Steel & Tube FY21 results Presentation – Slide 22 Updated

•Prudent and disciplined management of
expenditure continues
•Operating expenses reduced by 13.5%
from prior year
1
•FY21 savings primarily driven by improved
network structure -indirect labour,
employee benefits and restructuring and
property expenses
•Benefits from lower bad and doubtful
debts with continuing focus on managing
risk and reduced depreciation
•FY22 focus on maintaining tight cost
control with expected wage inflation
22
REDUCTION IN OPERATING EXPENSES
Sustainable fixed cost baseline now achieved
1. FY20 Opexhas been adjusted in FY21 Annual Report following a reclassification of labourcost from indirect (Opex) to COGS.
FY20 Reported
Opex
Reclassification of labour costs FY20 Reclassified
Opex
Other Employee Benefits/ RestructuringBad and Doubtful DebtsIndirect LabourD&AOther ExpensesFY21 Reported
Opex