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The Motley Fool inakhazikitsidwa mu 1993 ndi abale Tom ndi David Gardner, The Motley Fool yathandiza anthu miyandamiyanda kupeza ufulu wachuma kudzera pa webusayiti yathu, ma podikasiti, mabuku, makolamu anyuzi, mawayilesi ndi ntchito zotsogola zopezera ndalama.
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Masana abwino ndipo zikomo chifukwa cha thandizo lanu.Takulandilani kumsonkhano wa Tenaris SA wa Q3 2021.[Malangizo]
Ndikufuna tsopano kupereka msonkhanowu kwa wokamba nkhani lero, Giovanni Sardagna.chonde pitilizani.
Masheya 10 Timawakonda Kuposa Tenaris Pay kuti mumvetsere gulu lathu lowunikira lomwe lapambana mphotho lipereka upangiri wazinthu.Kupatula apo, kalata ya Motley Fool Stock Advisor yomwe akhala akuyendetsa kwazaka zopitilira khumi yachulukitsa msika katatu.*
Angovumbulutsa masheya khumi omwe akuganiza kuti ndi abwino kugula kwa osunga ndalama pakali pano… ndipo Tenaris si m'modzi mwa iwo!Ndiko kulondola - amaganiza kuti masheya 10 awa ndiwogula bwino.
Zikomo Gigi ndipo talandiridwa ku msonkhano wa Tenaris Q3 2021.Tisanayambe, ndikufuna ndikukumbutseni kuti tikukambirana zamtsogolo pakuyimba foni, ndipo zotsatira zenizeni zitha kusiyana ndi zomwe zanenedwa kapena zomwe zanenedwa pakuyimbaku.Kundijowina lero ndi Paolo Rocca, Wapampando wathu ndi CEO;Alicia Mondolo, CFO wathu;Guillermo Vogel, Wachiwiri kwa Wapampando ndi membala wa Bungwe la Atsogoleri;Herman Kura, Wachiwiri kwa Wapampando ndi Mamembala a Bungwe;Gabriel Podskubka, Purezidenti wa Eastern Hemisphere ntchito ndi Luca Zanotti, Purezidenti wa ntchito zathu za US.Ndisanamupatse Paolo mawu otsegulira, ndikufuna kuti ndifotokoze mwachidule zotsatira zathu za kotala.Kugulitsa kwathu kotala lachitatu kunali $ 1.8 biliyoni, kukwera kwa 73% pachaka ndi 15% motsatizana, makamaka chifukwa malonda apamwamba ku America ndi aakulu kuposa omwe ali ku Middle East chifukwa cha kuchepa kwa katundu ndi kutsika kwa malonda.Kuchepa kwa malonda kudatengera nyengo ku Europe.EBITDA yathu ya kotalayi idakwera motsatizana ndi 26% kufika $379 miliyoni, kuwonetsa mavoti apamwamba, mitengo yabwinoko komanso magwiridwe antchito amphamvu.
Malire athu a EBITDA adakwera kufika pa 20% chifukwa cha ma ASP apamwamba, pomwe kukwera kwamitengo kudayendetsedwa ndi kusintha kwa magwiridwe antchito komanso mtengo wokhazikika.Mtengo wogulitsa wapakati pamachubu athu udakwera ndi 10% pachaka ndi 6% kotala ndi kotala.Mu kotala, ndalama zoyendetsera ntchito zinali $ 53 miliyoni ndipo ndalama zazikulu zidali $74 miliyoni.Ndalama zathu zaulere zinali zoipa pang'ono.Ndalama zochokera kuzinthu zogwirira ntchito zidakwera ndi $ 276 miliyoni mgawoli, makamaka chifukwa cha kupitiliza kukula komanso kuchuluka kwa bizinesi ku US.Ndalama zathu zonse kumapeto kwa kotala zidatsika mpaka $830 miliyoni kuchoka pa $854 miliyoni mgawo lapitalo.A Board of Directors adavomereza kuti palipire ndalama zokwana $0.13 pagawo lililonse kapena $0.26 pa ADR pa Novembara 24.
