Financial Results : Watani Steel loses SAR 3.5M in 9M 2025, SAR 4.7M in Q3

Watani Steel loses SAR 3.5M in 9M 2025, SAR 4.7M in Q3

05/11/2025 Argaam Exclusive

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Watani Iron Steel Co. (Watani Steel) reported a net loss of SAR 3.5 million in the first nine months of 2025, against net earnings of SAR 2.2 million a year earlier.



Financials (M)

Item 9m 2024 9m 2025 Change‬
Revenues 389.65 300.03 (23.0 %)
Gross Income 19.34 11.89 (38.5 %)
Operating Income 6.41 (0.34) (105.4 %)
Net Income 2.25 (3.55) (257.9 %)
Average Shares 181.65 181.65 -
Earnings Per Share before unusual items (Riyals) 0.01 (0.02) (257.9 %)
EPS (Riyal) 0.01 (0.02) (257.9 %)

This was due to lower sales on a fall in sales volume — attributed to a drop in production as the company’s plant was exposed to a partial fire incident in the fuel tanks, which led to a partial disruption in the production during the current period compared to the same period of the previous year. This was offset by elevated demand during 9M 2025.

 

In Q3 2025, the Saudi-listed steel maker widened its loss to SAR 4.7 million, from SAR 1.2 million a year earlier.

 

On a quarterly basis, however, it turned to a loss from earnings of SAR 1.8 million in Q2 2025.

 

Total shareholders’ equity, no minority interest, advanced to SAR 247.80 million as of Sept. 30, 2025, from SAR 244.68 million a year earlier.

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