Steel & Tube – Trading Update – September 2022

30 September 2022
STU / NZX ANNOUNCEMENT


7 Bruce Roderick Drive, East Tamaki, 2013, Auckland PO Box 30543, Botany, 2163, Auckland
P 04 570 5000 F 04 570 2453 www.steelandtube.co.nz


STEEL & TUBE - TRADING UPDATE
Steel & Tube Holdings Limited (NZX: STU) is providing a trading update ahead of its Annual
Shareholders’ Meeting being held in Auckland today at 10:30am.
2023 Financial Year (FY23) trading through July and August has been steady across most sectors with
earnings supported by operational and trading disciplines.
Last year was impacted by the Nationwide Alert Level 4 Lockdown at 11:59pm on 17 August. In
FY23, for the 34 days to 17 August 2022, revenue was up 15% while volumes remained at the same
level as last year.
Whilst local and global economic volatility is expected to continue, Steel & Tube is well positioned to
deliver through the economic cycle. Steel pricing is expected to remain elevated in the near term.
Customer activity is anticipated to be steady although in some sectors will moderate off the recent
extraordinary high demand levels, as is already being seen.
The company will be discussing its progress and growth strategy at today’s Meeting. A copy of the
presentation and speeches will be provided to the NZX at the Meeting’s commencement.
ENDS
For media or investor enquiries, please contact: Jackie Ellis Tel: +64 27 246 2505 or
email: ja ckie@ellisandco.co.nz

For further information please contact:
Mark Malpass
Steel & Tube CEO
Tel: +64 27 777 0327
Email: mark.malpass@steelandtube.co.nz

Richard Smyth
Steel & Tube CFO
Tel: +64 4 570 5000
Email: richard.smyth@steelandtube.co.nz