Zikomo Giovanni mmawa wabwino nonse.M'miyezi ingapo yapitayi, tawona momwe misika yamagetsi ikuchulukirachulukira pomwe kufunikira kwapadziko lonse lapansi kukuchulukirachulukira pomwe chuma chatsika chifukwa cha mliri chaka chatha.Mitengo yamafuta yakwera pamwamba pa mliri usanachitike chifukwa zosungirako zili zocheperako ndipo mayiko a OPEC + ndi ogwira ntchito ku US a shale amasunga mwambo wopereka.Mitengo yamafuta achilengedwe, makamaka LNG pamsika wapamalopo, ikuchitapo kanthu chifukwa cha zovuta, ndikusiya malo ena osungira ku Europe opanda kanthu nyengo yozizira isanakwane.Izi ndi zomwe zimachitika makampani akamawunikidwa ngati msonkhano wa atsogoleri adziko lapansi umatsogolera kuganizira za momwe angalimbikitsire ndikufulumizitsa kusintha kwa kusintha kwa mphamvu.Ngakhale kuti chandamalecho ndi chomveka, mayendedwe ndi njira yoyendetsera sizidziwika, ndi zinyalala zambiri zosuntha mozungulira.Kusokonekera kwamagetsi uku, kuphatikizidwa ndi kusokonezeka kwa ma chain chain ndi zovuta zomwe zimachitika chifukwa cha mliriwu, zimapanga ziwopsezo komanso mwayi kwa Tenaris.Kumbali imodzi, takumana ndi kukwera mtengo kwazinthu zopangira, mphamvu ndi kayendetsedwe kazinthu, komanso zosokoneza zina pakukonzekera kupanga ndi mapulogalamu oboola makasitomala.Kumbali inayi, kufunikira kukukulirakulira pamene ntchito ikukula pothandizira mafuta ndi gasi.
Pansi pazimenezi, zotsatira zathu zikupitiriza kusonyeza kuwonjezereka kwamphamvu, pamene malonda akukwera kotala ndi kotala ndipo malire akuwonjezeka.Malire athu a EBITDA pakali pano ndi opitilira 20% chifukwa cha kuchuluka kwakukulu, mitengo yokwera komanso kuwongolera mtengo.M'tsogolomu, tikuyembekeza kuti izi zidzapitirira.Zogulitsa zathu ku North America mgawo lachitatu zidakweranso 28% motsatizana komanso kukwera 155% pachaka.Tikuyembekeza kukula kwamphamvu mu kotala yotsatira pamene tikukumana ndi kufunikira kwa makasitomala ndikuchepetsa kukwera kwamitengo yamsika.Monga tidanenera m'mayimbidwe am'mbuyomu, tikukulitsa zopanga ku US ndikutulutsa ntchito ya Rig Direct kuti tikwaniritse zomwe makasitomala athu akufuna.Mu Ogasiti, tinatsegulanso malo athu opangira mapaipi opanda msoko ku Ambridge, Pennsylvania.M’mwezi wa October, tinatsegulanso malo athu ochitira masewera olimbitsa thupi ku Baytown, Texas.Kupanga pamalo athu a Bay City kukukulirakulira.Tikupanga kukulitsa kumeneku pamsika wovuta wantchito momwe takhazikitsira kampani yathu - kuyambira Okutobala chaka chatha talemba ganyu antchito atsopano 1,000 ndipo tikuyembekeza kubweretsa anthu 1,000 pofika June 2022, anthu 1,600.US Steel ndi makampani ena angapo omwe akupikisana nawo amapaipi apaipi apereka kafukufuku woletsa kutaya paipi yamafuta kuchokera ku Mexico, Argentina ndi Russia, komanso kafukufuku wotsutsana ndi zothandizira ku Russia ndi South Korea.Dipatimenti ya Zamalonda ku US yavomereza pempho loti atsegule kafukufuku, ndipo bungwe la US International Trade Commission likuyenera kupereka chigamulo choyambirira cha zowonongeka pa November 19.
Tikukhulupirira kuti pempholi ndi lopanda umboni ndipo tidzakayikira kwambiri malingaliro aliwonse oti katundu wathu akutayidwa kapena kuvulaza kapena kuwopseza makampani am'deralo - pepani chifukwa chokhumudwitsa opanga malonda.Pazaka 15 zapitazi, Tenaris adayika ndalama zambiri kuposa kampani ina iliyonse pakugula ndikukulitsa kuti apange makina opangira OCTG ku United States.Ngakhale sitingathe kulosera zotsatira za kafukufukuyu, tili ndi chidaliro kuti titha kupitirizabe kutumikira makasitomala athu mosasamala kanthu za zotsatira zake.M'mawa uno tidalengeza kwa antchito athu aku Japan kuti ndizochisoni kuti ife ndi mnzathu JFE taganiza zothetsa mgwirizano wathu wopambana ndi NKKTubes ndikutseka chomera chathu chopanda chitoliro pofika Juni 2022. Izi zikutsatira chilengezo cham'mbuyomu cha JFE mu June 2020 kuti titseke Keihin. zitsulo mphero, kumene chomera chathu chili, amene amapereka zitsulo ndi ntchito zofunika [inaudible].NKKTubes yathandizira kwambiri ku Tenaris komanso JFE pazaka 20 zapitazi, koma kutsekedwa kwake kuli pafupi.Chomerachi chikatsekedwa, tidzakhala tikupanga zinthu zambiri za aloyi za chromium zomwe NKKTubes imapereka kwa makasitomala padziko lonse lapansi pamakampani athu.JFE itithandiza pakusinthaku ndi mzimu wachitsanzo wa mgwirizano womwe umakhala wofanana ndi mabizinesi ogwirizana.Ogwira ntchito athu ku Japan anasonyeza kupirira kwakukulu pamene tinalengeza m'mawa uno ndipo tidzawathandiza m'miyezi ikubwerayi.
