BHP BILLITON RESULTS FOR THE YEAR ENDED 30 JUNE 2012
Our strategy to own and operate large, long-life, low-cost, expandable, upstream assets diversified by commodity, geography and market remains a major point of differentiation, particularly in the current, more challenging economic environment.
Underlying EBIT(1)(2) decreased by 15% to US$27.2 billion and Attributable profit excluding exceptional items(3) declined by 21% to US$17.1 billion. Exceptional items totalling US$1.7 billion contributed to a 35% decline in Attributable profit to US$15.4 billion.
Underlying EBIT margin(3) remained at a robust 39% while Underlying return on capital was 23%.
Strong momentum established with annual production records achieved at 10 operations. Our low risk, largely brownfield projects in execution are expected to create substantial shareholder value.
Net operating cash flow(4) of US$24.4 billion reflected the strong cash generating capacity of the business throughout the economic cycle. Gearing of 26% remains within the parameters defined by our solid A credit rating.
An 11% increase in the 2012 financial year dividend takes the compound annual growth rate of our progressive dividend to 26% over the last 10 years.
|
Year ended 30 June |
2012 US$M |
2011 US$M |
Change % |
|
Revenue |
72,226 |
71,739 |
0.7% |
|
Underlying EBITDA(1) |
33,746 |
37,093 |
(9.0%) |
|
Underlying EBIT(1)(2) |
27,238 |
31,980 |
(14.8%) |
|
Profit from operations |
23,752 |
31,816 |
(25.3%) |
|
Attributable profit - excluding exceptional items |
17,117 |
21,684 |
(21.1%) |
|
Attributable profit |
15,417 |
23,648 |
(34.8%) |
|
Net operating cash flow(4) |
24,384 |
30,080 |
(18.9%) |
|
Basic earnings per share - excluding exceptional items (US cents) |
321.6 |
393.5 |
(18.3%) |
|
Basic earnings per share (US cents) |
289.6 |
429.1 |
(32.5%) |
|
Underlying EBITDA interest coverage (times)(1)(3) |
53.2 |
102.8 |
(48.2%) |
|
Dividend per share (US cents) |
112.0 |
101.0 |
10.9% |
