Reporting Season

An insider's guide to BHP's future growth plans: Nickel out, Potash in

Wed 21 Feb 24, 1:02pm (AEST)


  • BHP Group released its first-half results, with a strong underlying performance overshadowed by a 86% profit plunge
  • Statutory net profits were significantly impacted by two "exceptional items": One related to the Nickel West business, and the other an impairment linked to the settlement from the Samarco Dam failure in Brazil
  • Despite the challenging financial outcomes, BHP Group's Chief Financial Officer, David Lamont, emphasised that the operational performance remains robust
  • Lamont highlighted that two of BHP Group's primary commodities, Iron Ore and Copper, experienced price increases of around 21% and 5% respectively, resulting in strong operating cashflows that surpassed expectations
  • Lamont reiterated BHP's commitment to maintaining a 50% minimum payout ratio and explained his rationale behind the sustainability of iron ore prices at their current levels, despite a shortfall in demand for Chinese real estate

Created By

Ally Selby

Wed 21 Feb 24, 1:02pm (AEST)

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