Steel Mills
August 24, 2015
North Star Bluescope Steel Delivers Strong Results for FY 2015
Written by Sandy Williams
Bluescope Steel, which owns a 50 percent share of joint venture North Star Bluescope Steel, reported strong results for North Star in FY 2015.
Hot rolled product sales were AUD $762.6 million on higher volumes and favorable AUD:USD exchange rate for fiscal year 2015 (based on 50 percent share). The company kept a consistent 100 percent utilization throughout the year. Hot rolled product shipments for its share of the joint venture, totaled 508,000 tonnes in 2H 2015, compared to 501,000 tonnes in 1H, for a total of 1,009,000 tonnes for full FY 2015. Production increased 2 percent to 1,030,600 tonnes for the year. EBIT for the for the 50 percent share was AUD 107.3 million (US $77.3 million).
