--- title: Steel & Tube 1H25 Interim Results description: Steel & Tube reports steady navigation of weak economy, strong fundamentals, and strategic acquisitions for future growth in 1H25 Interim Results. Read more on their market outlook and growth plans. image: https://promos.steelandtube.co.nz/hubfs/2025%20Half%20Year%20Report/Steel-%26-Tube-Half-Year-Report-2025_Blog-image_v1.jpg --- [![S&T-Logo-Square-Red](https://promos.steelandtube.co.nz/hubfs/S%26T-Logo-Square-Red.jpg "S&T-Logo-Square-Red")](https://steelandtube.co.nz/) - [PRODUCTS](https://steelandtube.co.nz/products) - [CATALOGUES](https://steelandtube.co.nz/catalogues) - [SPECIFIERS](https://steelandtube.co.nz/specifiers) - [ABOUT US](https://steelandtube.co.nz/about-us-0) - [About Us](https://steelandtube.co.nz/about-us) - [– History](https://steelandtube.co.nz/corporate/history) - [– Supporting Our Communities](https://steelandtube.co.nz/supporting-our-communities) - [– Work at Steel & Tube](https://steelandtube.co.nz/corporate/employment) - [Management & Governance](https://steelandtube.co.nz/corporate/governance-1) - [– Board of Directors](https://steelandtube.co.nz/corporate/board) - [– Executive Team](https://steelandtube.co.nz/corporate/senior-management) - 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[Company News (55)](https://promos.steelandtube.co.nz/tag/company-news) - [Case Studies (24)](https://promos.steelandtube.co.nz/tag/case-studies) - [Our People (24)](https://promos.steelandtube.co.nz/tag/our-people) - [News (16)](https://promos.steelandtube.co.nz/tag/news) - [Community Initiatives (6)](https://promos.steelandtube.co.nz/tag/community-initiatives) - [Sustainability (6)](https://promos.steelandtube.co.nz/tag/sustainability) - [Events (5)](https://promos.steelandtube.co.nz/tag/events) - [Promotions (4)](https://promos.steelandtube.co.nz/tag/promotions) - [Heritage Series (1)](https://promos.steelandtube.co.nz/tag/heritage-series) - [Strategic Collaborations (1)](https://promos.steelandtube.co.nz/tag/strategic-collaborations) - Company News - Featured - News - - - Written by Andre Tjaberings on February 24, 2025 Today Steel & Tube announced its results for the six months ended 31 December 2024, as we continue to steadily navigate the weak economy and position our company for growth when demand returns. The 1H25 results announcement, investor presentation and financial statements can be viewed [here](https://steelandtube.co.nz/investor/media/2025/steel-tube-1h25-interim-result-and-acquisition). Steadily navigating a weak economy; strong fundamentals in place Steel & Tube is a cyclical business and our 1H25 results are reflective of the recessionary environment. Demand for steel remains at the lowest levels since the 1990s. Our team continues to deliver excellent service to our customers with a focus on maintaining market share. Our focus on higher value products and lower costs is driving a continuing improvement in our operating leverage which will expand our earnings growth when volumes increase. Growth and M&A investments to date are adding value and we have a strong balance sheet providing optionality. Current market conditions are presenting new M&A opportunities, as can be seen with the announcement today of the conditional acquisition of Perry Metal Protection and Waikato Sand Blasting, viewed [here](https://promos.steelandtube.co.nz/growing-customer-value-as-major-transaction-announced). While we expect the market to remain challenged for the next few months, the cycle appears to have bottomed out, and we are seeing increased customer enquiries and tenders as business confidence starts to improve. Activity is expected to start building momentum from mid-2025 (1H26) and we are well-positioned to navigate the current weaker cycle and achieve material earnings growth as market activity returns. Long term macro trends remain favourable. There is a substantial pipeline of work ahead and Steel & Tube is well positioned to capitalise on this. Growth opportunities continue to present themselves and we look forward to adding further value for our customers as we expand our offering of high value products and services. 1H25 snapshot - Volumes and revenue were impacted by weak economic conditions which have affected customer activity and demand - Robust balance sheet provides resilience and optionality for investment in growth, with net cash of $17.5m, no debt and a $100m bank facility - Given the ongoing weak economy, the Board has taken a prudent approach to cash management and no interim dividend has been declared We remain committed to providing quality steel products, solutions and service for our customers, a great workplace for our team and value to our shareholders. ### Let Us Know What You Thought about this Post. 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