Qatar Steel takes an integrated approach to business, one that emphasises the balance between the economy, environment,and society. Strategic growth not only benefits the company but also contributes to the development of Qatar’s economy.
A well-structured management reporting process has been established to provide all appropriate information to management. Qatar Steel prepares periodic financial reports and statements according to International Financial Reporting Standards (IFRS),which are externally audited by a third-party assurance firm.
Qatar Steel has experienced growth in its business over the past four years, reflected in the volume of products produced and the healthy levels of profitability. This performance is mainly driven by the increasing strength of Qatar’s economy, which leads to higher levels of investment in infrastructure. At the same time our business was also affected by the decline in international steel prices.
As a foremost player in the MENA region, Qatar Steel is committed to creating value for its stakeholders by realising and implementing various business opportunities. For this purpose, Qatar Steel has made strategic investments in other steel companies, in addition to setting up new plants. These efforts have resulted in healthy shareholders’ funds/assets over time, results that are expected to continue into the future.
Revenues (million QR)
Net profit (million QR)
Other income (including investment returns, interest income, by-product and scrap sales, and other miscellaneous income) (million QR)
Operational costs (million QR)(1)
(1) ‘Operational costs include neither ’employee wages and benefits’ nor ‘depreciation’.