Saudi Arabia’s Watani Iron and Steel Co. (Watani Steel) reported a net loss of SAR 3.5 mln (USD 0.93 mln) for the first nine months of 2025, compared with a net profit of SAR 2.2 mln in the same period last year, according to a stock exchange filing.
The company attributed the loss to lower sales volumes and weaker prices amid soft market demand. It also cited higher direct costs following a partial fire at an external fuel tank at its Riyadh plant on August 9, which disrupted production process partially.
Watni Steel’s revenues fell 23pct year on year to SAR 300 mln (USD 80 mln).
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
