Aug 27 (Reuters) - BHP Group Ltd (BHP) : SEES CAPITAL AND...

Aug 27 (Reuters) - BHP Group Ltd (BHP) :

• 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

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