• EBITDA down 30.5% to NZ$57m, NPAT down 64.8% to NZ$9m
• Interim dividend of NZ$2.5c per share, down from NZ12.0c in 1H FY24
• Sales volumes down 8.3% to 109,217 tonnes

Vulcan Steel Ltd reported a challenging first half of FY25, with EBITDA down 30.5% to NZ$57m and NPAT down 64.8% to NZ$9m compared to the prior corresponding period. Sales volumes declined 8.3% to 109,217 tonnes, and the company declared an interim dividend of NZ$2.5c per share, down from NZ12.0c in 1H FY24. Despite the headwinds, Vulcan maintained high service levels, enhanced sales efforts, and exercised cost discipline to navigate the challenging trading environment. The company's customers across Australia and New Zealand continued to face restrictive interest rates and challenging economic conditions, with the Victorian market in Australia experiencing the most significant decline. Globally, economies remained largely flat, with East Asia facing ongoing economic concerns and heightened geopolitical risks creating uncertainty for global trade. Inflationary pressures on operating costs are gradually moderating, except for rental costs, which remain elevated in specific locations. Vulcan is focused on maintaining a customer service mindset, exercising financial prudence, and capitalizing on an emerging economic upswing. The company is also building bench strength to support growth, further exploring acquisition opportunities, and continuing the rollout of hybrid sites to expand its footprint and scale.

Vulcan is focused on maintaining a customer service mindset, exercising financial prudence, and capitalizing on an emerging economic upswing. The company is also building bench strength to support growth, further exploring acquisition opportunities, and continuing the rollout of hybrid sites to expand its footprint and scale.