05
May
10:42
Hadeed first-quarter earnings diminish on lower sales prices
Saudi Iron & Steel Company (Hadeed), a subsidiary of petrochemical giant Sabic, reported a 5% on-quarter and 24% on-year decline in first-quarter revenue to SAR 3.26 billion ($869.3 million), driven primarily by lower average sales prices, Kallanish notes.
The company's sales volumes in Q1 were flat versus the previous quarter. However, on-year, average sales price and volumes were each down 13%, Sabic says in its latest earnings report.
Q1 Ebitda sh…
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