Australia's Sims hikes forecast as non-ferrous boosts North America businesses

By Reuters News

June 17 (Reuters) - Metal recycler Sims SGM.AX on Wednesday raised its annual underlying operating earnings forecast, citing strength across non-ferrous markets and improved trading conditions for ferrous metals.

Sims expects earnings from its North American Metal businesses to increase in the second half of the year, driven by strong performances across Sims North America Metals and its joint venture unit, SA Recycling.

The company now sees underlying earnings before interest and taxes (EBIT) for 2026 between A$420 million ($296.73 million) and A$435 million, compared with its previous forecast range of A$350 million to A$400 million.

Sims also expects underlying EBIT for Sims Lifecycle Services to be in range of A$170 million to A$175 million for the year, driven by structural growth trends underpinning the global data centre ecosystem.

The company, however, flagged that ferrous market conditions in Australia and New Zealand remain subdued due to elevated Chinese steel exports.



($1 = 1.4154 Australian dollars)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.
The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.
To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.