CANBERA (dpa-AFX) - Australia's BlueScope Steel Ltd. (BLSFF.PK, BSL.AX) reported Monday significantly higher profit in fiscal 2026, attributed to higher underlying EBIT, a non-repeat of last year's BCP impairment, as well as higher revenues. The company further announced dividend plans and outlook for first-half of fiscal 2027.
In Australia, BlueScope Steel shares were trading down approximately 1.41 percent at A$33.22.
The company, which manufactures steel products including COLORBOND and TRUECORE branded offerings, reported full-year net profit after tax of A$802.0 million, a significant increase from A$83.8 million in the prior year. Earnings per share on a reported basis climbed to 183.0 cents from 19.1 cents previously.
Underlying net profit after tax reached A$851.2 million compared with A$420.8 million a year ago, representing a 102 percent increase. Underlying earnings per share rose to 194.2 cents from 95.9 cents last year.
Earnings before interest and tax or EBIT of A$1.202 billion increased 306 percent from A$295.8 million a year ago. Underlying EBIT totaled A$1.273 billion, up 73 percent from A$738.2 million last year, driven by stronger US spreads, record Southeast Asia performance, solid cost performance, and record despatches of COLORBOND and TRUECORE steel in Australia.
Underlying EBITDA reached A$1.966 billion, up 35 percent from A$1.452 billion last year.
Sales revenue from continuing operations totaled A$16.606 billion, 2 percent higher than prior year's A$16.253 billion, reflecting higher selling prices.
For the year 2026, the board approved payment of an unfranked final ordinary dividend of 65 cents per share and an unfranked special dividend of 70 cents per share. The combined A$1.35 per share will be paid during the first half of fiscal 2027.
The dividend's record date is September 9 and payment date is October 13.
Further, BlueScope said it plans to deliver A$3.00 per share in shareholder returns during the 2027 calendar year, comprising an A$1.30 annual ordinary dividend per share and A$1.70 per share through on-market buy-backs, special dividends, or other methods, totaling approximately A$1.3 billion.
Looking ahead, the company expects underlying EBIT in the first half of fiscal 2027 to range from A$860 million to A$960 million.
BlueScope said it has entered the new year with solid momentum, though operating conditions remain mixed. North America continues to show strength, Australia is recovering, and Southeast Asia maintains strong momentum, while Chinese overcapacity continues to pressure Asian spreads.
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