Monday 19th Nov, 2018

BHP releases financial year results

Photo: BHP
Photo: BHP

MINING giant BHP Following BHP’s has reported an underlying EBITDA of US$23.2bn for the financial year just gone.

Chief executive Andrew Mackenzie said they had also announced a record final dividend for shareholders.

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“Our relentless focus on safety and productivity has released additional volumes across our supply chain, with eight per cent volume growth for the year,” Mr Mackkenzie said.

“Our balance sheet is strong, with net debt now at the lower end of our target range, and our investment plans on track across iron ore, copper, coal and petroleum.

“We have started the new year with the sale of our onshore US business for US$10.8bn, and once completed we expect to return the net proceeds to shareholders,” he said.

“Across our dramatically simplified portfolio of tier one assets, we see this year’s strong momentum carried into the medium term as our leadership, technology and culture drive further increases in productivity, value and returns.”

BHP’s main Australian operation is the export of iron ore through Port Hedland.

It also has substantial coal interests in Queensland.



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