BHP RESULTS FOR THE YEAR ENDED 30 JUNE 2022
Note: All guidance is subject to further potential impacts from COVID-19 during the 2023 financial year.
Safe, reliable production
? There have been no fatalities at BHP for over three-and-a-half-years. High-potential injury frequencyi declined by
30% during the year.
? Our strong focus on safety and health includes the elimination from BHP of sexual harassment, racism and bullying.
We have made strong progress during the year on implementing our suite of critical controls, including increased
security measures, and implementing an alcohol consumption limit across our Minerals Australia villages. We have
also held safety stops across our global workforce focused on preventing this behaviour.
? We achieved our short-term target to maintain operational greenhouse gas emissions at or below 2017 financial year
levels while we continue to grow our business.
? We launched our new social value framework and scorecard that outlines our 2030 goals, metrics and milestones.
Operational excellence: Record sales at Western Australia Iron Ore (WAIO) and record free cash flow generation
? Reliable operational performance at WAIO, with record sales (on a 100% basis) for the third consecutive year and
the South Flank Project ramp up ahead of schedule.
? Escondida achieved record material mined and near-record concentrator throughput.
? Profit from operations of US$34.1 billion, up 34% from the prior year, and record Underlying EBITDAii of
US$40.6 billion at a record marginii of 65% for continuing operations.
? Attributable profit of US$30.9 billion and record Underlying attributable profitii of US$23.8 billion, up 39% from the
prior year for total operations.
? Net operating cash flow of US$29.3 billion and record free cash flowii of US$24.3 billion for continuing operations,
reflects higher coal and copper prices and disciplined cost control.
? We paid US$17.3 billion in tax, royalty and other payments to governments in the 2022 financial year.
iii
Disciplined capital allocation: Production shafts at Jansen complete and Jansen Stage 1 progressing to plan
? Capital and exploration expenditure of US$6.1 billion for continuing operations. Capital and exploration expenditure
is expected to be approximately US$7.6 billion and US$9.0 billion for the 2023 and 2024 financial years.
? The Jansen Stage 1 project is tracking to plan and we are working to bring forward first production into 2026, while
also assessing options to accelerate Jansen Stage 2.
? At WAIO we have revised medium-term production guidance to greater than 300 Mtpa and we are assessing
330 Mtpa expansion alternatives.
? In exploration, we continue to advance copper targets in a number of countries as well as our nickel exploration
programs in Canada and Australia.
? Net debtii at US$0.3 billion, compared to US$4.1 billion at 30 June 2021.
Value and returns: Record US$36.0 billion of total announced returns to shareholders
? The Board has determined to pay a final dividend of US$1.75 per share or US$8.9 billion, which includes an additional
amount of US$0.60 per share (equivalent to US$3.0 billion) above the 50% minimum payout policy. Total cash
dividends announced of US$3.25 per share, equivalent to a 77% payout ratio.
? The merger of BHP’s Petroleum business with Woodside Energy was completed on 1 June 2022 and BHP paid a
fully franked in specie dividend of US$3.86 per share or US$19.6 billion.
? The divestment of BHP’s 80% interest in BMC was completed on 3 May 2022.
? The unification of BHP’s dual listed corporate structure was completed in January 2022.
? Underlying return on capital employedii strengthened to 48.7%

see & read more on

https://www.bhp.com/-/media/documents/media/reports-and-presentations/2022/220816_bhpresultsfortheyearended30june2022.pdf