BHP Group Posts FY Underlying Attributable Profit US$13.7 Bln
Aug 27 (Reuters) -BHP Group Ltd BHP.AX:
SEES CAPITAL AND EXPLORATION EXPENDITURE ABOUT US$10 BN FOR FY25
WE ARE COMFORTABLE TO MOVE ABOVE OUR NET DEBT TARGET TEMPORARILY TO EXECUTE VALUE ACCRETIVE OPPORTUNITIES IN THE PORTFOLIO
STILL EXPECT LAGGED IMPACT FROM INFLATION AND SOME LINGERING LABOUR MARKET TIGHTNESS TO IMPACT OUR COST BASE INTO FY25
SEES CAPITAL AND EXPLORATION EXPENDITURE ABOUT US$11 BN FOR FY26
SEES FY25 ESCONDIDA COPPER UNIT COSTS OF US$1.30 – US$1.60/LB
FY UNDERLYING ATTRIBUTABLE PROFIT US$13.7 BN
IN NEAR TERM, WE EXPECT VOLATILITY IN GLOBAL COMMODITY MARKETS, WITH CHINA EXPERIENCING AN UNEVEN RECOVERY AMONG ITS END-USE SECTORS
SEES MEDIUM-TERM ESCONDIDA COPPER UNIT COSTS OF US$1.50 – US$1.80/LB
DETERMINED A FINAL DIVIDEND OF 74 US CENTS PER SHARE
SEES FY25 WAIO UNIT COSTS OF US$18.00 - US$19.50/T
FY REVENUE US$55.7 BN
WE NOW EXPECT CY24 TO BE IN MARGINAL SURPLUS FOR COPPER, A REFLECTION OF SOFTER DEMAND EXPECTATIONS FOR CHINA AND HIGHER SUPPLY
CONTINUE TO EXPECT LAGGED EFFECT OF INFLATION TO FLOW INTO FY25
LABOUR MARKET REMAINS CORE INFLATIONARY CONCERN, ALTHOUGH BELIEVE NOW PAST PEAK AND CONDITIONS SHOULD CONTINUE TO EASE
IN NEAR TERM, SLOWING DEMAND GROWTH IN CHINA IS EXPECTED TO BE PARTIALLY OFFSET BY MORE POSITIVE TRENDS IN POWER GRID SPENDING
IN MEDIUM TERM, CHINA'S DEMAND FOR IRON ORE IS EXPECTED TO BE LOWER THAN IT IS TODAY
Further company coverage: BHP.AX
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