'Softer performance': BlueScope investors left disappointed by FY25 miss
BlueScope (ASX:BSL) chalked up a miss with its FY25 results, booking EBIT of $738.2 million; a decrease of $601M from FY24. Net profit after tax (NPAT) came in at $83.8M, a whole $721.9M lower than last year.
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While the numbers reflect a softer year, the Australian company said the result demonstrates strength in the face of global uncertainty.
“Whilst a softer performance, this level of profitability in the face of the cyclically soft conditions and global uncertainty during the year represents a resilient result, underpinned by our diversified portfolio of quality assets and multi-domestic strategy,” managing director and CEO Mark Vassella said.
He added with work underway to reduce cost and grow through-cycle earnings, BlueScope is “leveraged to the upside” as macroeconomic conditions improve.
Across regions, North Star in North America maintained its low-cost leadership. Australia delivered solid results, backed by stronger domestic volumes and continued demand for steel. Asia was steady, while New Zealand faced soft demand and high energy prices before transitioning to the new Electric Arc Furnace model.
The BlueScope Coated Products business, acquired in 2022, booked a $439 million impairment. Vassella admitted the write-down was disappointing, but reaffirmed the business as core to the company’s North American growth strategy.
Cash flow for the year was $180M, lower than FY2024 due to softer earnings and higher capex. Despite this, BlueScope ended with a robust balance and just $28M net debt.
The company also returned $293M to shareholders, with a 30c final dividend approved and the buy-back program extended for up to $240 million.
Looking ahead, BlueScope is targeting a $200 million net cost improvement in FY2026, on top of $130 million delivered in FY2025, and aims to unlock $500 million of additional annual earnings by 2030.
BSL last traded at $23.43 at Monday’s close.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please clickhere.
'Softer performance': BlueScope investors left disappointed by FY25 miss
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