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Hot Topic EARNINGS
Investment
3 mins to read

NZ Steel believes demand has reached its floor

The Australian-owned company’s underlying earnings have fallen 88%.

NZ Steel has a few initiatives under way to take cost out of the business.

Nicholas Pointon Mon, 17 Feb 2025
Key points
  • Underlying earnings before interest and tax: Down 88% to AU$3.1m
  • Revenue: Fell 14% to $427.8m from $497.4m
  • Key take away: The company believes demand can’t fall further. 

NZ Steel says it's at the bottom of the demand cycle, as its underlying earnings have fallen sharply amid low domestic demand, softening global steel prices, and volatile power prices.

ASX-listed BlueScope, which owns the New Zealand and Pacific Islands business, reported its interim results earlier

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Nicholas Pointon Mon, 17 Feb 2025
Contact the Writer: nicholas@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
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NZ Steel BlueScope Robin Davies steel Glenbrook steel
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Key points
  • Underlying earnings before interest and tax: Down 88% to AU$3.1m
  • Revenue: Fell 14% to $427.8m from $497.4m
  • Key take away: The company believes demand can’t fall further. 
Company profile
Powered by: asx logo
Change:
Price
Previous Close
Turnover
Movement
Volume
Avg Daily Volume
Daily High
Daily Low
52 Week High
52 Week Low
Related News
Investment

‘The most challenging economic conditions we’ve faced’: Vulcan

The NBR Podcast

Podcast #18: NZ’s ‘Man of Steel’ Robin Davies
General Business

Out of Office Reply: Robin Davies
Australia

BlueScope profit down 64% after bumper 2022
General Business
3

Up to 200 jobs to go under NZ Steel proposal
NZ Steel believes demand has reached its floor
Investment,
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