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Sims Limited (ASX:SGM)

ALERT: Price-sensitive ASX Announcement for SGM
Current share price for SGM : $25.585 -3.855 (-13.09%)+
Announcement
Release
17 Jun 2026 8:17AM
Price at Release
$29.440
Full Release
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Summary
Sims Limited provided a trading update indicating an improved FY26 financial outlook, with the Group's Underlying EBIT expected to range between $420 million and $435 million due to strong performances in non-ferrous markets and improved trading conditions for ferrous metals. Despite improved ferrous prices in Asia, ANZ conditions remain subdued due to high Chinese steel exports. Sims Lifecycle Services is projected to have an EBIT between $170 million and $175 million, benefiting from the growth of the global data centre ecosystem. These forecasts are based on unaudited estimates and specific assumptions.
Key Points
  • Sims Limited provided a trading update for its FY26 financial performance.
  • The expected FY26 Underlying EBIT for the Group is between $420 million and $435 million.
  • The previous EBIT range was between $350 million and $400 million.
  • The outlook improved due to strong non-ferrous markets and trading conditions for ferrous.
  • North American Metal businesses are expected to see a significant increase in second-half earnings.
  • Ferrous prices in Asia have improved, but conditions in ANZ remain subdued due to Chinese steel exports.
  • Sims Lifecycle Services (SLS) is expected to have an EBIT between $170 million and $175 million.
  • SLS continues to benefit from growth trends in the global data centre ecosystem.
  • The estimates in the update are unaudited and based on specific assumptions.
  • Sims Limited is a global leader in metal recycling and circular solutions, founded in 1917.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.