Financial Results : Al Yamamah Steel profit dips 56% to SAR 26.5M in H1 2024/25; Q2 at SAR 21.9M

Al Yamamah Steel profit dips 56% to SAR 26.5M in H1 2024/25; Q2 at SAR 21.9M

14/05/2025 Argaam Exclusive

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Al Yamamah Steel Industries Co. reported net earnings of SAR 26.5 million for the first half ended March 31, 2025, down 56% from SAR 60.1 million a year earlier.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Revenues 1,127.66 997.17 (11.6 %)
Gross Income 141.32 91.73 (35.1 %)
Operating Income 96.89 48.81 (49.6 %)
Net Income 60.09 26.54 (55.8 %)
Average Shares 50.80 50.80 -
Earnings Per Share before unusual items (Riyals) 1.18 0.38 (67.9 %)
EPS (Riyal) 1.18 0.52 (55.8 %)


Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Revenues 496.94 512.72 3.2 %
Gross Income 68.38 52.58 (23.1 %)
Operating Income 47.77 30.12 (37.0 %)
Net Income 30.54 21.95 (28.1 %)
Average Shares 50.80 50.80 -
Earnings Per Share before unusual items (Riyal) 0.60 0.29 (51.9 %)
EPS (Riyal) 0.60 0.43 (28.1 %)

Sales decreased by 11.57% year-on-year (YoY) on lower sales volume and value in the renewable energy segment.

 

Product selling prices in the construction segment also declined 8.71% YoY in the first half.

 

In Q2 2024/25, net earnings dropped 28% to SAR 21.9 million, from SAR 30.5 million in the year-earlier period.

 

On a sequential basis, the steel producer’s net earnings skyrocketed from SAR 4.5 million in Q1 2024/25.

 

Shareholders’ equity, excluding minority interest, amounted to SAR 590.22 million by the end of the six-month period ended March 31, 2025, up from SAR 578.23 million last year.

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