EX-7.1 2 dex71.htm STATEMENT EXPLAINING CALCULATION OF RATIOS Statement Explaining Calculation of Ratios

Exhibit 7.1

Tenaris – Total liabilities to Total assets ratio

 

Thousands of U.S. Dollars

    31-Dec-08    31-Dec-07    31-Dec-06

Total liabilities

    6,398,825    7,714,737    6,893,612

Total assets

    15,100,712    15,244,587    12,595,242
              

Ratio

    0.42    0.51    0.55
              

Tenaris – Current debt to Total debt ratio

 

Thousands of U.S. Dollars

    31-Dec-08    31-Dec-07

Current debt

    1,735,967    1,150,779

Total debt

    2,977,015    4,020,245
         

Ratio

    0.58    0.29