2026 Annual meeting of shareholders

• Vulcan delivered a resilient performance in FY26, with sales volumes up 18% and revenue up 22.
• Adjusted net profit after tax increased 28%.
• Board declared a final dividend of 4.5 cents per share, bringing the total dividend to 7.0 cents per share.
• FY27 first quarter shows promising results with revenue up 39% and EBITDA up 51%.
• The industry is beginning to stabilize with signs of recovery, though conditions remain challenging.

Vulcan Steel Ltd held its 2026 Annual Meeting of Shareholders, where the Chair of the Board, Rhys Jones, and Managing Director and CEO, Gavin Street, presented on the company's performance and outlook. Despite economic challenges, Vulcan delivered a resilient performance in FY26, with sales volumes up 18% and revenue up 22%. Adjusted net profit after tax increased 28%. The Board declared a final dividend of 4.5 cents per share, bringing the total dividend to 7.0 cents per share, totaling $10.3 million. The company also announced a leadership transition and began planning for Board renewal. In the first quarter of FY27, Vulcan reported encouraging results with revenue up 39% and EBITDA up 51%. The company expects a steady but challenging environment for the remainder of the year, with the pace of recovery dependent on moderating inflation and easing interest rates.

FY26 revenue: $1.16 billion, FY26 adjusted net profit after tax: $22 million, FY27 first quarter revenue: $353.7 million

The industry is beginning to stabilize with signs of recovery, though conditions remain challenging. The pace of recovery is uncertain, with inflation, energy costs, and global uncertainty continuing to create headwinds.