Saudi Arabia’s Al Yamamah Steel Industries reported a sharp increase in net profit for the nine months ended June 30, 2026, supported by higher sales in its electricity segment and lower costs across its electricity and construction businesses.
Revenue increased 6.6pct YoY to SAR 1.57 bln (USD 419.1 mln) from SAR 1.47 bln (USD 393.2 mln), while net profit surged 254pct to SAR 148.2 mln (USD 39.5 mln) from SAR 41.9 mln (USD 11.2 mln).
The company attributed the revenue growth mainly to stronger electricity-sector sales, where sales volume increased 43.9pct YoY and sales value rose 40.9pct.
Profitability also benefited from lower costs. Al Yamamah Steel said the cost of sales declined 11.2pct in the electricity segment and 8.4pct in the construction segment. Gross profit consequently increased 88.5pct YoY to SAR 280.8 mln (USD 74.9 mln), while operating profit rose 164pct to SAR 213.7 mln (USD 57 mln).
In the latest quarter, revenue increased 14.7pct YoY to SAR 547.5 mln (USD 146 mln), while net profit rose more than fourfold to SAR 62.1 mln (USD 16.6 mln) from SAR 15.4 mln (USD 4.1 mln). The quarterly improvement was supported by a 51.3pct increase in electricity-sector sales volume and a 44.2pct rise in sales value. Construction-sector sales value increased 9.4pct, while selling prices in the segment rose 11.9pct. The company also reported lower costs of sales in both segments.
Compared with the previous quarter, revenue increased 4.1pct and net profit rose 28.1pct, supported by higher electricity-sector volumes and sales, as well as stronger sales values and selling prices in the construction segment.
Al Yamamah Steel specializes in the manufacturing and sale of a variety of products including welded tubes, sheets, rebars, and three-dimensional space structures, primarily serving the buildings and infrastructure sector. The company also produces galvanized steel lighting and distribution poles, high mast structures, and galvanized steel lattice towers for the electrical and distribution industry. Its production facilities are strategically located in Jeddah, Dammam, and Yanbu.
1 USD / 3.75 SAR