Mu Okutobala, tinakulitsa ubale wathu wanthawi yayitali ndi Sandvik kuti tipereke CRA kapena mapaipi achitsulo chosapanga dzimbiri kwa zaka zina zisanu.Apa tikuphatikiza ukadaulo wa zinthu za Sandvik ndi ukatswiri wathu wolumikizirana kwambiri komanso ukadaulo wa Dopeless kuti muphatikize mapaipi apamwambawa mu [proposal process] yathu.Ichi ndi gawo la msika lomwe likukula.Ku Qatar, tidalandira kontrakiti ya $330 miliyoni yopereka mapaipi owotcherera komanso opanda msoko operekera gasi pansi pa mgwirizano wa LNG.Kutumiza kumayenera kuyamba mu theka lachiwiri la 2020. Izi zikukwaniritsa mgwirizano wathu womwe ulipo wopereka mapaipi a OCTG m'derali.Izi zimawonjezera bukhu lathu la oda ku Middle East, zomwe zotsatira zake zidzawoneka muzotsatira zathu kuyambira gawo lachiwiri la 2022. Ku Argentina, tagwirizana ndi YPF kuti tiwonjezere mgwirizano wathu wa nthawi yaitali kuti tilimbikitse zida zathu za 5 zina. zaka zautumiki wachindunji kuchokera pa 22 Epulo.Tikupitiriza kupititsa patsogolo ndondomeko zathu zochepetsera mphamvu ya carbon pa ntchito zathu.Tikumalizitsa ndalama zokulitsa kukula kwa mphero zathu zapakati pa Dalmina kuti ziphatikizepo mapaipi ofikira mainchesi 18, zomwe zimabweretsa kupulumutsa mphamvu ndi mpweya wamagetsi okulirapo.Tikuyang'ananso mwachangu kuyika ndalama kapena kupeza mphamvu zongowonjezera pamitengo yathu yambiri padziko lonse lapansi, kuphatikiza Italy, Argentina, Romania ndi US.Panthawi imodzimodziyo, tikukulitsa malonda a matanki osungiramo haidrojeni kuti aziwonjezera mafuta ku Ulaya ndi California, ndipo tapambana mgwirizano ndi Air Products kuti tipange payipi yoperekera haidrojeni ku Saudi Arabia.M'malo ovuta komanso osinthika mwachangu, Tenaris amakwaniritsa udindo wake powongolera momwe amagwirira ntchito pazachuma komanso kukhala ndi mwayi wothandizira makasitomala padziko lonse lapansi.
[Malangizo a Opaleshoni] Funso lathu loyamba likuchokera kwa Ian McPherson wa Piper Sandler.Mzere wanu tsopano ukugwira ntchito.
Moni.Zikomo.Paolo, ndikuganiza inu - tidakambirana kotala yapitayi kuti mutha kuyembekezera kukula kwachuma kwa manambala awiri mgawo lachitatu ndi lachinayi.Munathyola gawo lachitatu ndi 15%.Kodi - mwabweretsa ndalama zilizonse?Kapena mukuyembekezerabe kukula kwa ndalama zamagulu awiri mgawo lachinayi?
Tithokoze Jan. Ndikuganiza kuti tiwonjezerenso ndalama zathu munjira iyi, muunyamata.Ndikutanthauza, msika ukukula m'madera osiyanasiyana, makamaka ku North America.Choncho timaganiza kuti tikhoza kuchita.Ndipo ndikuganiza kuti izi zitha kupitilira gawo lotsatira.
ZABWINO Ndiye, izi zili ngati ASP ikukula 6% kapena 7% mgawo lachitatu, ndipo zina zonse zidzakhala chifukwa cha kuchuluka?Zotsatira zake, kukula kwa voliyumu ndi mitengo kunali kofanana.
Kwenikweni, zikhala - mwina kusiyana kochulukirapo.Koma monga mukuwonera, kukula kwa Pipe Logix mwezi uno kwakhala kofunikira.Monga mudanenera, izi zithandiziranso pang'onopang'ono kukula kwa ndalama mu gawo lachinayi komanso kotala loyamba la chaka chamawa.
ZABWINO Izi ndizothandiza kwambiri.Ndiye ndikufunanso kufunsa za kutha kwa NCC.Kodi mungalankhulepo pang'ono za kufunikira kwa mgwirizano waku Japan poyerekeza ndi manambala a 2021 ndi zomwe tiyenera kuganiza zakusintha pakadutsa chaka chamawa?
