Financial Performance

The year 2019 was marked with a few financial challenges. Overall company revenue dropped by 12% compared to the previous year as a result of lower netbacks for all products. Consequently, these lower netbacks as well as higher feedstock prices, resulted in the net profit for 2019 being approximately 97% lower than in 2018.In response, Qatar Steel has ramped up operational efficiencies aiming to reduce operational costs considerably. The full value of improved efficiencies undertaken would be clearer in the next outcomes of the 2020 outcomes.