News: S32 South32 Posts HY Profit After Tax $685 Million Versus $1,032 Million

Feb 16 (Reuters) - South32 Ltd (S32) :

• HY PROFIT AFTER TAX $685 MILLION VERSUS $1,032 MILLION
• HY UNDERLYING EARNINGS $560 MILLION VERSUS $1,004 MILLION REPORTED LAST YEAR
• RESOLVED TO PAY INTERIM DIVDEND OF 4.9 CENTS PER SHARE
• RESOLVE TO PAY A FULLY-FRANKED ORDINARY DIVIDEND OF US 4.9 CENTS PER SHARE FOR HALF YEAR.
• HY UNDERLYING REVENUE US$4,524 MILLION VERSUS US$4,505 MILLION
• FY23 PRODUCTION GUIDANCE IS UNCHANGED
• EXPECT TO DELIVER A FURTHER 6% INCREASE IN PRODUCTION VOLUMES IN H2 FY23
• LONG-TERM OUTLOOK FOR OUR BUSINESS IS POSITIVE
• FY23 OPERATING UNIT COST GUIDANCE HAS BEEN LOWERED
• FY23 OPERATING UNIT COST GUIDANCE HAS BEEN LOWERED OR HELD LARGELY UNCHANGED FOR MAJORITY OF OUR OPERATIONS
• EXPANDED OUR CLIMATE CHANGE GOALS TO INCLUDE NET ZERO SCOPE 3 GREENHOUSE GAS (GHG) EMISSIONS BY 2050
• BOARD HAS ALSO EXPANDED CAPITAL MANAGEMENT PROGRAM BY US$50M, LEAVING US$158M TO BE RETURNED BY 1 SEPT
• WORSLEY ALUMINA EXPECTED TO COMPLETE ITS FIRST ONSITE BOILER CONVERSION IN MID CY23
• GROUP CAPITAL EXPENDITURE (INCLUDING EAIS) HAS BEEN REVISED DOWN BY $105M (OR 8%) TO $1,140M IN FY23
• SEES ILLAWARRA METALLURGICAL COAL FY23 OPERATING UNIT COST GUIDANCE US$119/T
• FY23 GUIDANCE FOR GROWTH CAPITAL EXPENDITURE AT HERMOSA PROJECT HAS BEEN REDUCED BY $40M TO $250M
• FY23 GUIDANCE FOR GROWTH CAPITAL EXPENDITURE AT OUR HERMOSA PROJECT HAS BEEN REDUCED BY US$40M TO US$250M
• EXPECT TO INVEST US$154M IN H2 FY23 FOR TAYLOR AND CLARK DEPOSITS
• GROUP CAPITALISED EXPLORATION (INCLUDING EAIS) HAS BEEN REVISED DOWN TO $48M (FROM $63M) IN FY23