Chabwino, mgwirizanowu unathandizira kwambiri pakupanga kwake mu 2000. Panthawiyo, zinatithandiza kwambiri kuti timalize mndandanda wathu ndikulowa msika wa Japan.Koma m'chaka chathachi, kupanga kwathunthu kwatsika kwambiri.Chiwerengero chonse chopanga chaka chatha chinali pafupifupi matani 50,000 pachaka.Mwanjira ina, yankho lapano ndilochepa, monga mu 2020 JFE idaganiza zotseka malo omwe malo athu ali, ndipo sizidzawononga nthawi yomweyo, koma mu 2023, kupezeka kwa malo otsekerako, tikukumana ndi zosapeŵeka - Timakakamizika kupanga chisankho ichi.Sindinganene kuti zimakhudza kwambiri tsamba lathu la ndalama chifukwa tilinso ndi zinthu zomwe gawo lalikulu la mtengo lingakhale lokhudzana ndi kutsekedwa uku.Vuto lidzakhala loti takonzeka kukonzanso zopanga, makamaka zopangira zapamwamba, pazantchito zathu zonse.
Inde.Zikomo kwambiri.Chosangalatsa ndichakuti, sindikutsimikiza zomwe munganene pakadali pano kupatula kungopereka ndemanga pazamalonda omwe angachitike.Mwachiwonekere mwatsindika zomwe mukuganiza kuti ndizoyenera.Kodi pali zambiri zomwe mungaloze, kapena zina zamakampani zomwe zikuwonetsa kapena kuthandizira udindo wanu?
Inde.Kwenikweni, pali deta iliyonse muzochita zanu kapena pamsika yomwe imathandizira malingaliro anu kuti zomwe akunenazo ndizopanda maziko.Kwenikweni ndikungodabwa ngati mutha kukulitsa momwe mungathandizire malo anu.
Inde.Tithokoze Connor Chabwino, zambiri, pazaka 15 zapitazi takhala tikugulitsa ndalama zambiri ku US pogula komanso kukula kosagwiritsa ntchito organic.Kuphatikiza pa kugula, takhazikitsa malo atsopano aukadaulo ku Texas.Ndalama zathu zimaposa $ 1.8 biliyoni.Tinalowererapo kuti tiwonjezere mphamvu za zomera zakale za Maverick ndi Hydril, komanso zomwe zinapezedwa ndi IPSCO.Chifukwa chake tili ndi mphamvu zopanga zolimba kwambiri ku US ndipo timawonjezera zopanga zathu zam'deralo ndi zogulitsa kunja kapena zinthu zomwe nthawi zina zimapanganso zoperewera kapena zoperekera magawo amsika athu komwe kulibe kupanga kwanuko, kulibe kupanga kwanuko, kupanga zapakhomo ndi akadali osakwanira, kupanga zapakhomo sikokwanira.Ndiwo udindo wathu muzochitika izi, zimapweteka, sitinapweteke zamkati [INAUDIBLE] pansi pa mgwirizano.Ndife gawo lofunikira lamkati [osamveka].
Ndife makamaka malingaliro athu ndi chifuniro chathu - mikangano yomwe tidzapanga poteteza zomwe tikufuna ndi DOC kumbali imodzi ndi kuvulaza kwa ITC kumbali inayo.Tili ndi mlandu wamphamvu kwambiri.Panthawi imodzimodziyo, ndife okonzeka kuonjezera zokolola zam'deralo monga momwe zikufunikira - pamene msika ukukula ukupitirizabe kufunikira - pakuwonjezeka kwa msika.Monga ndidanenera m'mawu anga otsegulira, takhala tikuphatikiza kuyambira Okutobala chaka chatha - tiphatikiza antchito opitilira 1,600 kuti athandizire kukulitsa ntchito yathu.Yankho ili siliyima pa nkhani iliyonse kapena nkhani zamalonda ndipo lisinthidwa kuti lipatse makasitomala athu chitetezo chambiri kumbali yathu pamakontrakitala onse omwe tili nawo.Masamba asanu ndi atatu omwe tikugwiritsa ntchito pano ndi, malo asanu ndi atatu ku United States.Awa ndi Bay City steelworks, Hickman ndi McCarthy, Baytown, Conroe, Koppel, ndipo mwina mapaipi amafuta a Blytheville.Ndikutanthauza, ndi njira yodalirika yopangira zinthu zopanda msoko komanso zowotcherera ku United States.Chifukwa chake ngati tikuganiza kuti mlandu wamalonda ndi wopanda maziko, tidzauteteza mwamphamvu.Komanso pamitengo, mudawona kuti Pipe Logix yakwera 98% poyerekeza ndi chaka chatha.Kotero pamenepa, kuwonjezeka kwa mtengo wa 100 peresenti kumakhala kovuta kuti awononge zowonongeka.Kuphatikiza apo, monga mukudziwa, makampani azitsulo aku America tsopano akuwonetsa manambala ojambulira.Chifukwa chake tidzitchinjiriza ndi Dipatimenti Yachilungamo pamlandu wovulala.
