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Watani Iron Steel Co. announces its Interim Financial results for the Period Ending on 2026-03-31 ( Three Months )

9513
WATANI STEEL
2.13 %
1447/11/23     10/05/2026 08:15:40

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Sales/Revenue 119,884,847119,470,4370.346128,663,403-6.822
Gross Profit (Loss) 8,059,6298,511,123-5.304-3,791,168-
Operational Profit (Loss) 3,025,5884,149,378-27.083-9,971,033-
Net Profit (Loss) Attributable to Shareholders of the Issuer 2,375,0702,873,025-17.332-11,317,948-
Total Comprehensive Income Attributable to Shareholders of the Issuer 2,375,0702,873,025-17.332-11,657,734-
All figures are in (Actual) Saudi Arabia, Riyals


Element ListCurrent PeriodSimilar period for previous year%Change
Total Shareholders Equity (after Deducting Minority Equity) 238,523,169254,228,798-6.177
Profit (Loss) per Share 0.010.02
All figures are in (Actual) Saudi Arabia, Riyals


Element ListAmountPercentage 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 ListExplanation
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 increase in sales during the current quarter compared to the same quarter of the previous year is due to the higher sales volume in the first quarter of 2026 compared to the first quarter of 2025, which is attributed to higher demand rates during the first quarter of 2026.
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 decrease in net profit during the current quarter compared to the same quarter of the previous year, despite the increase in sales volume for the first quarter of 2026, is due to the fact that the decrease in the average selling price of the finished product during the first quarter of 2026 was greater than the decrease in the average cost of the finished product sold. This directly impacted the decrease in net profit for the first quarter of 2026, in addition to an increase in some expenses (general, selling and marketing, and financing) during the first quarter of 2026 compared to the same quarter of 2025.
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is The decrease in sales during the current quarter compared to the previous quarter is due to a decrease in sales volume during the first quarter of 2026 compared to the fourth quarter of 2025. This is due to a decrease and decline in demand rates during the first quarter of 2026, which is offset by an increase in demand rates for iron during the fourth quarter of 2025.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is The increase in net profit during the current quarter (the first quarter of 2026) compared to the previous quarter (the fourth quarter of 2025) is due to the increase in the average selling prices of the final product during the current quarter of 2026 compared to the average selling price of the final product for the fourth quarter of 2025, despite the decrease in sales volume for the current quarter compared to the previous quarter.
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) The company’s condensed interim financial statements for the three-month period ended 31 March 2025 were examined by another auditor who issued an unmodified opinion dated 23 Dhu al-Qi’dah 1446 AH (corresponding to 21 May 2025). The financial statements for the year ended 31 December 2025 were also audited in accordance with the International Standards on Auditing adopted in the Kingdom of Saudi Arabia by another auditor who issued an unmodified opinion dated 23 Ramadan 1447 AH (corresponding to 12 March 2026).
Reclassification of Comparison Items The company has reclassified some of the comparative figures to conform to the company's current classifications.
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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