BlueScope Steel Market Analysis and Financial Overview

EBIT Variance - Second Half FY2003 vs. First Half FY2004 380 360 440 340 A$millions 20 320 300 280 20 260 4400 220 $279m 200 20 $7m $33m $24m ($5m) ($14m) ($5m) $302m ($11m) ($6m) June 03 Half Export Prices Domestic Prices Volume / Mix NS JV Exchange Rates Conversion & Raw Material Other Dec 03 Half Other Costs Costs

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