Vulcan earnings decline triggers covenant ‘relaxation’

CEO Rhys Jones said the first quarter result followed a challenging end to 2024. (Image: File)

Mon, 21 Oct 2024

Dual-listed metals firm Vulcan Steel has moved to relax its banking covenants as it reported negative earnings trends have continued in the new financial year.In an update for the three months to September 30 on Monday, Vulcan reported earnings before interest depreciation and amortisation (ebitda) fell 30% to $33.1 million compared with the same period last year. Revenue dropped 13% to $263.1m and sales volumes fell 10% to 57,800 tonnes. Vulcan shares declined 0.23% to $8.70 on early trading. The company listed on the...

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