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Watani Iron Steel Co. announces its Interim Financial results for the Period Ending on 2025-03-31 ( Three Months )
9513
WATANI STEEL
-2.35
%
1446/11/16 14/05/2025 15:31:09
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Sales/Revenue | 119,470,437 | 145,344,074 | -17.801 | 163,654,437 | -26.998 |
| Gross Profit (Loss) | 9,936,123 | 10,997,921 | -9.654 | 14,342,999 | -30.724 |
| Operational Profit (Loss) | 4,149,378 | 6,568,120 | -36.825 | 9,329,305 | -55.523 |
| Net profit (Loss) | 2,873,025 | 4,913,776 | -41.531 | 7,600,396 | -62.199 |
| Total Comprehensive Income | 2,873,025 | 4,913,776 | -41.531 | 6,648,874 | -56.789 |
| All figures are in (Actual) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 254,228,798 | 247,353,166 | 2.779 |
| Profit (Loss) per Share | 0.02 | 0.03 | |
| 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 quarter compared to the same quarter of the last year is | The previous reason for the decline in first quarter sales compared to the first quarter of 2024 is due to the lack of a shortage and a decline in the domestic product for the first quarter of 2025 |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The reason for the decrease in net profit during the current quarter compared to the same quarter of the previous year is due to the decrease in sales volume for the first quarter of 2025 due to the decrease and decline in demand for steel during that period, which was directly reflected in the decrease in net profit, despite the decrease in operating costs for the first quarter of 2025 compared to the first quarter of 2024 and the decrease in expenses (general - selling and marketing - financing) during the first quarter of 2025, but despite this decrease, it was not reflected in the profitability index due to the decrease and decline in demand rates in addition to the formation of a provision for a decrease in the value of inventory, which directly affects the decrease in net profitability for the first quarter of 2025 compared to the first quarter of 2024 |
| The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is | The reason for the decrease in sales during the current quarter compared to the previous quarter is due to the decrease in sales volume during the first quarter of 2025 compared to the last quarter of 2024, due to the decrease and decline in demand rates during the first quarter of 2025, which is offset by the increase in demand rates for iron during the last quarter of 2024 |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is | The reason for the decrease in net profit during the current quarter compared to the previous quarter is due to the decrease in sales volume and quantities during the first quarter of 2025 compared to the last quarter of 2024, due to the decrease and decline in demand rates during that period, in addition to the decrease in operating costs for the last quarter of 2024 compared to the first quarter of 2025 |
| Statement of the type of external auditor's report | Unmodified conclusion |
| 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) | NA |
| Reclassification of Comparison Items | NA |
| 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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