Logo of Watani Iron Steel Co.
Yousef Al-Turaif, CEO of Watani Iron Steel Co., expects the company to maintain its positive performance in Q4 2026, supported by strong domestic construction demand, noting that seasonal fluctuations in the building materials sector and input costs, including electricity tariffs and key raw materials, remain important considerations. 
In comments to Argaam, Al-Turaif said the company expects to sustain high sales levels in Q4, supported by faster execution of major contracting and construction projects ahead of year-end, while steel prices are expected to remain within competitive ranges, supporting operating profitability amid global raw material market trends and domestic operating costs.
Commenting on the company’s financial results, Al-Turaif said its return to profitability in Q3 2026 was supported by revenue growth of more than 111%, regular production and factory operations, and the absence of the adverse effects of previous operational disruptions, including a partial fire and production stoppages during the same period last year.
Revenue rose to around SAR 174.76 million in Q3, up 111.59% year-on-year (YoY), driven by higher sales volumes and improved average selling prices for iron and steel products.
Al-Turaif said the company had overcome the impact of the partial fire and previous production stoppages, with its factories now operating regularly to meet contractual obligations and growing domestic demand, supporting sales and revenue growth.
Regarding demand trends, Al-Turaif said the Saudi market is witnessing strong and stable demand for rebar and steel products, supported by major government projects, infrastructure developments and real estate projects linked to Saudi Vision 2030, which remain the main drivers of the company’s sales growth.
He noted that most of the company’s sales are concentrated in the Saudi market, amid strong domestic demand for steel products, while regional and international markets remain a strategic option for diversifying revenue streams, provided export opportunities generate attractive returns for the company and its shareholders.
The company posted a net profit of SAR 31.81 million in the first nine months of 2026, compared with a loss of SAR 3.55 million in the same period last year. Q3 net profit reached SAR 5.98 million, versus a loss of around SAR 4.7 million a year earlier, according to Argaam’s data.
Last month, the company transferred from Nomu Parallel-Market to the Main Market (TASI).
Logo of Watani Iron Steel Co.
Yousef Al-Turaif, CEO of Watani Iron Steel Co., expects the company to maintain its positive performance in Q4 2026, supported by strong domestic construction demand, noting that seasonal fluctuations in the building materials sector and input costs, including electricity tariffs and key raw materials, remain important considerations.
In comments to Argaam, Al-Turaif said the company expects to sustain high sales levels in Q4, supported by faster execution of major contracting and construction projects ahead of year-end, while steel prices are expected to remain within competitive ranges, supporting operating profitability amid global raw material market trends and domestic operating costs.
Commenting on the company’s financial results, Al-Turaif said its return to profitability in Q3 2026 was supported by revenue growth of more than 111%, regular production and factory operations, and the absence of the adverse effects of previous operational disruptions, including a partial fire and production stoppages during the same period last year.
Revenue rose to around SAR 174.76 million in Q3, up 111.59% year-on-year (YoY), driven by higher sales volumes and improved average selling prices for iron and steel products.
Al-Turaif said the company had overcome the impact of the partial fire and previous production stoppages, with its factories now operating regularly to meet contractual obligations and growing domestic demand, supporting sales and revenue growth.
Regarding demand trends, Al-Turaif said the Saudi market is witnessing strong and stable demand for rebar and steel products, supported by major government projects, infrastructure developments and real estate projects linked to Saudi Vision 2030, which remain the main drivers of the company’s sales growth.
He noted that most of the company’s sales are concentrated in the Saudi market, amid strong domestic demand for steel products, while regional and international markets remain a strategic option for diversifying revenue streams, provided export opportunities generate attractive returns for the company and its shareholders.
The company posted a net profit of SAR 31.81 million in the first nine months of 2026, compared with a loss of SAR 3.55 million in the same period last year. Q3 net profit reached SAR 5.98 million, versus a loss of around SAR 4.7 million a year earlier, according to Argaam’s data.
Last month, the company transferred from Nomu Parallel-Market to the Main Market (TASI).
