Tenaris Once Again Included in Forbes’ List Of World’s Most Innovative Companies
“(The ranking) indicates a recognition of Tenaris’s potential for innovation not only in terms of products and services but also in terms of the company’s business model, its organization and its structure to serve customers in an effective and efficient way,” said Marcelo Ramos, technology director.
Companies are ranked according to what Forbes calls the “Innovation Premium,” a formula that, the authors say, uses “the wisdom of the crowd” and relies on “investors’ ability to identify firms they expect to be innovative now and in the future.”
“The Innovation Premium is a measure of how much investors have bid up the stock price of a company above the value of its existing business based on expectations of future innovative results (new products, services and markets),” reads the Forbes explanation of the ranking. To be included, firms must have seven years of public financial data and a minimum US$10 billion in market capitalization.
The future-oriented core of the index indicates that the market sees Tenaris as a company ready to continue to innovate and add more value to its customers, explained Ramos. “The concept of ‘Innovation Premium’ gives a vision of the future innovation potential and capacity,” he said. “This year has been particularly fruitful in terms of new products, especially in the premium connection segment.”
Coming from a century-plus-old industry like steel pipe making, Tenaris should feel an extra pride for being on the list, said Ramos. “The index’s focus on profitability in the long term is key to be included on the list,” adds Ramos. “It is important for us to reinforce the market’s perception that Tenaris is truly a provider of solutions for an increasingly complex oil and gas industry.”