News | Reporting Season
An insider's guide to BHP's future growth plans: Nickel out, Potash in
Livewire speaks with BHP's CFO David Lamont for an inside look at the Big Australian's latest result
Mentioned
HIGHLIGHTS
- 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
