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BHP Results for Year Ended 30 June 2019

Mining News - Published on Tue, 20 Aug 2019

Image Source: SteelGuru
BHP Chief Executive Officer, Andrew Mackenzie said “Our performance over the past five years has delivered an increase in volumes of 10 per cent and a reduction in unit costs of more than 20 per cent across our major assets. Over the 2019 financial year, underlying improvements in our operational performance were offset by the impacts of weather, resource headwinds and unplanned outages in the first half of the year. At Western Australia Iron Ore, unit costs on a C1 basis were below USD 13 per tonne for the 2019 financial year. Higher prices and record production from several of our operations contributed to strong operating cash flows. We used that cash to invest in attractive growth projects, advance our exploration programs and increase returns to shareholders. We now have six major projects under development in petroleum, copper, iron ore and potash, following the approval of the Ruby oil and gas development this month. All of them are on schedule and budget. This disciplined approach sets us up to deliver strong returns over the long term. Our transformation programs have the potential to unlock significant value through more productive and stable operations, as we embrace new ways of working and harness new technology.

Highlights
Attributable profit of USD 8.3 billion and Underlying attributable profit of USD 9.1 billion up 2% from the prior year

Profit from operations of USD 16.1 billion and Underlying EBITDA of USD 23.2 billion at a margin of 53% for continuing operations

Record final dividend of 78 US cents per share, which includes an additional amount of 25 US cents per share above the 50% minimum payout policy

Source :

Posted By : Sanju Moirangthem on Tue, 20 Aug 2019
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