Steel & Tube Holdings Limited
Steel & Tube Holdings Limited Analysis
Overview
Steel & Tube was formed in 1953 and listed in 1967. It is now one of New Zealand's leading providers of steel solutions, allowing access to the widest range of steel products in the market, through its nationwide network of distribution centres. The company distributes and processes a range of steel products and operates through two divisions - Distribution and Infrastructure - and offers an end to end customer experience, advising, sourcing and supplying customers with their steel requirements.
The acquisition of complementary businesses over the years has led to Steel & Tube owning a portfolio of strong heritage brands. The company is focused on delivering quality service and products, safely to customers.
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Today, Steel & Tube operates in the New Zealand market, primarily in the construction, manufacturing and rural sectors.
Performance
The following information was extracted from Steel & Tube Holdings Limited's Full Year Results, released on 26 August 2026:
Steel & Tube FY26 Results
Progress made despite an uneven market recovery
Steel & Tube Holdings Limited (NZX: STU) has released its audited results for the 12 months ended 30 June 2026 (FY26), reporting improved normalised earnings as increased demand and operating leverage come into play.
• Normalised results improved on prior year, however unforeseen continuing market weakness and increased costs (primarily wages and energy) delayed the return to profitability
• Positive revenue and volume trends in line with market recovery, prior to disruption in Q4
• Significant operating leverage supporting earnings growth ahead of revenue, with a 40% increase in the second half of financial year normalised earnings (EBIT)
• Acquisitions continue to out-perform with galvanizing business driving margin expansion
• Disciplined focus on working capital, debt management and liquidity with further initiatives underway
• Portfolio review and proposed business divestments being executed, providing pathway to simplified business and improved return on invested capital
• Bank funding in place with ANZ facility extended to September 2027 • Board refresh in progress, in line with succession plan
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About Company
Board & Leadership
| Susan Paterson | Independent Chairman |
|---|---|
| Mark Malpass | Chief Executive Officer |
| Christopher Ellis | Independent Director |
| Andrew Flavell | Independent Director |
| Karen Mary Jordan | Independent Director |
| Cassandra Crowley | Director |
| Tim Deane | Director |
| Richard Smyth | CFO / Company Secretary |
Company Summary
| First Listed | 26th Sep 1967 |
|---|---|
| Primary Listing Venue | NZ |
| Solicitor | Chapman Tripp Auckland |
| Auditor | KPMG Auckland |
| Share Registry | Computershare Investor Services Limited |
| End of Financial Year | June |