Bluescope Steel Ltd (BLSFF) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the Bluescope first half FY24 financial results presentation. I'm Mark Vassella and I'm joined this morning by David Fallew for his first results presentation as Bluescope CFO. Welcome, David. In a moment, we'll take you through the results before we take your questions. David and I are joining you today from Melbourne, part of the Eastern Kulin Nation, and I'd like to acknowledge the traditional custodians of this land, the Wiradjuri peoples. We pay our respects to Elders past, present and emerging, and to all First Nations peoples joining us today. Before we get into the details, I'd like to take a step back and put the first half FY24 result into the context of BlueScope's business model. The last decade has seen us take action to drive resilience in our business model. Resilience that allows us to deliver results through all points of the cycle. As we know, recent years have been marked by cyclically high demand levels and spreads resulting in very strong results. Current volatility is showing softer conditions. However, it is also helping prove the resilience that we know exists in the business. That resilience is underpinned by our diversification. With quality steelmaking businesses and a suite of margin enhancing premium branded products in the United States, Australia, New Zealand and throughout Asia. Our footprint of quality assets and the strength of our balance sheet are the key enablers for our through cycle performance, all supported by our 16,500 strong dedicated team. On bench strength in the organisation, recent changes at the ELT are setting us up well to continue to deliver on our strategy, with high quality executives such as David and Sam Shaman joining us. Our next generation leaders in Tanya, Christy and Peter are re...