Izi zikomo kwambiri amayamikira mtundu kumeneko.Chifukwa chake, kumamatira kumsika waku US, limodzi mwamafunso omwe timapeza nthawi zambiri ndi momwe HRC, mitengo yotsika kapena mitengo yowotcherera ingakhalire chilimbikitso choyambitsanso mafakitale kumeneko.Kungopatsidwa luso lanu lakuwotcherera, kodi muyenera kuwona chiyani pamsika kuti mutsimikizire kuyambiranso luso lililonse?
Chabwino, mwawona kukwera kwamtengo kwamphamvu komwe kungalimbikitse kukhazikitsidwa kwa zomangira zowotcherera, palibe kukayika za izo.Tichita…tichita ku Hickman.HRC yafika pamtunda, mwinamwake malire, ndipo tikhoza kuganiza kuti ngati muyang'ana m'tsogolomu, mtengo wa HRC ukhoza kuchepa pang'onopang'ono pakapita nthawi mu 2022. kukhazikitsidwa kwa luso.Komabe, ngati tikuganiza kuti kufunikira kumawonjezeka - monga momwe tikuyembekezera kuti chiwerengero cha zigawenga chipitirize kukula m'gawo lotsatira, tikuyembekeza kuti chiwerengero cha zigawenga, ndipo tikuyembekeza kuti chiwerengero cha zigawenga, ndipo makasitomala athu amatsimikizira mfundoyi ya ena. openda.kuyambira tsopano, onjezani 100 rigs mu theka lachiwiri la 2022. Choncho, ndi msika womwe ukukula wa OCTG, mtengo wa koyilo yotentha yotentha idzachepa pang'onopang'ono m'tsogolomu, ndipo tikuwona kuti mitundu yowotchedwa idzalowa pamsika.Komabe, kufunikira kupitilirabe kufinya kupezeka.Malingaliro anga, mtengowo udzapitirizabe mphamvu zake zabwino.
M'mawa wabwino.Chifukwa chake kwa nthawi yoyamba pakapita nthawi yayitali, ndikukumbukira kutulutsa kwanu kwa atolankhani pakusintha kwakutali m'magawo ambiri.Ngati ndikukumbukira bwino, bizinesi yolimba ya m'mphepete mwa nyanja inali chinthu chofunika kwambiri pakukankhira malire a EBITDA pamwamba pa 25% m'nyengo yotsiriza ndipo sitinawonepo kuyambira 2014. Kotero, kodi inu anyamata mukuyembekezera kuchira kwa 2022 bwanji?Mukadakhala kuti mungoganiza, posakhalitsa tidzawona malire pamwamba pa 25%?
Chabwino, tikuvomereza kuti tikuwona bizinesi yakunyanja ikuyamba kuchira.Kuyambira kotala loyamba la chaka chamawa, titha kuwona zambiri zakuchira uku zikuyamba.Uku kudzakhala kuphulika koyamba, koma ndondomekoyi idzapitirira.Tikuyembekeza kuti mapulojekiti ena akuluakulu apanga zisankho zomaliza za ndalama mu 2022 ndipo pang'onopang'ono zimakhudza malo athu ndi malonda kapena zofuna zathu mu theka lachiwiri la 2022 ndi 2023. Zimatenga nthawi.Lero tikuwona chidwi chochulukirapo.Bizinesi yakunyanja ikubwera, makamaka ku Latin America, Mexico, Brazil ndi Guyana.M’madera amenewa, mwachitsanzo, zizindikiro za kuchira zikuyamba kuonekera.Koma ndikuganiza kuti mu 2023 zigawo zina zidzalowanso - padzakhala mapulojekiti atsopano ku Eastern Hemisphere, Africa, omwe adzabwera kudzasankha ndalama ndi kuphedwa.Ndiko kulondola, akukhala bwino…
chachikulu.Monga cholembera cham'mbali ku funso la Connor lokhudza bizinesi yamalonda, kodi mungafotokoze pang'ono kuchuluka kwa malonda anu aku US omwe akugulitsidwa pano ku US?Pongoganiza kuti mafakitale anu aku US ayamba kugwira ntchito mokwanira, padzakhala kufunikira kotani ku US - kufunikira kwa US pazomwe mumagulitsa, zomwe mungapange kwanuko?Kodi pali mapaipi amtundu uliwonse omwe sangapangidwe pano ndipo ayenera kutumizidwa kunja?
Hello Igor.Mwina mzere ku Buenos Aires sukugwira ntchito, sindikudziwa, mwina Luca kapena Herman ayankha funsoli.
