BlueScope advises that it now expects underlying earnings before interest and tax (EBIT) of around $475 million for 1H FY2021, including the additional contribution from the recent property sale by BlueScope Properties Group.  This is an increase of around 80 per cent over 2H FY2020 underlying EBIT.

BlueScope provided an update to the market on expected 1H FY2021 underlying EBIT on 23 October 2020. 

The Company today advises that, owing to the recent completion of a sale of an industrial warehouse property developed by BlueScope Properties Group (BPG) in the United States, a large contribution to 1H FY2021 earnings is expected from BPG – with a further contribution of around $40 million expected to be added to underlying EBIT guidance provided on 23 October. This magnitude of contribution is not expected to be repeated in 2H FY2021.

BlueScope today advised that it expects underlying earnings before interest and tax (EBIT) of around $340 million for 1H FY2021 – an increase of around 30 per cent over 2H FY2020.

Mark Vassella, Managing Director & CEO, and Tania Archibald, Chief Financial Officer, have spoken at the Credit Suisse Basic Materials Conference. 

On 17 August 2020, BlueScope Steel Limited released its full year financial results for the 12 months ended 30 June 2020.

BlueScope today announced it expects preliminary unaudited underlying earnings before interest and tax (EBIT) for FY2020 to be around $560 million, with an expected contribution in the June half of around $260 million.

BlueScope today confirmed that its IT systems have been affected by a cyber incident, causing disruptions to parts of the Company’s operations.  More

BlueScope today announced that it has reinforced its strong liquidity position through enhancements to its syndicated revolving facility, including lifting the size of the facility to $1,205 million.

BlueScope today announced it is taking pre-emptive steps to bolster its financial strength in a period of global economic uncertainty caused by the spread of COVID-19.

Today, BlueScope provided a market update and withdrew a previous earnings guidance given on 24 February 2020. A further update on trading conditions will be provided when appropriate.