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BIL 201402180004A
BHP Billiton Reports Strong Financial Results
BHP Billiton Plc
Registration number 3196209
Registered in England and Wales
Share code: BIL
ISIN: GB0000566504
NEWS RELEASE
Release Time IMMEDIATE
Date 18 February 2014
Number 05/14
BHP BILLITON REPORTS STRONG FINANCIAL RESULTS
BHP Billiton today announced its financial results for the December 2013 half year, with
Underlying EBIT increasing by 15 per cent to US$12.4 billion and Underlying attributable
profit increasing by 31 per cent to US$7.8 billion.
BHP Billiton CEO Andrew Mackenzie said the strong performance was driven by a
substantial improvement in productivity and additional volume from the Company’s low-risk,
largely brownfield investment program.
“The commitment we made 18 months ago to deliver more tonnes and more barrels from our
existing infrastructure at a lower unit cost is delivering tangible results,” he said.
“Annualised productivity led volume and cost efficiencies totalling US$4.9 billion are now
embedded and this is expected to increase to US$5.5 billion by the end of the 2014 financial
year.
“This sustainable increase in productivity supported a 9 per cent increase in the Group’s
Underlying EBIT margin to 38 per cent and a strong improvement in the Group’s Underlying
return on capital to 22 per cent.”
A 65 per cent increase in net operating cash flow and a 25 per cent reduction in cash
outflows from investing activities have driven a US$7.8 billion increase in free cash flow
during the period.
“The Group’s opportunity rich portfolio remains a key point of differentiation. By maintaining
strict financial discipline and increasing internal competition for capital we intend to further
differentiate ourselves by creating a more capital efficient organisation.
“On this basis, we believe an average rate of return of greater than 20 per cent is achievable
for our portfolio of major development options,” he said.
The Group’s interim dividend of 59 US cents per share was unchanged from last year’s final
dividend, consistent with recent practice. The resultant 3.5 per cent increase in the interim
distribution highlights the power of the Company’s progressive dividend policy.
With strong free cash flow projected, net debt of US$27.1 billion is expected to approach
US$25 billion by the end of the 2014 financial year.
“With strong free cash flow, selective investment and continued simplification, we are well
placed to extend our strong track record of capital management,” Mr Mackenzie said.
“I want to acknowledge the hard work of BHP Billiton employees and their contribution to
these strong results. Together we are improving the productivity and competitiveness of the
Company and the countries in which we operate.
“I also want to thank our people for their unwavering commitment to health and safety.
“We are pleased to report improved safety performance in the first half, reducing our Total
Recordable Injury Frequency to a record low of 4.4 per million hours worked.”
BHP Billiton’s financial results for the December 2013 half year, and further information on the
Company, can be found at: www.bhpbilliton.com.
Media Relations Investor Relations
Australia Australia
Emily Perry Tara Dines
Tel: +61 3 9609 2800 Mobile: +61 477 325 803 Tel: +61 3 9609 2222 Mobile: +61 499 249 005
email: Emily.Perry@bhpbilliton.com email: Tara.Dines@bhpbilliton.com
Fiona Hadley Jodie Phillips
Tel: +61 3 9609 2211 Mobile: +61 427 777 908 Tel: +61 3 9609 2069 Mobile: +61 418 710 516
email: Fiona.Hadley@bhpbilliton.com email: Jodie.Phillips@bhpbilliton.com
Eleanor Nichols United Kingdom and South Africa
Tel: +61 3 9609 2360 Mobile: +61 407 064 748
email: Eleanor.Nichols@bhpbilliton.com Jonathan Price
Tel: +44 20 7802 4131 Mobile: +44 7990 527 726
United Kingdom email: Jonathan.H.Price@bhpbilliton.com
Ruban Yogarajah Dean Simon
Tel: +44 20 7802 4033 Mobile: +44 7827 082 022 Tel: +44 20 7802 7461 Mobile: +44 7717 511 193
email: Ruban.Yogarajah@bhpbilliton.com email: Dean.Simon@bhpbilliton.com
Jennifer White Americas
Tel: +44 20 7802 7462 Mobile: +44 7827 253 764
email: Jennifer.White@bhpbilliton.com James Agar
Tel: +1 212 310 1421 Mobile: +1 347 882 3011
Americas email: James.Agar@bhpbilliton.com
Ruban Yogarajah Joseph Suarez
Tel: +44 20 7802 4033 Mobile: +44 7827 082 022 Tel: +1 212 310 1422 Mobile: +1 646 400 3803
email: Ruban.Yogarajah@bhpbilliton.com email: Joseph.Suarez@bhpbilliton.com
BHP Billiton Limited ABN 49 004 028 077 BHP Billiton Plc Registration number 3196209
Registered in Australia Registered in England and Wales
Registered Office: Level 16, 171 Collins Street Registered Office: Neathouse Place
Melbourne Victoria 3000 Australia London SW1V 1LH United Kingdom
Tel +61 1300 55 4757 Fax +61 3 9609 3015 Tel +44 20 7802 4000 Fax +44 20 7802 4111
Members of the BHP Billiton Group which is headquartered in Australia
Sponsor: Absa Capital (the investment banking division of Absa Bank Limited, affiliated with
Barclays)
Date: 18/02/2014 07:07:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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