Watani Iron Steel Co. announces its Interim Financial results for the Period Ending on 2025-03-31 ( Three Months )

14 May 2025 01:31 PM

WATANI STEEL 9513 -4.11% 2.10 -0.09

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Sales/Revenue	119,470,437	145,344,074	-17.801	163,654,437	-26.998
Gross Profit (Loss)	9,936,123	10,997,921	-9.654	14,342,999	-30.724
Operational Profit (Loss)	4,149,378	6,568,120	-36.825	9,329,305	-55.523
Net profit (Loss)	2,873,025	4,913,776	-41.531	7,600,396	-62.199
Total Comprehensive Income	2,873,025	4,913,776	-41.531	6,648,874	-56.789
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Total Shareholders Equity (after Deducting Minority Equity)	254,228,798	247,353,166	2.779
Profit (Loss) per Share	0.02	0.03
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Amount	Percentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value	-	-
Accumulated Losses	-	-
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the same quarter of the last year is	The previous reason for the decline in first quarter sales compared to the first quarter of 2024 is due to the lack of a shortage and a decline in the domestic product for the first quarter of 2025
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The reason for the decrease in net profit during the current quarter compared to the same quarter of the previous year is due to the decrease in sales volume for the first quarter of 2025 due to the decrease and decline in demand for steel during that period, which was directly reflected in the decrease in net profit, despite the decrease in operating costs for the first quarter of 2025 compared to the first quarter of 2024 and the decrease in expenses (general - selling and marketing - financing) during the first quarter of 2025, but despite this decrease, it was not reflected in the profitability index due to the decrease and decline in demand rates in addition to the formation of a provision for a decrease in the value of inventory, which directly affects the decrease in net profitability for the first quarter of 2025 compared to the first quarter of 2024
The reason of the increase (decrease) in the sales/ revenues during the current quarter compared to the previous one is	The reason for the decrease in sales during the current quarter compared to the previous quarter is due to the decrease in sales volume during the first quarter of 2025 compared to the last quarter of 2024, due to the decrease and decline in demand rates during the first quarter of 2025, which is offset by the increase in demand rates for iron during the last quarter of 2024
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous one is	The reason for the decrease in net profit during the current quarter compared to the previous quarter is due to the decrease in sales volume and quantities during the first quarter of 2025 compared to the last quarter of 2024, due to the decrease and decline in demand rates during that period, in addition to the decrease in operating costs for the last quarter of 2024 compared to the first quarter of 2025
Statement of the type of external auditor's report	Unmodified conclusion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion)	NA
Reclassification of Comparison Items	NA
Additional Information	-

Comments