Australian mining company BHP Billiton has announced its financial results for the first half ended on December 31 of the financial year 2022-23.
Accordingly, BHP Billiton has posted a net profit of US$6.46 billion for the first half of the financial year 2022-23, down from a net profit of US$9.44 billion in the corresponding period of the previous financial year, while the company’s revenue decreased by 16 percent year on year to US$25.71 billion. The decreases in the net profit and revenue were due to lower iron ore prices.
Meanwhile, BHP Billiton reported EBITDA of US$13.2 billion for the first half, decreasing by 28.4 percent compared to US$18.46 billion in the same period of the previous year, while its EBITDA margin fell to 54 percent in the first half of the year, from 64 percent in the first half of the financial year 2021-22.
The company expects its iron ore production to be in the range of 249-260 million mt in the financial year 2022-23.