Tonse tili mu izi.Chabwino, zikomo, Igor, ndipo tili mu Chijeremani.Tikatsegulanso mzere wochokera ku Buenos Aires, ndinganene, choyamba, kuti tikukonzekera kuti tithe kuthandiza makasitomala athu omwe alipo komanso omwe akukula.Monga talengeza m'masabata angapo apitawa, pakadali pano tili ndi malo aku US komwe tikukonzekera kulemba anthu 1,000.Tili ndi ndalama zofanana kuti tiwonjezere mphamvu zathu zamkati.Igor, nthawi zambiri sitimawulula zoyambira ndi zina, koma muyenera kuganiza za Tenaris ngati njira yamakampani padziko lonse lapansi yomwe mwachilengedwe idapanga zida zopangira zapakhomo monga talengeza kudzera mu ndalama zopitilira $ 10 biliyoni.Zimakwaniritsanso kupanga kuchokera kumadera ena a mafakitale apadziko lonse lapansi, ndipo tikufuna kutero motere.Tikukhulupirira kuti izi zathetsa vuto lanu.
Zikomo.Funso lathu lotsatira likuchokera kwa Alessandro Pozzi waku Mediobanca.Mzere wanu tsopano ukugwira ntchito.
Moni, zikomo povomera funso langa.Mudanena kuti mu gawo lachinayi mutha kuwona - kukula mozungulira unyamata.Ndikudabwa kuti mwina panthawiyi mumamvetsetsanso bwino za kukula kwa gawo loyamba, ndipo ndikudabwa ngati n'zotheka kuwonjezera chiwerengero cha kukula m'gawo loyamba.Mwinamwake monga kutsatiridwa, ndikukhulupirira kuti munatchula kuti kuyambira m'gawo lachiwiri la chaka chamawa, mudzatha kuona zotsatira zabwino za kuwonjezeka kwa malonda ku Middle East.Ndikudabwa ngati mungatiuze zambiri za kuchira komwe mukuwona ku Middle East ndi chaka chamawa.
ndithu.ndithu.Pamene tikudikirira Paolo, ndiyankha funso lachiwiri lokhudza Middle East, komwe tikuwona kuponderezedwa kosalekeza.Mpaka pano, tawona kuchira pang'ono.Poyerekeza ndi koyambirira kwa chaka, kuchuluka kwa zida zoboola ku Middle East zidakwera ndi 5% yokha.Tidakali pafupifupi 35% pansi pa mliri usanachitike, koma tikuwona izi zikusintha.Tikuwona kuchepa kwa kuchuluka kwa zida zogwirira ntchito ndipo tikuyembekeza kuti kubowola kudzakwera kwambiri kumapeto kwa chaka chino mpaka 2022 mogwirizana ndi mapulani ogwiritsira ntchito ndalama kuti achuluke ndikuwonjezera kupanga.Gawo lina lofunikira lomwe limachepetsa ndalama zomwe timapeza ku Middle East ndikusintha kagayidwe kazinthu ku UAE.Mukudziwa kuti tikusamukira ku Rig Direct, ndiye kuti zinthu zachepa.Kuphatikiza apo, pali kusiyana pakati pa mapangano akale ndi atsopano a Kuwait.Chifukwa chake izi zidakhudzanso kufunikira kowonekera m'magawo angapo apitawa ndi magawo awiri otsatirawa.M'nkhaniyi, monga momwe mudanenera, tikuyembekeza kuti malonda athu ku Middle East adzakhalabe chimodzimodzi pazaka ziwiri zotsatira poyerekeza ndi magawo apitawo.
Koma, monga tanenera pa kuyimba komaliza, tikuyembekeza kuti kulumpha kofananirako kuyambike mu Q2 22 ndi kupitilira apo popeza tili ndi ma contract ambiri omwe akuyembekezera mderali.Kuti tiwonjezere mtundu kwa inu, ku Saudi Arabia, tinapereka chitukuko chosavomerezeka cha deposit ya Jafura.Tawona momwe Saudi Aramco yayambitsiranso ma projekiti angapo akuluakulu akunyanja.Ku Kuwait, tidalandira lamulo lathu loyamba loletsa, zomwe zimatisiya tili ndi chikayikiro chokhudza kutumiza katundu mgawo lachiwiri la chaka chamawa chifukwa cha chilimbikitso chazaka zambiri chomwe tidapereka ndemanga kotala zingapo zapitazo.Kuonjezera apo, ntchito ku UAE yakhala ikulonjeza, ndi zoperekera za Rig Direct ku ADNOC zikukonzekera kuwonjezeka mu 2022. Tawonanso kufufuza kosangalatsa kwa gasi ku UAE, osati ku Abu Dhabi kokha komanso ku Ras Al Khaimah ndi Sharjah, zovuta kwambiri. zitsime zomwe zimafuna zosakaniza zambiri.Pomaliza, m'mawu ake otsegulira, Paolo adatchula Qatar, yomwe posachedwapa idapambana mgwirizano waukulu wapaipi ya Qatari ndikuwonjezera OCTG pazachuma chathu.Tidakali pano ndipo msika uwu udzakhalanso wamphamvu kwa ife mtsogolomu.Chifukwa chake, ndikukhulupirira kuti kuyambira gawo lachiwiri la 2022 padzakhala kulumpha kofananira ndi chizindikiro chatsopano ku Middle East.
