01
Nov
17:26
Hadeed third-quarter earnings drop despite higher prices
Saudi Iron & Steel Company (Hadeed) reported a 12% on-quarter drop in third-quarter revenue to SAR 3.1 billion ($826 million), driven primarily by lower sales volumes. This was offset partially by higher average sales prices, Kallanish notes.
Its Ebitda fell 30% to SAR 234m and the firm sunk to an operating loss of SAR 40m from a SAR 60m profit in Q2, due mainly to an increase in raw materials cost.
Average sales prices rose 14%; however, sales volume decreas…
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Anonymous
Very good overview of the weekly steel market.
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