Bluescope Steel Ltd (BLSFF) Q4 2024 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.757 -- 00:00:05.863 Good morning and welcome to the Bluescope FY24 financial results presentation. 00:00:05.863 -- 00:00:10.529 I'm Mark Vassella and I'm joined this morning by David Fallew, our Chief Financial Officer. 00:00:10.529 -- 00:00:14.233 Together, David and I will take you through the results materials, after which we'll 00:00:14.233 -- 00:00:16.954 have time for Q&A. 00:00:17.457 -- 00:00:20.841 We're joining you today from Bluescope's head office in Melbourne, part of the Eastern 00:00:20.841 -- 00:00:25.904 Kulin Nation. and I'd like to acknowledge the traditional custodians of this land, 00:00:25.904 -- 00:00:31.310 the Wiradjuri peoples. We pay our respects to Elders, past, present and emerging, 00:00:31.310 -- 00:00:35.333 and to all First Nations people joining us today. 00:00:35.876 -- 00:00:42.363 Despite the volatile macro conditions in FY24, Bluescope delivered a resilient performance. 00:00:42.363 -- 00:00:48.530 Underlying EBIT of $1.34 billion and a return on invested capital of 11.9%. 00:00:48.530 -- 00:00:53.296 as strong contributions from Northstar and the downstream and value-add components of 00:00:53.296 -- 00:00:58.822 the business offset the impact of soft spreads in Asia on our steelmaking operations, 00:00:58.822 -- 00:01:03.648 particularly in the second half, as regional spreads dropped below the long-term bottom 00:01:03.648 -- 00:01:05.911 of the cycle level. 00:01:05.911 -- 00:01:11.117 Thanks to that resilience, we've delivered just under $550 million in shareholder returns 00:01:11.117 -- 00:01:12.679 in FY24 00:01:12.679 -- 00:01:15.883 and finished the year with a $364 00:01:15.883 -- 00:01:19.073 million net cash balance sheet. 00:01:19.073 -- 00:01:23.924 And today the board has approved a 30 cents per sh...