Financial Results : Al Yamamah Steel profit drops 85% to SAR 4.6M in Q1 2024/25

Al Yamamah Steel profit drops 85% to SAR 4.6M in Q1 2024/25

09/02/2025 Argaam Exclusive

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Al Yamamah Steel Industries Co. reported a net profit of SAR 4.6 million for the first quarter ended Dec. 31, 2024, a decrease of 85% year-on-year from SAR 29.5 million in the prior-year period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Revenues 630.72 484.44 (23.2 %)
Gross Income 72.93 39.15 (46.3 %)
Operating Income 49.12 18.69 (61.9 %)
Net Income 29.55 4.59 (84.5 %)
Average Shares 50.80 50.80 -
Earnings Per Share before unusual items (Riyals) 0.58 0.09 (84.5 %)
EPS (Riyals) 0.58 0.09 (84.5 %)

The company attributed the profit decline year-on-year to a drop in sales by 23.19%, or SAR 146.27 million, as well as a fall of 6.26% in product selling prices in the construction segment.

 

The first-quarter net earnings rose 7.7% from SAR 4.26 million compared with the previous quarter, driven mainly by higher sales and product selling prices.   

 

Shareholders’ equity, excluding minority interest, stood at SAR 593.67 million as of Dec. 31, 2024, compared to SAR 547.69 million a year earlier.

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