Corporate

First Year Highlights

Highlights of the Year


• Delivered a net profit after tax (NPAT) of $452 million
• Achieved earnings before interest and tax (EBIT) of $611million (up 282%)
• Generated return on invested capital of 14.5%
• Achieved earnings per share of 57.1 cents
• Paid total dividends of 29 cents per share (fully franked)
• Generated strong cash flow of $598 million (up 163%)
• Reduced our bank debt by $540 million
• Produced a record 6.49 million tonnes of raw steel
• Achieved our best-ever safety performance with a Lost Time Injury Frequency Rate (number of lost time injuries per million hours worked) of 1.8 (down 36%)
• Continued to improve our environmental performance and achieved accreditation to the international environment management standard ISO 14001 at all our steel operating sites in Australia, New Zealand and Asia
• Worked with our customers to deliver inspired steel solutions



Creating Value for our Shareholders

Financial Performance (A$m)
2003
2002
Increase (%)
Revenue
5,302
4,593
15
Earnings before interest and tax (EBIT)
611
160
282
Net Profit after tax
452
n/a
n/a
 
EBIT by reporting segment
Hot Rolled Products
471
97
386
New Zealand
44
12
267
Coated Products Australia
119
57
109
Coates Products Asia
84
71
18

Responsibilities