Trading update and earnings upgrade

Vulcan Steel Limited
29 Neales Road East Tamaki Auckland New Zealand
e: investor@vulcan.co | w: vulcan.co
Vulcan Steel Limited (“Vulcan”)
ASX/NZX/Media Release
26 April 2022
Trading update and earnings upgrade
Vulcan (ASX: VSL, NZX: VSL), an Australasia-wide industrial product distributor and
value-added processor today announced a trading update for financial year ending
30 June 2022 (“FY22”).
Vulcan’s overall revenue is up 34% year-on-year (“yoy”) for the nine months to 31 March
2022 to approximately NZ$700 million (unaudited). The Company’s Steel segment
revenue lifted 42% yoy while its Metals segment revenue grew 21% yoy during this
period. Overall sales volume recorded a 5% yoy increase for the same period. Steel
volume lifted 6% yoy while Metals volume grew 2% yoy during this period.
Following the conclusion of stronger than expected trading between February through
to third week of April, and reflecting on the balance of FY22, Vulcan is revising its
previous FY22 earnings forecasts to the range outlined below.

Vulcan’s Managing Director and CEO Rhys Jones said,
“Despite disruptions caused by COVID-19 and adverse weather in Australia, Vulcan’s
operations and financial performance have remained strong in the past three months.
The geopolitical uncertainty in Europe has added more volatility to global supply
chains and product prices for many industries including the steel sector. We continue
to focus on maintaining our high service level and product availability to support our
customer needs.”
Vulcan expects to release its full year FY22 results on Wednesday 24 August.
END
Kar Yue Yeo
Investor and media contact
Email: karyue.yeo@vulcan.co
Phone: +64 9 273 7214
This announcement was authorised by Vulcan Board of Directors
In million NZ$
(before offer costs)
Post-IFRS 16
Pre-IFRS 16
Post-IFRS 16
Pre-IFRS 16
New Guidance Range**
236-242
212-218
136-140
140-144
Previous Guidance
194-204
170-180
107-114
111-118
Dollar Change***
40
40
28
28
% Change ***
20%
23%
25%
24%
co nsiders to be its underlying financial perfo rmance o f the business presented o n a co nsistent basis
** Subject to o ngo ing risks o utlined in the Co mpany’ s P ro spectus lo dged o n 15 Oct 2021
Pro Forma* EBITDA
Pro Forma* NPAT
* P ro Fo rma financial info rmatio n as described in Vulcan’ s P ro spectus which was included to enable readers to examine what the co mpany
*** Co mpared with previo us guidance range, at mid-po int

Vulcan Steel Limited
29 Neales Road East Tamaki Auckland New Zealand
e: investor@vulcan.co | w: vulcan.co

About Vulcan
Founded in 1995, Vulcan is an Australasian-wide industrial product distributor and
value-added processor with 29 logistics and processing facilities employing over 850
staff across the company’s Steel and Metals divisions.