Download Annual Report 2015
Chairman’s Message The 2015 financial year saw BlueScope’s best profit performance since the impact of the global financial crisis on the steel sector in 2009. Dear Shareholder The 2015 financial year saw BlueScope’s best profit performance Strategy review since the impact of the global financial crisis on the steel sector BlueScope has a diverse portfolio of businesses. We are a global in 2009. leader in premium branded coated and painted steel products The Company’s return to earnings growth is pleasing. While and have regional strengths in engineered steel buildings. there is still a lot of work to do to achieve acceptable return on We have a strong competitive advantage in global markets – invested capital, I commend BlueScope employees across the highlighted by our outstanding brands, technology, channels globe for this year’s result. to market and manufacturing footprint. Underlying earnings grew across the Company in all but one We are the third largest manufacturer of painted and coated steel of our five operating segments. products globally, the number one in building and construction markets and the recognised quality leader in nine countries. Underlying performance In our North Star BlueScope Steel joint venture, we operate BlueScope’s net profit after tax (NPAT) of $136.3 million arguably the best performing steel plant in the US. was $218.7 million higher than FY2014. Underlying NPAT was $134.1 million, an increase of nine per cent over FY2014. The global steel industry has seen extensive changes in recent times. For example, from an annual average of 52 million tonnes Full year underlying EBIT was $301.8 million, 14 per cent higher in 2010–2013 China’s finished steel exports have doubled to over than the comparable period in FY2014 (prior to restatement of 100 million tonnes per annum, an increase equivalent to 20 times discontinued operations).
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