9,367.77 TRY BIST 100 BIST 100
4.79 CNY CNY CNY
34.56 USD USD USD
36.19 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
41.35 TRY Interest Interest
74.24 USD Fossil Oil Fossil Oil
30.90 USD Silver Silver
4.09 USD Copper Copper
100.80 USD Iron Ore Iron Ore
365.00 USD Shipbreaking Scrap Shipbreaking Scrap
2,982.57 TRY Gold (gr) Gold (gr)

Al-Yamamah Steel Industries company in Saudi Arabia faces financial challenges in 2023

Al-Yamamah Steel Industries in Saudi Arabia reports a significant increase in losses to 130.1 million riyals in 2023, attributing it to a decline in construction sector prices and a rise in financing costs.

Al-Yamamah Steel Industries company in Saudi Arabia faces financial challenges in 2023

Saudi Arabia's Al-Yamamah Steel Industries Company, a metal product manufacturer for construction, electricity, and communications sectors, reported increased losses to 130.1 million riyals in 2023 compared to 26.7 million riyals in 2022.

The increase was attributed to a decrease in construction sector selling prices (27.22%), resulting in a 7.34% decrease in sales value. The company's share in the net loss of its subsidiary, Al-Yamama Rebar Company, also decreased. Additionally, financing costs increased by 42.879 million riyals due to global interest rates. Shareholders' equity reached 518.2 million riyals at the end of the period.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

South Korea's crude steel production decreased by 18.3% in October

Friday, November 22, 2024

SSAB and Saint-Gobain's slag reprocessing plant in Raahe progresses

Friday, November 22, 2024

US Steel Producer partners with Primetals Technologies for EAF Ultimate

Friday, November 22, 2024

Imported scrap prices on the decline, demand stagnant!

Friday, November 22, 2024

Roadmap for India’s steel sector: Demand, imports and future plans

Friday, November 22, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now