RIYADH: Saudi Steel Pipe Co. reported a net profit of SR192 million ($51.19 million) in 2025, representing a 6.08 percent increase compared to the previous year.
In a Tadawul statement, the company attributed the rise in net profit to land settlement compensation amounting to SR54 million, lower finance charges, and reduced borrowings.
Despite reporting higher net profit, the company’s overall revenue declined by 13.37 percent year on year to SR1.41 billion.
Its earnings before interest, tax, depreciation, and amortization stood at SR340 million in 2025, compared with SR388 million in the previous year.
The performance of Saudi steel companies listed on the Tadawul in 2025 reflected strong demand driven by Vision 2030 gigaprojects, even as broader market conditions remained challenging, with the Basic Materials sector declining about 11 percent over the year, according to Argaam data.