Kodi tikuyembekezera liti kuti Middle East ibwereranso ku pre-COVID-19 milingo?Ndi 2022 kapena chaka chamawa?
Inde.Pofika chaka cha 2022, kulumpha kumeneku kuyenera kutibweretsanso ku mzere wandalama wa 2020 ndipo mwachiyembekezo ngakhale 2019, koma kumagulu awa.
ZABWINO Kubwerera ku funso loyamba lokhudza kukula kwachuma komwe kungachitike mu kotala yoyamba, kodi tiyembekezere kukula kwa ndalama zochulukirapo koyambirira kwa 2022?
ZABWINO Ayi, ndi ndemanga yomweyi ndidatchulapo kale, tikuyerekeza kuti kukwera kwathu kwachuma mchaka choyamba cha 2022 kudzakhala pakati pa achinyamata.
Zikomo.Funso lathu lotsatira likuchokera kwa a Frank McGann ku Bank of America.Mzere wanu tsopano ukugwira ntchito.
Chabwino, zikomo kwambiri.Mafunso awiri okha, ngati ndingathe.Choyamba, malinga ndi zomwe mwawona.Monga mudanenera m'mbuyomu, mudanena m'mawu anu atolankhani kuti opanga payekha ndiye omwe amayendetsa kukula.Ndikudabwa momwe zikuyendera - mukuwona bwanji zikupita patsogolo?Kodi izi zikuyamba kusintha?Kodi mukuwona makampani akuchulukirachulukira akuyamba kutsegulira ndalama zawo pang'ono?Ndiyeno, ponena za kupanikizika kwamitengo komwe mukuwona, mitengo mwachiwonekere inakwera mofulumira kwambiri kotero kuti ikuwoneka ngati iyo kuposa momwe imapangidwira, zomwe zinapangitsa kuwonjezeka kwakukulu kwa voliyumu.Koma - kodi mukuwona kusiyana kwa mtengo komwe kumayamba kukhala vuto pakatha magawo awiri kapena atatu?
Zikomo Frank.Chabwino, choyamba, ndikufuna ndikufunseni Luca Zanotti kuti afotokoze momwe makampani achinsinsi komanso aboma akupangira ndalama mosiyana masiku ano.
Inde.Zikomo Paulo ndikutanthauza, yang'anani, maulosi omwe makasitomala athu akupanga akadali ozikidwa pamitengo yamtengo wapatali, yomwe tsopano ikukhudzidwa kwambiri ndi chilengedwe chokhazikika chomwe tikuwona pakali pano.Kotero izi zikhoza kusintha.M'mikhalidwe yamakono, tikuwona kuti mabungwe apadera akupitirizabe kugwira ntchito yaikulu pakukula uku kwa mphamvu.Koma kachiwiri, ngati muwerenga akuluakulu odziimira okha, akuluakulu odziimira pawokha, mudzapeza kuti akutanthauza kuti tsogolo likhoza kusintha malinga ndi chilengedwe.Monga ndanenera, chilengedwe chikuwoneka cholimbikitsa kwambiri kuposa kale.Kuphatikiza apo, pali chinthu china choyenera kuganizira, chomwe ndi chakuti M&A ikupitilirabe, zomwe zingasinthenso pang'ono malingaliro amtsogolo.Ndikukhulupirira kuti izi zikugwira ntchito kwa inu.Inde.Zikomo Luka.Pankhani ya ndalama, mumadziwa bwino kuti tikudutsa nthawi yovuta kwambiri chifukwa cha kusintha kwakukulu pamtengo wazitsulo ndi mphamvu, komanso zomwe zikuchitika ku Ulaya lero.Koma, mwachitsanzo, ponena za zitsulo, mtengo wachitsulo unakwera mofulumira kwambiri, ndipo China inaganiza zodula kupanga zitsulo mwadzidzidzi komanso mochuluka kwambiri kotero kuti anadula mtengo wachitsulo kwambiri.Tsopano malasha akukwera mtengo, akukwera mtengo chifukwa cha zoletsa komanso zolepheretsa gawo lamagetsi.Ukwati wakula, koma posachedwapa ukonde watsika.Chifukwa chake pali kusagwirizana pakati pa zosintha zomwe tidagwiritsa ntchito limodzi m'mbuyomu, chifukwa chake sikophweka kulosera.Koma pakadali pano, mtengo - kulungamitsa mtengo wazinthu zopangira, mphamvu, ndi mayendedwe - zili pamndandanda wathu.Pofika kotala lachinayi, ndikuganiza kuti zotsatira zake zonse zidzawonetsedwa pamtengo wathu wogulitsa.Imalipiridwa, monga mudanenera, ndi kupanga kochepa komanso kufananizidwa bwino.Ngati ndiyang'ana m'tsogolomu, ndikuganiza kuti zina mwazosinthazi zidzakhala zachilendo, mwachitsanzo, tikuyembekeza kuchepa kwapang'onopang'ono kwa mtengo wa mphamvu, mwinamwake pambuyo pa kasupe - kasupe wa ku Ulaya, pambuyo pa nyengo yozizira.Chifukwa chake ngakhale mtengo udzakhala - njira zogulitsira zidzayankha ndipo titha kukhala ndi zosokoneza komanso kusakhazikika komwe tawona mwezi wathawu.M'malipoti athu, ndikuganiza kuti izi ziwoneka bwino mu gawo lachinayi komanso kotala yoyamba ya 2022.
