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BHP Reports USD 12 Billion EBITDA for H1 of 2020

Mining News - Published on Thu, 20 Feb 2020

Image Source: bhp.com
BHP Chief Executive Officer Mr Mike Henry said “We delivered a strong set of half-year results, grounded in solid operational performance. Underlying EBITDA was up 15 per cent, to USS12 billion, and return on capital employed increased, to 19 per cent. With solid cash flow, the Board announced an interim dividend of 65 US cents per share, our second highest on record. BHP is in good shape. We have passionate and committed people hungry to perform. We have brought together high quality assets in a simple portfolio that allows us to create value at scale. Our balance sheet is strong and we have embedded a Capital Allocation Framework which drives discipline and better decisions. Despite near term uncertainty, due to the coronavirus outbreak, trade policy and geopolitics, we remain convinced about the positive underlying fundamentals of our commodities. We see enormous potential to reliably deliver exceptional financial and operational performance, and to grow value and returns.”

Highlights

There were no fatalities at our operated sites over the last 12 months.

Attributable profit of USD 4.9 billion and Underlying attributable profit of USD 5.2 billion up 39% from the prior period.

Profit from operations of USD 8.3 billion and Underlying EBITDA of USD 12.1 billion at a margin of 56%, with production and unit costs at all our major assets on track to achieve full year guidance.

The Board has determined to pay an interim dividend of 65 US cents per share or US$3.3 billion, which includes an additional amount of 14 US cents per share (equivalent to US$0.7 billion) above the 50% minimum payout policy.

Half year ended 31 December2019 US$M2018 USSMChange %
Total operations
Attributable profit4.8683,76429%
Basic earnings per share (cents)96.371.036%
Interim dividend per share (cents)65.055.018%
Net operating cash flow7.4427,2742%

Capital and exploration expenditure3,7953,5018%
Net debt<1)12,84310,64421%
Underlying attributable profit5,1863,73239%
Underlying basic earnings per share (cents)(i)102.670.446%
Continuing operations
Profit from operations8,3147,33313%

Underlying EBITDA12,08410,53915%
Underlying attributable profit5,1864,03229%
Net operating cash flow7,4426,70911%
 

Source :

Posted By : Rabi Wangkhem on Thu, 20 Feb 2020
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