News: BSL BlueScope Steel Says HY Outlook U.S. Businesses Has Improved Moderately Since August

Nov 22 (Reuters) - BlueScope Steel Ltd (BSL) :

• OUTLOOK THIS HALF FOR GROUP'S U.S. BUSINESSES HAS IMPROVED MODERATELY SINCE AUGUST
• CONFIRMED 1H FY2023 UNDERLYING EARNINGS BEFORE INTEREST AND TAX WILL BE IN RANGE OF A$800 TO A$900 MILLION
• DOMESTIC DESPATCHES IN AUSTRALIA AND NEW ZEALAND HAVE BEEN LOWER THAN ANTICIPATED DUE TO HIGH CHANNEL INVENTORIES
• UNDERLYING DOMESTIC DEMAND REMAINS SOLID SUPPORTED BY ONGOING PIPELINE OF CONSTRUCTION ACTIVITY
• HAVE INVESTED OVER A$2 BILLION TO BUILD A PLATFORM FOR LONG-TERM GROWTH IN U.S., INCLUDING NORTH STAR EXPANSION
• IN H1 FY2023 AUSTRALIAN STEEL PRODUCTS BUSINESS EXPECTED TO DELIVER A LOWER RESULT THAN 2H FY2022
• SEES SLIGHTLY WEAKER RESULT IN H1 FY2023 THAN 2H FY2022 FOR BUILDING PRODUCTS ASIA AND NORTH AMERICA
• AUSTRALIAN STEEL PRODUCTS DESPATCH VOLUME IN 1H FY2023 EXPECTED TO BE LOWER THAN 2H FY2022
• IN HY NORTH STAR BLUESCOPE STEEL IS EXPECTED TO DELIVER A RESULT AROUND A THIRD OF 2H FY2022
• NORTH STAR IN 1H FY2023 EXPECTED TO DELIVER A RESULT AROUND A THIRD OF 2H FY2022
• 1H FY2023 BUILDING PRODUCTS ASIA AND NORTH AMERICA CONTINUE TO EXPECT A SLIGHTLY WEAKER RESULT THAN 2H FY2022

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