Saudi Arabia’s Watani Iron and Steel Co. (Watani Steel) reported a net loss of SAR 14.86 mln (USD 3.96 mln) in 2025, compared with a net profit of SAR 9.86 mln in the previous year, according to a filing on the Saudi Exchange.
The company attributed the loss mainly to a decline in sales, driven by lower production volumes and reduced finished product sales during the year. A partial fire in fuel storage tanks in the third quarter also caused temporary disruptions to the production process, further impacting output.
In addition, lower selling prices for finished products compared with the previous year weighed on revenue performance.
Watani Steel’s revenues fell 22.5pct YoY to SAR 428.6 mln (USD 114 mln) in 2025.
Founded in 2008 and converted into a closed joint-stock company in 2020, Watani Steel has been listed on the Nomu-Parallel Market since February 2021. The company’s annual capacity stands at 280,000 tons of billet and 320,000 tons of rebar.
1 USD / 3.75 SAR
