• Completed $200M cost and productivity program, additional $150M benefit in FY2027
• Delivered $1.35 per share in shareholder returns for FY2026
• Underlying EBIT increased by $535M to $1.27B
• Net cash flow up by $60M to $240M
• Net debt increased to $600M from $2M

Bluescope Steel Ltd announced its FY2026 financial results, highlighting significant achievements and strategic initiatives. The company reported an underlying EBIT of $1.27B, up $535M from the previous year, and net cash flow increased by $60M to $240M. Bluescope delivered $1.35 per share in shareholder returns, including a 65cps unfranked final dividend and a 70cps unfranked special dividend. The company also completed a $200M cost and productivity program, with additional benefits expected in FY2027. Safety performance remained a priority, with TRIFR stable year-on-year. Major projects such as the North Star debottlenecking and BCP turnaround progressed well. The company also made significant strides in sustainability, reducing steelmaking GHG emissions intensity by 16% since FY2018.

Underlying EBIT expected to be in the range of $860M to $960M in 1H FY2027

Bluescope expects higher underlying net finance costs, a similar underlying tax rate and a similar profit attributable to non-controlling interests in 1H FY2027. The company plans to deliver another $3/sh in returns in CY2027.