Saudi Arabia’s Bena Steel Industries Co. reported a significant rise in net profit for 2024, reaching SAR 10.68 mln (USD 2.84 mln), more than doubling from SAR 4.81 mln the previous year.
The company attributed this growth to higher revenue and improved profit margins in its fabrication and steel coils segments.
Revenue for 2024 rose 5.3pct YoY to SAR 430.7 mln (USD 114.7 mln), driven primarily by strong performance in the steel coils segment, which contributed to the overall increase.
Headquartered in Dammam, Bena Steel Industries commenced operations in 1993 as a coil service center. Since then, it has transformed into Saudi Arabia’s major hub for cut-to-length flat products and the slitting of steel products. The company has diversified its operations to include steel fabrication, metal forming, and tube manufacturing.
1 USD / 3.75 SAR 
