(Reuters) -Australia’s BlueScope Steel reported a 90% drop in full-year profit on Monday, after logging an impairment charge for its coated products business and due to weak performance at its operations in North America.
The company’s coated products business in its North American division recorded a loss in fiscal 2025, impacted by lower volumes and operational woes and an impairment charge of A$438.9 million.
The North America division’s underlying earnings declined 45%, weighed down by weak performance at its North Star and Buildings and Coated Products North America operations.
The company posted net profit after tax of A$83.8 million ($54.6 million) for fiscal 2025, significantly lower than A$805.7 million reported in fiscal 2024.
On an underlying basis, the company’s profit declined 51% to A$420.8 million, pulled down by price pressures, lower volumes and higher costs.
BlueScope declared a final dividend of 30 Australian cents per share, in line with last year.
($1 = 1.5361 Australian dollars)
(Reporting by John Biju in Bengaluru; Editing by Chris Reese and Tom Hogue)
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