Al Jazeera Steel Products Co. posted a 60pct YoY increase in net profit for the first half of 2025, reaching OMR 4.12 mln (USD 10.68 mln), up from OMR 2.56 mln in the same period last year, according to its latest financial results. Revenue rose 9pct to OMR 76.5 mln (USD 198.3 mln), compared to OMR 69.9 mln in H1 2024.
Production volume climbed 15pct YoY to 239,480 tons, while sales volume rose 19pct to 260,770 tons.
The company attributed its performance to a strong market focus, close customer engagement, and strategic diversification into higher value-added products. It highlighted ongoing efforts to align with evolving market demands and expand its product portfolio.
Al Jazeera noted that global steel demand remained affected by geopolitical tensions and tariff barriers. While the U.S. market is gradually adjusting to new tariff regimes and prices are improving, Europe continues to experience weak consumption. In contrast, GCC markets remain resilient, supported by sustained activity in residential and infrastructure construction.
Although new project announcements in the GCC have slowed slightly following a record year in 2024, the shift toward execution has boosted steel demand. Al Jazeera emphasized that this phase is expected to continue, with Saudi Arabia leading the MENA region with USD 419.3 bln worth of projects planned or underway.
Despite global headwinds, including trade barriers, tariffs, and a competitive pricing landscape, the company said it has effectively navigated challenges by managing costs and focusing on revenue and profitability growth.
Al Jazeera also completed its American Petroleum Institute (API) re-certification audit, affirming its capability to supply API-grade pipes for line pipe applications. The company continues to prioritize value-added grades and high-end applications at its merchant bar mill.
Investments in mill upgrades have begun to yield results, with several new products successfully launched to the market, the company said.
Established in 1996, Al Jazeera Steel Products Co. is a major steel producer with operations divided into two business segments: a tube mill and a merchant bar mill. The company’s tube mill facilities consist of four production lines with a combined annual capacity of 300,000 tons. The merchant bar mill also has an annual capacity of 300,000 tons and produces a range of steel products, including channels, angles, flats, squares, rounds, and rebars. In Saudi Arabia, Al Jazeera operates a subsidiary focused on importing and selling steel products made at its main plant in Oman. As part of its expansion strategy, the company is establishing a 450,000-ton medium section mill in Kezad, Abu Dhabi, UAE.
1 USD / 0.38 OMR
