Bluescope Steel Ltd (BLSFF) Q2 2024 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.706 -- 00:00:06.674 Good morning and welcome to the Bluescope first half FY24 financial results presentation. 00:00:06.674 -- 00:00:11.401 I'm Mark Vassella and I'm joined this morning by David Fallew for his first results presentation 00:00:11.401 -- 00:00:14.565 as Bluescope CFO. Welcome, David. 00:00:14.565 -- 00:00:19.489 In a moment, we'll take you through the results before we take your questions. 00:00:19.953 -- 00:00:23.698 David and I are joining you today from Melbourne, part of the Eastern Kulin Nation, and 00:00:23.698 -- 00:00:28.111 I'd like to acknowledge the traditional custodians of this land, the Wiradjuri peoples. 00:00:28.111 -- 00:00:33.899 We pay our respects to Elders past, present and emerging, and to all First Nations peoples 00:00:33.899 -- 00:00:36.399 joining us today. 00:00:36.783 -- 00:00:41.629 Before we get into the details, I'd like to take a step back and put the first half FY24 00:00:41.629 -- 00:00:45.835 result into the context of BlueScope's business model. 00:00:45.835 -- 00:00:50.020 The last decade has seen us take action to drive resilience in our business model. 00:00:50.020 -- 00:00:54.588 Resilience that allows us to deliver results through all points of the cycle. 00:00:54.588 -- 00:00:58.692 As we know, recent years have been marked by cyclically high demand levels and spreads 00:00:58.692 -- 00:01:01.315 resulting in very strong results. 00:01:01.315 -- 00:01:03.918 Current volatility is showing softer conditions. 00:01:03.918 -- 00:01:10.084 However, it is also helping prove the resilience that we know exists in the business. 00:01:10.084 -- 00:01:13.328 That resilience is underpinned by our diversification. 00:01:13.328 -- 00:01:18.353 With quality steelmaking businesses and a suite of margin enhancing...