Sims posts $289.1M underlying profit in FY26
- Sims reported an underlying net profit after tax of $289.1 million for the fiscal 2026 full year.
- Sales revenue rose 6.9% to $8 billion while the company declared a final dividend of 20 cents per share.
- The results were driven by improved market conditions across non-ferrous and ferrous trading segments alongside structural growth in technology recycling.
Sims (ASX:SGM) reported an underlying net profit after tax of $289.1 million for the fiscal 2026 full year, representing a 247.9% increase from the prior corresponding period.
The financial performance contrasts with the previous fiscal year when the company recorded an underlying net profit after tax of $83.1 million.
The improvement reflected stronger metal trading margins, robust non-ferrous markets, SLS growth and cost containment across the group.
Sales revenue for the twelve-month period reached $8 billion, marking a 6.9% increase compared to $7.49 billion in fiscal 2025.
"We have simplified the metals portfolio, strengthened operational performance and invested in infrastructure for growth, positioning the business to advance the next phase of its strategy," said Group CEO and Managing Director Stephen Mikkelsen.
Proprietary sales volumes remained broadly unchanged at 6.3 million tonnes in FY26 compared to FY25.
Statutory NPAT in FY26 was $245.3 million. Net interest expense of $44.4 million was $10.7 million higher than in FY25, attributable to a higher average debt balance during the year as working capital funding increased in line with non-ferrous buy pricing.
The company declared a final fully franked dividend of 20 cents per share, bringing the total dividend for the year to 34 cents per share.
Following the announcement, the Sims share price was down at $22.16.
Sims’ first-half underlying EBIT is expected to be between $75 million and $90 million. Tariffs are expected to continue to protect US steel manufacturers and thereby support the demand for ferrous scrap.
