Riyadh – Mubasher: Watani Iron Steel Company expects financial impact resulting from the adjustment of electricity and water service tariffs, following the governance procedures for energy and water product price amendments.
The company stated that the new tariffs are scheduled to take effect starting from 1 January 2027, according to a bourse disclosure.
Based on the company’s latest reviewed interim financial statements dated 30 June 2026, the update to electricity consumption tariffs is projected to increase the total cost of sales by approximately 1.12%.
Regarding the update to water consumption tariffs, Watani Iron Steel confirmed there is no expected material financial impact.
The financial results of these adjustments will begin to appear in the company's financial statements starting from the first quarter (Q1) of the 2027 fiscal year.
To mitigate the impact of rising costs, Watani Iron Steel plans to continue implementing measures aimed at improving operational efficiency and optimizing energy consumption.
The company stated it is committed to informing shareholders of any further developments or updates regarding these utility tariff changes.
