Vulcan Steel Ltd. · ASX:VSL
Vulcan Steel — Investor Presentation (August 2026)
36 slides from Vulcan Steel's investor presentation, Aug 25, 2026
Slide 1: Future Forged: Results Presentation 2026
Future ForgedRESULTS PRESENTATION 2026
Slide 2: Disclaimer
2 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION Disclaimer The material contained in this document is a presentation of They may also be based on factors which are subject information about Vulcan Steel Limited’s (“Vulcan”) activities to significant uncertainties and contingencies which may curre
Slide 3: Our focus on building lasting long term shareholder value
3 3 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION Overview Financials and Operations Priorities and Outlook Supplementary Information Our focus on building lasting long term shareholder value, maintaining our culture, putting our customers and team first have helped Vulcan navigate through the ch
Slide 4: Agenda
4 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION Overview Financials and Operations Priorities and Outlook Supplementary Information Agenda 01 02 03 04 05 Financials and Priorities and Supplementary Overview Operations Outlook Q&A information
Slide 5: Overview
01 SECTION Overview
Slide 6: Performance highlights
6 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION | Overview Financials and Operations Priorities and Outlook Supplementary Information Performance highlights R E VE N U E N Z $ A DJUSTED EBITDA 2 NZ$ SA L E S VOL UM E CUSTOM E R S TR ANSACTE D (EXCLUDING SIGNIFICANT ITEMS 3) W I TH VUL CAN 7 I N 2
Slide 7: Key strategic and operational highlights
7 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION | Overview Financials and Operations Priorities and Outlook Supplementary Information Key strategic and operational highlights Expanded into the New Zealand Maintained focus on operations Disciplined financial management rollforming market in FY26 •
Slide 8: Half-yearly volume and financial trends
8 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION | Overview Financials and Operations Priorities and Outlook Supplementary Information Half-yearly volume and financial trends REVENUE (NZ$m) TOTAL SALES VOLUME (tonnes per day) 700 1400 600 1200 500 1000 400 800 300 600 200 400 100 200 0 0 1H FY21 2
Slide 9: Vulcan’s business
9 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION | Overview Financials and Operations Priorities and Outlook Supplementary Information Vulcan’s business We now operate in seven industry verticals across the metal distribution and value-added processing industry. STEEL METALS STEEL DISTRIBUTION PLA
Slide 10: Vulcan’s business
10 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION | Overview Financials and Operations Priorities and Outlook Supplementary Information Vulcan’s business 82 Strategically 1,669 Company ~26k Active Located Sites Employees Customers Combined with Roofing Industries, Vulcan now has more than 1,600 em
Slide 11: Continuing to execute on our growth strategy
11 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION | Overview Financials and Operations Priorities and Outlook Supplementary Information Continuing to execute on our growth strategy Overriding principle - Deliver a service proposition that adds value to customers and is value-accretive to our share
Slide 12: Financials and Operations
02 Financials and SECTION Operations
Slide 13: Operating backdrop during FY26
13 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION Overview | Financials and Operations Priorities and Outlook Supplementary Information Operating backdrop during FY26 Market conditions Global economic environment & industry development AUSTRALIA • Ongoing heightened geopolitical risks continue to
Slide 14: Group financial performance
14 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION Overview | Financials and Operations Priorities and Outlook Supplementary Information Group financial performance Revenue NZ$m FY26 FY25 % Change • Revenue in FY26 increased by 22.2% YoY, driven by: Revenue 1,158.8 948.1 +22.2% - $135m contribution
Slide 15: Key drivers of EBITDA change
15 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION Overview | Financials and Operations Priorities and Outlook Supplementary Information Key drivers of EBITDA change Volume and Margin EBITDA MOVEMENT FROM FY25 TO FY26 (NZ$m) • Higher sales volume contributed to NZ$61m YoY increase in FY26 EBITDA 20
Slide 16: Segment performance
16 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION Overview | Financials and Operations Priorities and Outlook Supplementary Information Segment performance Steel Metals • Revenue increased by 46.8% YoY in FY26, driven by the nine months contribution from • Revenue increased by 3.5% YoY in FY26, du
Slide 17: Group operating expenditure (OPEX)
17 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION Overview | Financials and Operations Priorities and Outlook Supplementary Information Group operating expenditure (OPEX) Overall Key costs • Group OPEX (excluding depreciation and amortisation) in FY26 increased NZ$43.8m • Employee benefits: (20.6%
Slide 18: Cash flow and Capex
18 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION Overview | Financials and Operations Priorities and Outlook Supplementary Information Cash flow and Capex Operating cash flow (OCF) FY26 EARNINGS AND CASHFLOW (CF) MOVEMENTS (NZ$m) 140 130.3 • FY26 OCF decreased 30.4% YoY to NZ$73.0m compared with
