Arab Steel Summit
Arab Steel Summit
Arab Steel Summit

Decreased demand reduces Watani Steel’s profits by 15% in H1 2022

Watani Iron and Steel Company “Watani Steel” recorded a 15% decrease in net profit during the first half of 2022 on an annual basis.

According to the company’s financial statements, issued on the Saudi Tadawul website, the net profit amounted to 25.49 million riyals after zakat and tax, compared to 30 million riyals in the same period of 2021.

The company attributed the decline in profits; Due to the decline in the amount of sales, due to the low rates of demand for iron, which led to a stagnation in the iron market, despite the high rate of profitability per ton compared to the same period of the previous year.

The company achieved revenues of 311.36 million riyals in the first 6 months of 2022, compared to 322.02 million riyals in the same period last year.


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لوريم ايبسوم هو نموذج افتراضي يوضع في التصاميم لتعرض على العميل ليتصور طريقه وضع النصوص بالتصاميم سواء كانت تصاميم مطبوعه لوريم ايبسوم ليتصور طريقه لوريم ايبسوم.

About AISU

Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.

It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.

Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.


92 Members

28 Board of Directors

17 Country

300.000 Employees

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