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Watani Iron Steel Co. announces its Annual Financial results for the period ending on 31/12/2024
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WATANI STEEL
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1446/08/26 25/02/2025 16:19:45
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Sales/Revenue | 553,305,344 | 370,108,596 | 49.5 | ||
| Gross Profit (Loss) | 33,679,096 | 24,433,119 | 37.84 | ||
| Operational Profit (Loss) | 15,761,678 | 10,631,005 | 48.26 | ||
| Net profit (Loss) | 9,867,905 | 4,244,845 | 132.47 | ||
| Total Comprehensive Income | 8,916,383 | 4,857,241 | 83.57 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 251,355,773 | 242,439,390 | 3.68 | ||
| Profit (Loss) per Share | 0.05 | 0.02 | |||
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Actual) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the sales/ revenues during the current year compared to the last year | The reason for the increase in sales in 2024 is due to an increase in the volume of demand for iron sales. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The reason for the increase in sales in 2024 is due to an increase in demand for iron sales, a noticeable improvement in the movement of the construction sector, and an expansion in the customer base in the market compared to the previous year 2023, despite the increase in operating costs (production inputs) for the year 2024 compared to the year 2023. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | N/A |
| Reclassification of Comparison Items | Certain comparative figures for the same period of the previous year have been reclassified to conform to the current period presentation. |
| Additional Information | - |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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