Watani Steel loses SAR 1.7 million during Q2, 2025

Watani Iron and Steel Company recorded a net loss of SAR 1.7 million during the second quarter of 2025, compared to a loss of SAR 1.5 million in the same quarter of last year, a 16.8% increase. This came after today’s announcement of the financial results for the period ending June 30, 2025.

The operating loss amounted to SAR 1.1 million in the second quarter of 2025, compared to a loss of SAR 318,000 in the same quarter of the previous year, an increase of 256.9%.

Earnings per share amounted to SAR 0.01 in the second quarter, compared to SAR 0.02 in the same quarter of the previous year. According to the company, the reason for the decrease in net profit during the current quarter compared to the same quarter of the previous year is due to a 23% decrease in sales volume and quantities due to a decrease in demand rates during that period, with a stable rate of change in the average cost per ton sold and a decrease in the average selling price by 1.5%.