Steel maker InfraBuild announced its financial and operational results for the year ending June 30, with net revenue of $5,686 million (down five per cent) and EBITDA of $651 million (down 2 per cent) for the financial year.
In a statement on Wednesday, the company – part of Sanjeev Gupta’s GFG Alliance – described performance as “consistent to last year through operational improvements, despite market conditions moderating.
“InfraBuild has maintained disciplined momentum throughout the year which is a result of our team’s hard work on workplace safety, operational excellence, and customer experience,” said the company’s new CEO, Francisco Irazusta.
“These results have allowed us to invest back into the business to drive the Carbon Neutral 2030 objective, deliver customer service improvements, and innovation, positioning us well as market conditions moderate off the highs of the past few years.”
Infrabuild is the country’s second-largest steel manufacturer after Bluescope, and the largest vertically-integrated, electric arc furnace-based long steel manufacturer.
It runs electric arc furnaces in Sydney and Melbourne, ten manufacturing sites, and a national distribution and recycling operations.
The statement added that InfraBuild “continues exploring options to raise new finance to support strategic initiatives” such as its carbon neutrality drive, which it describes as key to sustainable growth.
Picture: credit Infrabuild