Overview
- BlueScope reported a net profit of A$802 million for the year to June 30 and an underlying EBIT of A$1.27 billion, both up strongly on the prior year.
- Company executives say the improved results vindicate their decision earlier this year to reject a A$15 billion approach from SGH and Steel Dynamics.
- The profit surge was led by a 100% rise in North American earnings driven by the North Star mill in Ohio, with record sales in South East Asia and stronger Australian product volumes.
- BlueScope declared a final ordinary dividend of 65 cents, taking ordinary dividends to A$1.30 for the year, and confirmed special dividends already paid or scheduled; it guided H1 FY27 underlying earnings to A$860–960 million.
- Management warned that higher fuel, freight and material costs linked to the Middle East conflict pose a margin risk and said domestic gas policy is critical for medium-term energy prices and the shift to lower-emission steelmaking.