Zikomo.Funso lathu lotsatira likuchokera kwa Stephen Gengaro wa ku Stifel.Mzere wanu tsopano ukugwira ntchito.
Zikomo ku.masana abwino.Good morning njonda.Mwayankha zambiri.Ndikungofuna kudziwa kuti izi zikugwirizana bwanji ndi nkhani yamalonda mukaganizira zakupanga kwanu kapena ku US motsutsana ndi malonda ochokera kumisika ina.Ndikudziwa kuti simukufuna kuwulula tsatanetsatane wa mabukuwa.Koma mukaganizira za phindu lamtengo wapatali, ndikudziwa kuti m'zaka zingapo zapitazi, ngati milanduyi ikuchitika, mitengo pamsika wa US imakonda kukwera.Kodi phindu lanu ndi chiyani pa phindu lanu.Kodi pali njira yofotokozera kugwirizana kulikonse pakati pa phindu la kupanga kwa US ndi mitengo yotsika mtengo yomwe imalowa m'dzikoli?
Chabwino, mukulondola, monga m'mbuyomu, izi zitha kukhudza mtengo.Koma, monga mukudziwa, mitengo yaku US yakhala ikukwera kwa miyezi 13 yapitayi.Miyezi ndi miyezi, mitengo ikukwera komanso yamphamvu pomwe mitengo ya Pipe Logix idakwera 12% mwezi watha.Chifukwa chake pali kukwera kwamitengo.Tsopano - ndi chikhalidwe ichi, zoletsa zilizonse zogulitsira kapena kuchepetsa katundu, makamaka pazinthu za niche, zitha kuyambitsa kukwera.Izi zikhoza kuchitikanso.Koma zikuwoneka kwa ine kuti zoperekera ndizovuta.Pankhani ya kukhudzidwa kwa zosungirako, zosungiramo zidali pamlingo wapamwamba kwambiri koyambirira kwa chaka chino, zomwe zidachepetsa kuwonjezereka kwamitengo pomwe zosungira zidasintha kuchoka pakufunidwa kupita kukugwiritsa ntchito.Tsopano zosungirako zachepetsedwa kukhala miyezi inayi, miyezi 4.5.Choncho, mlingo wa masheya ndi wabwinobwino kapena wochepa pamlingo woyembekezeredwa wogwiritsidwa ntchito.Kotero ichinso ndi chinthu chomwe chimakhudza mtengo.Kotero zikuwoneka kwa ine kuti ngakhale mosasamala kanthu za malonda, tidzawona kukakamizidwa kwa mtengo.Ndipo, mwina, mlandu wamalonda ukhoza kulungamitsa kuwonjezereka kwina m'malo ena omwe amamwa.
Zikomo.Funso lathu lotsatira likuchokera ku mzere wa Vaibhava Vaishnava kuchokera ku Cocker Palmer.Mzere wanu tsopano ukugwira ntchito.
Mmawa wabwino nonse ndipo zikomo poyankha funso langa.Choyamba, ndi nkhani yongofotokozera.Ndikuganiza kuti anyamata mukuyang'ana kukula kwa ndalama za Q4, koma mumalankhulanso za kukula kwa ndalama za Q1 22?
Ngakhale Middle East ndi yathyathyathya.Kodi chimawatsogolera ndi chiyani?Kodi pali ambiri aiwo ku North America?Kapena nchiyani chimawatsogolera?
Chabwino, North America imachita nawo gawo.Ndipo ndikutanthauza ku Latin America ntchito yobowola ikukwera.Mitengo yamafuta pafupifupi $80 ndi yofunika poyerekeza ndi komwe tinali chaka chatha.Mitengo ya gasi ku US ili pafupi $ 5 ndipo LNG ikuthandiziranso ntchito yapamwamba.Chifukwa chake ikuyendetsa - Canada ndiye chinthu.Ndikatchula ndalama, ndimaphatikizapo mtengo.Choncho ngati pali kuchuluka, pali mtengo.Kuphatikiza kwa voliyumu ndi mtengo, kufunikira ndi kachulukidwe, kumayendetsa kukula kwa ndalama.
Nthawi yotumiza: Jan-23-2023