News: BHP BHP Group Posts HY Underlying Attributable Profit From Cont Ops $6,597 Mln

Feb 21 (Reuters) - BHP Group Ltd (BHP) :

• HY UNDERLYING ATTRIBUTABLE PROFIT FROM CONTINUING OPERATIONS $6,597 MILLION VERSUS $9,715 MILLION REPORTED LAST YEAR
• GUIDANCE FOR FULL YEAR CAPITAL AND EXPLORATION EXPENDITURE OF US$7.6 BILLION REMAINS UNCHANGED
• DECLARES INTERIM DIVIDEND OF 90 CENTS PER SHARE
• HY ATTRIBUTABLE PROFIT $ 6,457 MILLION VERSUS $9,443 MILLION REPORTED LAST YEAR
• HY REVENUE FROM CONTINUING OPERATIONS $25,713 MILLION VERSUS $30,527 MILLION REPORTED YEAR AGO
• AS AT 31 DEC, NET DEBT US$6.9 BILLION, TOWARDS THE BOTTOM OF OUR TARGET RANGE OF BETWEEN US$5 AND US$15 BILLION
• WET WEATHER IN OUR COAL ASSETS IMPACTED PRODUCTION AND UNIT COSTS DURING HY
• JANSEN STAGE 1 PROJECT IS TRACKING TO PLAN, WITH TARGETED FIRST PRODUCTION BROUGHT FORWARD TO 2026, FROM 2027
• EX-CHINA STEEL MARKETS ARE EXPECTED TO REMAIN UNDER PRESSURE AS GENERAL INDUSTRIAL CLIMATE SOFTENS
• COMMENCED A FEASIBILITY STUDY FOR JANSEN STAGE 2, WHICH WE EXPECT TO BE COMPLETED DURING THE 2024 FINANCIAL YEAR
• EXPECT WEATHER FACTORS TO ABATE IN SECOND HALF
• IMPROVED END-USE DEMAND CONDITIONS ARE ANTICIPATED IN CHINA FOR STEEL
• EXPECT UNIT COSTS TO FALL IN SECOND HALF
• IN MEDIUM TERM, CHINA'S DEMAND FOR IRON ORE IS EXPECTED TO BE LOWER THAN IT IS TODAY
• JANSEN STAGE 1 IN CANADA IS ON TRACK FOR FIRST POTASH PRODUCTION IN LATE CALENDAR YEAR 2026
• FULL YEAR UNIT COST GUIDANCE FOR WAIO AND ESCONDIDA REMAINS UNCHANGED
• SEABORNE SUPPLY REGION OF QUEENSLAND HAVING BECOME LESS CONDUCIVE TO LONG-LIFE CAPITAL INVESTMENT
• IN QUEENSLAND, HAVE INITIATED PROCESS TO DIVEST THE DAUNIA AND BLACKWATER MINES
• FOR NICKEL, BELIEVE IT TO CORE BENEFICIARY OF ELECTRIFICATION MEGA-TREND AND THAT NICKEL SULPHIDES TO BE ATTRACTIVE LONGER TERM
• CHINA'S IMPORT POLICY REMAINS A SOURCE OF UNCERTAINTY
• POSITIVE ABOUT DEMAND OUTLOOK IN SECOND HALF OF FY23 AND INTO FY24
• LONGER TERM, POTASH STANDS TO BENEFIT FROM THE INTERSECTION OF GLOBAL MEGATRENDS

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