Port Hedland Interim results 2015 financial year Andrew Mackenzie Chief Executive Officer Peter Beaven Chief Financial Officer 24 February 2015
Escondida Escondida Interim results 2015 financial year Andrew Mackenzie Chief Executive Officer 24 February 2015
Delivering on our commitments We continue to realise substantial productivity gains Our plans are flexible and we have reduced investment while preserving long-term value We have increased free cash flow to US4.1 billion despite…
Safety is paramount Total Recordable Injury Frequency (TRIF) (number of recordable injuries per million hours worked) 10 8 down 54% 6 4 2 0 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 H1 FY15 Interim…
Robust financial results Underlying EBITDA of US14.5 billion, down 12% Underlying attributable profit of US5.4 billion, down 31% Net operating cash flow of US10.4 billion, down 12% Capital and exploration expenditure1 of US6.4…
Angostura Interim results 2015 financial year Peter Beaven Chief Financial Officer 24 February 2015
Focusing on the factors we control Underlying EBIT variance (US billion) 15.0 Uncontrollable (-US5.9 billion) Controllable (+US2.7 billion) 12.4 1.8 0.2 10.0 9.2 0.5 (0.9) (0.3) 1.4 0.6 6.5 (0.4) (6.1) 5.0 0.0 Growth…
Petroleum & Potash: continuing to increase operating productivity Production increased by 9% to a record 131 MMboe supported by a 71% increase in Onshore US liquids volumes, although this was offset by lower average realised petroleum…
Copper: improving cost efficiency mitigates price pressure Weaker base metal prices, including an 11% decline in the average realised price of copper, significantly affected profitability A 13% reduction in Escondida unit cash costs1…
Iron Ore: unit cash costs approaching US20 per tonne WAIO production increased by 15% to a record 124 Mt1 as the ramp-up of Jimblebar continued and we improved the availability, utilisation and rate of our integrated supply chain The…
Coal: systematically reducing our costs Metallurgical coal production increased by 21% to 26 Mt as Queensland Coal and Illawarra Coal both achieved record production Average realised prices declined by approximately 20% for our coal…
Aluminium, Manganese & Nickel: higher prices boosting profitability Record manganese ore and alumina production was underpinned by strong performances at both Hotazel and the Alumar refinery Higher average realised prices for alumina,…
We are making great progress against our US4.0 billion productivity target Productivity-led volume and cost efficiencies1 (US billion) 4.0+ 4.0 2.0 3.0+ 3.0 2.0 1.0 1.0 0.0 Volumes Cash costs FY15e FY17 target 1.…
Other items affecting profitability Other items (US million) Underlying EBIT Underlying attributable profit Exceptional items 500 325 174 0 (290) (290) (361) (500) (809) (1,000) FX impact on Impairments FX…
Maximising our free cash flow by improving productivity and reducing investment We started preparing for a lower price Sources and uses of funds environment many years ago (US billion) 16 approaching US10 billion1 of annualised…
Our balance sheet is strong The Group remains committed to a strong Our balance sheet continues to strengthen balance sheet and a solid A credit rating (net debt, US billion) (gearing, %) 30 30 in January 2015, Standard & Poors…
Escondida Daunia Interim results 2015 financial year Andrew Mackenzie Chief Executive Officer 24 February 2015
Emerging economies will drive long-term commodities demand growth Short-term drivers Emerging economies will underpin global growth (emerging economies share, %) Global growth is expected to increase in CY15 100 90 consumption-led…
Iron ore: the cost curve will continue to flatten, leading to more stable pricing Short-term drivers Higher-cost Chinese supply is being curtailed (%) (US/t) Iron ore prices are likely to remain subdued 100 200 over the short to…
Coal: a scarcity of high-quality resources supports longer-term demand Short-term drivers Seaborne metallurgical coal exports (Mt) Australian supplier costs have benefited from 200 currency depreciation and lower freight rates…
Copper: positive fundamentals despite short-term price weakness Short-term drivers Chinese grid investment is increasing (RMB billion) Prices trended lower as strong supply growth 500 was compounded by concerns over Chinas…
Petroleum: oversupply will clear, requiring higher prices to meet growing demand Short-term drivers Low-cost liquids supply is declining rapidly (MMboe/d) Crude oil prices declined due to growing US 110 supply, a lower demand outlook…
Unrivalled flexibility to adapt to market volatility Our proven strategy has delivered superior returns throughout the cycle Maximise operating Maintain capital cash flow flexibility Our capital allocation framework remains…
Continuing strong operational performance Group production1 increased by 9% in Production growth from our key commodities H1 FY15 or 12% from the core portfolio (production volumes, % change, H1 FY15 versus H1 FY14) petroleum liquids…
We are reducing costs faster than anticipated We are leading the industry in the pursuit Western Australia Iron Ore Queensland Coal (unit cash costs, US/t1) (unit cash costs, US/t2) of sustainable productivity gains 30 105 unit cost…
We have substantial investment flexibility We continue to selectively invest in our Lowering our rate of investment high-returning growth options (capital and exploration expenditure2, US billion) 25 average rate of return1 remains…
Our progressive base dividend is fundamental Our strong balance sheet and solid A We aim to maintain or grow the base dividend credit rating are fundamental enablers of every period our strategy (dividends determined, US cents per…
Our proposed demerger is progressing to plan South32 assets are performing well with record A strong performance from the South32 assets manganese ore and alumina production and (Underlying EBITDA, % change, H1 FY15 versus H1 FY14)…
Our uniquely simple and high-quality portfolio A simplified portfolio supports our aim to A simplified portfolio1 continue to deliver superior returns throughout (copper equivalent production per employee) BHP Billiton excluding…
Delivering on our commitments We continue to realise substantial productivity gains Our plans are flexible and we have reduced investment while preserving long-term value We have increased free cash flow to US4.1 billion despite…
Key net profit sensitivities Approximate impact1 on FY15 net profit after tax of changes of US million US1/t on iron ore price 140 US1/bbl on oil price2 50 US1/lb on copper price 30 US1/t on metallurgical coal price 30…
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