Bisalloy Steel Group Ltd · ASX:BIS
Bisalloy Steel — FY2026 Earnings Presentation
24 slides from Bisalloy Steel's earnings presentation, Sep 17, 2026
Slide 1: FY26 Full Year Results Investor Update
rsonal use only FY26 Full Year Results Investor Update Bisalloy Steel Group Limited (ASX: BIS) September 2026 1
Slide 2: Important Information
Important Information This presentation is not, and does not form part of, any offer, invitation or recommendation in respect of securities. Any decision to buy or sell Bisalloy Steel Group Limited securities or other products should be made only after seeking appropriate financial advice. Reliance
Slide 3: Agenda
Agenda • About Bisalloy rsonal use only • FY26 Results Overview • Financial Results • Segment and Market Analysis • Strategic Plan • FY27 Strategic Projects • FY27 Outlook 3
Slide 4: Who we are
Who we are Australia’s only manufacturer of quenched and tempered high-strength, abrasion-resistant and Defence-grade steel plate. rsonal use only 46 years 37 years HY80 & HY100 Qualification Supplying qualified Defence steel to Australian and Manufacturing in Australia since 1980, ASX listed Comple
Slide 5: What we do
What we do rsonal use only WEAR STRUCTURAL DEFENCE DIGITAL SOLUTIONS Bisalloy® & BISPLATE® abrasion-resistant High-strength structural plate for Defence-grade plate for defence primes OptiWear real-time wear intelligence plate for mining, mineral processing and manufacturing and infrastructure and n
Slide 6: Where we are
Where we are FY26 revenue by entity – Note China revenue is not consolidated within the Bisalloy Steel Group and is equity accounted rsonal use only Operating footprint Unanderra, NSW Manufacturing and head office Indonesia PT Bima Bisalloy, 60% owned distribution Thailand Bisalloy (Thailand), 85% o
Slide 7: FY26 Results Overview
FY26 Results Overview Result delivered in line with guidance, with margin expansion and improved cash conversion rsonal use only FY26 revenue and earnings were lower than FY25, reflecting the planned absence of prior-year one-off items, softer domestic Wear and Structural demand and Indonesian impor
Slide 8: FY26 Performance and Management Response
FY26 Performance and Management Response Business FY26 impact Management response FY27 focus rsonal use only Segment result $17.1m, from $18.6m. Wear and Structural Defence steel growth, production planning and process control Lodge Anti-Dumping Commission application; defend Australia sales softene
Slide 9: Financial Results
rsonal use only Financial Results 9
Slide 10: Group Financial Performance Trend
Group Financial Performance Trend rsonal use only Revenue (A$m) EBITDA (A$m) • Group revenue decreased 10.6% in FY26, with the decline concentrated in Australia and Indonesia • EBITDA down 13.2%, on the planned absence of one-off items • Indonesian revenue fell $7.9m as import licensing restrictions
Slide 11: Margin expansion and improved cash conversion offset lower revenue
Margin expansion and improved cash conversion offset lower revenue Margins (%) of revenue Operating cash flow (A$m) rsonal use only 35 25 22.0 30 30.5 28.8 20 17.4 25 25.3 21.3 20.8 15 13.4 20 20.3 17.5 18.3 17.5 11.1 15 15.0 15.1 10 12.3 10 5 5 0 0 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 Gross prof
Slide 12: Nil gearing maintained for a third year, with dividends funded from operations
Nil gearing maintained for a third year, with dividends funded from operations rsonal use only NET CASH GEARING DIVIDENDS PAID to Shareholders of CAPEX UNDRAWN WESTPAC LIMIT Parent (CASH $1.5m 0% $2.4m 30.0m ) $19.6m vs $4.0m at 30 June 2025 Third consecutive year vs $15.6m in FY25 vs $1.1m in FY25
Slide 13: Segment and Market Analysis
rsonal use only Segment and Market Analysis 13
Slide 14: Australia: product mix shift to Defence steel, softer core demand
Australia: product mix shift to Defence steel, softer core demand rsonal use only Australia FY25 FY26 20 18.6 18 17.1 Segment revenue $M 128.6 119.6 16.0 16 Segment result $M 18.6 17.1 14 11.9 12 Defence Steels share of revenue 25% 33% 10 8 6 • Excluding AUKUS-related sales, total Australian sales i
Slide 15: International: Chinese Joint Venture and Thailand progressed, Indonesia constrained
International: Chinese Joint Venture and Thailand progressed, Indonesia constrained rsonal use only Overseas segment & CJV Share of Profit FY25 FY26 Chinese Joint Venture Segment revenue $M 24.5 18.2 • Share of profit up to $3.0m from $2.8m Segment result $M (excl CJV) 3.4 2.9 • Higher-value BISPLAT
Slide 16: Market conditions reinforce the case for product and geographic diversification
Market conditions reinforce the case for product and geographic diversification Market factor Evidence disclosed in the Annual Report Strategic response rsonal use only Defend the core, support channel partners and continue portfolio Domestic resources demand Softer demand from parts of the resource
Slide 17: FY27 Strategic Projects
rsonal use only FY27 Strategic Projects 17
Slide 18: Strategy focused on defending the core and building higher-value diversified earnings
Strategy focused on defending the core and building higher-value diversified earnings 1 Defend the core 2 Grow Defence steel 3 Strengthen the CJV 4 Commercialise OptiWear rsonal use only • Defend the domestic Wear and Structural • Build Defence steel in global markets • Grow higher-value BISPLATE® s
Slide 19: Project 1: defending the domestic core through trade remedy and portfolio depth
Project 1: defending the domestic core through trade remedy and portfolio depth Issue identified Actions taken in FY26 FY27 focus rsonal use only Chinese-sourced Q&T plate taking domestic market share at Lodge the application with the Anti-Dumping Commission and progress Market pricing evidence asse
Slide 20: Project 2: converting defence qualifications into international protection plate volume
Project 2: converting defence qualifications into international protection plate volume Milestone achieved Significance FY27 focus rsonal use only Completed the Australian Submarine Agency contract qualifying Bisalloy Reinforces Bisalloy’s position as Australia’s only Q&T steel plate Convert qualifi
Slide 21: Project 3: growing higher-value BISPLATE volumes through the Chinese Joint Venture
Project 3: growing higher-value BISPLATE® volumes through the Chinese Joint Venture 3.5 Action taken in FY26 FY27 focus 3.03 rsonal use only 3 2.84 2.59 Restructured the joint venture leadership team in Refine the operational elements of the business, 2.43 2.42 partnership with the joint venture par
Slide 22: Project 4: commercialising OptiWear digital wear-monitoring technology
Project 4: commercialising OptiWear digital wear-monitoring technology INSTALLATIONS PATENTABILITY STAGE 8 Confirmed Early rsonal use only Completed in the past 12 months In target international markets Commercial adoption • Moved out of development and evaluation and into commercialisation during F
Slide 23: FY27 Outlook
rsonal use only FY27 Outlook 23
Slide 24: FY27 Improvement Drivers
FY27 Improvement Drivers FY26 built capability. FY27 converts that capability into diversified earnings over time. rsonal use only Progress the Anti-Dumping Commission application and defend Wear and Structural volumes through channel support and portfolio depth Defend the core Grow international De