Slide 19: Balance sheet metrics and dividend
19 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION Overview | Financials and Operations Priorities and Outlook Supplementary Information Balance sheet metrics and dividend Dividend TERM/NET DEBT FACILITIES (NZ$m) • A declared FY26 final dividend of 4.5 NZ cents per share, an increase of 1.0 cents p
Slide 20: Priorities and Outlook
03 Priorities and SECTION Outlook
Slide 21: Priorities for FY27 and FY28
21 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION Overview Financials and Operations | Priorities and Outlook Supplementary Information Priorities for FY27 and FY28 Build on the momentum in 2H FY26 - accelerate growth through our product platforms and foundation. 1 Further drive 2 Capitalise on ma
Slide 22: Outlook
22 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION Overview Financials and Operations | Priorities and Outlook Supplementary Information Outlook While conditions remain challenging, the industry is beginning to stabilise with signs of recovery. Uncertain global trade policies remain a risk. Vulcan
Slide 23: Q&A
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Slide 24: Supplementary information
05 Supplementary SECTION information
Slide 25: Half-yearly volume and financial trends
25 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION Overview Financials and Operations Priorities and Outlook | Supplementary Information Half-yearly volume and financial trends REVENUE (NZ$m) TOTAL SALES VOLUME (tonnes per day) 700 1400 600 1200 500 1000 400 800 300 600 200 400 100 200 0 0 1H FY21
Slide 26: Profit and loss segment disclosure
26 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION Overview Financials and Operations Priorities and Outlook | Supplementary Information Profit and loss segment disclosure Steel Metal Corporate Total Post NZ IFRS 16 1, NZ$m FY26 FY25 % change FY26 FY25 % change FY26 FY25 % change FY26 FY25 % change
Slide 27: Statutory and non-GAAP earnings
27 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION Overview Financials and Operations Priorities and Outlook | Supplementary Information Statutory and non-GAAP earnings NPAT attributable Revenue EBITDA EBIT NPAT EPS (NZ cents) to shareholders NZ$m (unless stated) FY26 FY25 FY26 FY25 FY26 FY25 FY26
Slide 28: Balance sheet
28 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION Overview Financials and Operations Priorities and Outlook | Supplementary Information Balance sheet NZ$m 30 Jun 26 30 Jun 25 % change Trade and other receivables 182.2 130.8 39% Inventories 384.3 333.9 15% Less trade and other payables -189.2 -143.
Slide 29: Australian and New Zealand economic indicators
29 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION Overview Financials and Operations Priorities and Outlook | Supplementary Information Australian and New Zealand economic indicators Australian AU QUARTERLY ECONOMIC GROWTH1 New Zealand NZ QUARTERLY ECONOMIC GROWTH3 economic (seasonally adjusted, %
Slide 30: Australian and New Zealand building activity
30 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION Overview Financials and Operations Priorities and Outlook | Supplementary Information Australian and New Zealand building activity Australian AU QUARTERLY CONSTRUCTION ACTIVITY - VALUE1 New Zealand NZ QUARTERLY BUILDING ACTIVITY - VALUE3 building (
Slide 31: Global sector indicators
31 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION Overview Financials and Operations Priorities and Outlook | Supplementary Information Global sector indicators Modest recovery Aluminium GLOBAL STEEL DEMAND FORECAST (m tonnes)1 W O R L D P R I M A R Y A L U M I N I U M P R O D U C T I O N (thousan
Slide 32: Steel, stainless, nickel, aluminium and freight prices
32 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION Overview Financials and Operations Priorities and Outlook | Supplementary Information Steel, stainless, nickel, aluminium and freight prices Average steel Stainless products HOT ROLLED COIL PRICE (East Asia, FOB, S/tonne) NICKEL & STAINLESS PRICE2
Slide 33: Vulcan’s health and safety update
33 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION Overview Financials and Operations Priorities and Outlook | Supplementary Information Vulcan’s health and safety update Health and safety LOST T I M E I N J U RY F R E Q U E N CY R AT E ( LT I F R ) (per 1,000,000 hours worked) • Invested in a new
Slide 34: Vulcan’s environment and sustainability update
34 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION Overview Financials and Operations Priorities and Outlook | Supplementary Information Vulcan’s environment and sustainability update Environment F Y26 E M ISS I O NS B R E A K D OW N • Scope 1 and 2 greenhouse gas (GHG) emissions were 13,395 tonnes
Slide 35: Vulcan’s business model at a glance
35 VULCAN ANNUAL REPORT 2026 / RESULTS PRESENTATION Overview Financials and Operations Priorities and Outlook | Supplementary Information Vulcan’s business model at a glance Outcome Accountable profit centres 98% delivery in full, on time Enablers Internally developed fit-for-purpose IT Flat structu
Slide 36: Thank you for joining us.
Thank you for joining us. VULCAN.CO