I need my divi 56p. Will recover by next divi in feb25. |
Just a thought at these prices why don’t they spend around £1.4 -£1.5 bln in buying back 70 mln shares and saving £40mln in dividends and bring total to 5 bln shares,show some support. |
Come divi appx 56p. Will reach new year's low after exd |
You may have to |
Time I added here, but won't pay a penny over £20.01
Copper is king in the 2020s and 30s I think. Thought about adding Blackrock Mining but decided to look for a bigger return and less fees here. |
 BHP reports 39% drop in FY24 attributable profit to $7.9bn
The Australian mining and metals company’s revenue for FY24 was $55.6bn, an increase of 3% compared to the revenue of $53.82bn in FY23
Staff Writer 27th Aug 2024
NSENERGY
BHP’s attributable profit in FY24 drops 39% to $7.9bn. (Credit: BHP)
BHP has reported an attributable profit of $7.89bn for the company’s financial year ended 30 June 2024, a 39% decrease from $12.92bn in the previous financial year.
This decline was primarily attributed to an after-tax loss of $5.8bn, driven by a $2.7bn impairment of Western Australia Nickel and a $3.8bn charge related to the Samarco dam failure.
In addition, the loss was partially offset by a post-tax gain of $700m from the disposal of the Blackwater and Daunia metallurgical coal mines in Australia.
The Australian mining and metals company’s revenue for FY24 was $55.66bn, an increase of 3% compared to the revenue of $53.82bn in FY23.
BHP’s growth in revenue is driven by higher realised prices in iron ore and copper, with sales volumes increasing by 3% and 5%, respectively.
Its basic earnings per share for FY24 was $1.6, a decrease of 39% compared to that of the prior financial year.
For FY24, BHP’s profit from operations was $17.53bn, which is 24% low compared to $23bn in FY23.
The company’s net operating cash flow increased 11% to $20.66bn in the reported financial year. In the prior financial year, BHP’s net operating cash flow was $18.7bn.
BHP’s underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) for FY24 were reported at $29bn, up from $27.95bn in FY23, representing a 4% increase.
The company’s production totalled 1,865 kilotonnes (kt) of copper, 260 million tonnes (mt) of iron ore, 22.3mt of steelmaking coal, 15.4mt of energy coal, and 81.6kt of nickel in FY24.
BHP aims to increase its copper production by an additional 4% in FY25.
BHP CEO Mike Henry said: “BHP delivered a strong set of results in FY24 on the back of solid operational performance. We delivered record volumes at Western Australia Iron Ore, where we extended our lead as the world’s lowest cost iron ore producer.
“Across our global copper assets, we grew overall copper volumes by 9% for the second consecutive year and expect to deliver a further 4% in FY25.” |
TOP NEWS: BHP cuts dividend as annual profit falls 25% amid high costs
Tue, 27th Aug 2024 08:28
(Alliance News) - BHP Group Ltd on Tuesday lowered its dividend after its annual profit declined by a quarter, reflecting volatile commodity prices and rising costs.
The Melbourne-based miner said pretax profit slumped 25% to USD16.04 billion for the financial year that ended June 30 from USD21.40 billion a year earlier, as it faced escalating costs.
Expenses, excluding net finance costs, rose 15% to USD36.75 billion from ZAR31.87 billion. Loss from equity accounted investments, related impairments and expenses was USD2.65 billion, swung from profit of USD594 million.
Revenue rose 3.4% to USD55.65 billion from USD53.81 billion, driven mainly by higher prices of iron ore and copper. These rises were partially offset by lower energy coal and nickel prices, and lower steelmaking coal volumes following the divestment of Blackwater and Daunia mines in April.
BHP said its external operating environment in 2024 financial remained relatively volatile, with key commodity prices mixed.
Underlying earnings before interest, tax, depreciation and amortisation was up 3.6% to USD29.0 billion from USD28.0 billion.
BHP declared a final divided of 74 US cents, down 7.5% from 80 cents. This dragged down by 14% its total annual payout to 146 cents from 170 cents.
Earnings per share dropped 39% to 155.8 cents from 255.2 cents.
BHP said it has a pipeline of copper projects under development in Chile and Australia.
The negative impact of inflation on its cost base continues to recede, but some elements remain a concern, the company said, adding it expects the lagged effect of inflation to continue to flow into 2025 financial.
The labour market remains a core inflationary concern, it warned.
Over the long term, the outlook for its key commodities remains positive, BHP said.
BHP shares were up 1.4% to 2,109.00 pence in London and up 0.3% at ZAR493.00 in Johannesburg early Tuesday. They closed up 1.3% at AUD41.35 in Sydney.
By Artwell Dlamini, Alliance News reporter
Comments and questions to newsroom@alliancenews.com |
Good results as expected with July guidance ,hope we get a bigger bounce than 2% today. |
BHP released its full year results on 27 August 2024 at 8.30am (AEST). Mike Henry, Chief Executive Officer, and Vandita Pant, Chief Financial Officer, reviewed the Company's operating and financial performance.
Exchange release
Results presentation
BHP Chief Executive Officer, Mike Henry:
Operational excellence underpins strong returns and investment in growth
BHP delivered a strong set of results in FY24 on the back of solid operational performance. We delivered record volumes at Western Australia Iron Ore, where we extended our lead as the world’s lowest cost iron ore producer. Across our global copper assets, we grew overall copper volumes by 9% for the second consecutive year and expect to deliver a further 4% in FY25.
As a result of this strong performance, combined with our healthy balance sheet, we determined a final dividend of 74 US cents per share, a 53% payout ratio, continuing our track record of delivering robust shareholder returns through the cycle. BHP up over 2% in Oz on Results |
Thank you I forgot |
6 month after which BHP can table another bid higher or lower |
What is the relevance of Sept 24th with Anglo |
This may go down further after exd and if higher bidding for Anglo in September 24 |
Copper at Aal good the rest iffy if they pay 30 mln that should be the limit.imho |
Upcoming events
27 August 2024, 8:30 AM Melbourne time (approximate)
BHP Results
For the year ended 30 June 2024
17 October 2024, 8:30 AM Melbourne time (approximate)
BHP Operational Review
For the quarter ended 30 September 2024 |
All the more reason for both us (PIs) and BHP to buy AAL and their copper mines! |
(presumably) Robert Friedland - most probably the best known and most successful Canadian mining man of the past thirty years. |
Read an article that soon demand will outstrip supply for copper with prices rising fast it was quoted by somebody Friedland from Ivanhoe Mines. |
At this rate AAL will be able to take over BHP 🙄 |
This is what panic selling does Fed a month late in reducing rates possibly .5% next month employment not as good as they expected USA farts everyone else sh—-s themselves + a massive correction in Japan and we go into destruct Mode things will right themselves in time. |
Sorry it is Aug. But exd will share price will be much lower |
Why every September mining stocks are at their lows. And go up again in FEB b4 final results. Happens too often |
GARYCOOK
Thanks,i must have misread it somewhere. |
84stewart,Its not been declared yet.27/08 BHP results, and dividend declaration. Last year $0.80 |
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