BHP has reported record operational performance and strong financial results for the 2024–25 financial year (FY25), which chief executive officer Mike Henry said were underpinned by disciplined capital allocation, sector-leading margins and progress across its sustainability commitments.
The major miner delivered record copper production of more than two million tonnes (Mt) for the first time, up 28 per cent over three years, supported by growth at the Escondida and Spence mines in Chile, and Copper South Australia.
Iron ore output also reached a new high, with 290Mt produced at Western Australia Iron Ore, maintaining BHP’s position as the world’s lowest-cost major producer.
Underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) reached US$26 billion at a 53 per cent margin, while underlying attributable profit was US$10.2 billion.
The results enabled a final dividend of US$0.60 per share, bringing total shareholder returns to US$5.6 billion for the year. Payments to governments totalled US$10.4 billion, up 14 per cent on FY24.
While Henry said the global economic outlook is mixed, he highlighted the fact “demand for commodities remains strong, particularly in China and India”.
“Backed by a diversified portfolio of large, long-life assets, disciplined low-cost operations and a strong balance sheet, BHP is well-positioned to deliver enduring value through the cycle,” he said.
“Against a backdrop of global uncertainty, this strong performance has led to robust financial outcomes and reflects the resilience of BHP’s business and strategy.”
Safety outcomes also improved for BHP, with no fatalities recorded during the year and an 18 per cent decline in high potential injury frequency.
“Safety remains our highest priority, and we achieved year-on-year improvements across key metrics,” Henry said.
The company achieved gender balance across its global workforce for the first time, with female representation rising to 41.3 per cent. Indigenous procurement spend increased 40 per cent to US$853 million.
BHP reduced operational greenhouse gas emissions by 36 per cent from FY20 levels, supported by renewable power agreements and low-emissions shipping initiatives.
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