Revenue increased to NZD 1.159 billion
Vulcan Steel, which distributes and processes steel and metal products in Australia and New Zealand, announced its financial results for the financial year ended June 30, 2026.
The company’s revenue increased by 22.2% compared with the previous financial year to NZD 1,158.8 million. Adjusted EBITDA rose by 16.2% to NZD 130.3 million, while adjusted EBIT increased by 10.1% to NZD 67.8 million.
Adjusted net profit increased by 21.1% to NZD 21.7 million, while adjusted earnings per share rose by 10.8% to NZD 0.151. Reported earnings per share increased by 20% to NZD 0.144.
Sales volume increased for the first time since 2022
Vulcan Steel’s sales volume increased by 18% to 252,820 tonnes during the financial year. The company noted that this marked the first annual increase in sales volume since the 2022 financial year.
The increase in revenue and sales volume was supported by the acquisition of Roofing Industries/rollforming operations and growth in the company’s core businesses, particularly during the second half of the financial year.
The company also stated that the integration of its rollforming operations had been completed, with the business making its first full-year contribution to growth.
Gross profit margin stood at 33.2%
Vulcan Steel’s gross profit margin decreased by 1 percentage point year on year to 33.2%. However, gross profit per tonne increased by 0.4%. Operating cash flow declined by 30% to NZD 73 million due to higher working capital requirements.
The company declared a total dividend of NZD 0.07 per share for the 2026 financial year, including a final dividend of NZD 0.045 per share.
Investments in new locations and hybrid sites
Vulcan Steel opened one new location and converted four existing locations into hybrid sites to support regional growth.
The company expects capital expenditure of NZD 30-35 million in the 2027 financial year, of which NZD 14-17 million is planned to be allocated to growth initiatives.
Depreciation and amortisation expenses are expected to be NZD 67-70 million in the 2027 financial year, while interest expenses are forecast at NZD 38-41 million.
Following its 2026 financial year results, Vulcan Steel said it would provide a trading update at its annual shareholders’ meeting in October 2026.
Rollforming operations contributed to growth
Vulcan Steel expanded its operations into rollforming following the acquisition of Roofing Industries in 2025. Following the acquisition, Roofing Industries’ first three months of results were reflected in the first half of the 2026 financial year, with the company stating that the contribution was in line with expectations.
The addition of rollforming operations expanded Vulcan Steel’s range of products and services, while the acquisition also contributed to the company’s revenue growth.
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