BlueScope updates external reporting segments to streamline North America operations

The new state-of-the-art plasma beamline cutting steel tube and beams
Image credit: BlueScope

BlueScope is set to make modifications to its external reporting segments to consolidate and simplify the reporting of its North American operations, following its recent acquisitions in the United States.

The ASX-listed company said that its Coated Products North America business, which includes the Steelscape and ASC Profiles businesses from the joint venture with Nippon Steel, will be moved from the existing Building Products Asia and North America segment and combined with the Buildings and Coated Products North America segment.

The existing Building Products Asia and North America segments will be renamed Coated Products Asia, and will now include the ASEAN-based operations of the joint venture with Nippon Steel, the wholly-owned BlueScope China business, and the Tata BlueScope business.

According to the steel company, there are no further changes to BlueScope’s existing reporting segments, and this reporting change will take effect for the fiscal year ending 30 June 2023 and subsequent years.

The adjustments to BlueScope’s reporting segments have no effect on the combined group’s reported statutory or underlying results for the current or past periods.

Comparisons of sales revenue, reported EBITDA, reported EBIT, underlying EBITDA, and underlying EBIT for the previous three years under the new and former segments, together with restated despatch volumes can be found in the company’s ASX release. 

The updated reporting segment structure will be reflected in an update of BlueScope’s extended financial history, which will be made available on the company website on 4 August 2023.

BlueScope, originally a BHP business group, became an independent steel company on 15 July 2002 and was publicly traded on the Australian Stock Exchange (ASX).