Australian mining company BHP Billiton has announced its financial results for the financial year 2021-22 ended on June 30.
Accordingly, BHP Billiton has posted a net profit of US$30.9 billion for the financial year 2021-22, up 173.4 percent compared to a net profit of US$11.3 billion in the previous financial year, amid higher commodity prices, while the company’s revenue increased by 14.3 percent year on year to US$65.09 billion.
Meanwhile, BHP Billiton reported an EBITDA of US$40.63 billion for the year, increasing by 15.8 percent compared to $35.07 billion in the same period of the previous year, while its EBITDA margin rose to a record margin of 65 percent in the full year, from 64 percent in the financial year 2020-21.
As for the company’s iron ore production guidance for the 2022-23 financial year, it is expected to be between 249 million mt and 260 million mt, subject to further potential impacts from Covid-19 during the given financial year.
According to the statement, BHP anticipates a slowdown in advanced economies as monetary policy tightens, as well as ongoing geopolitical uncertainty and inflationary pressures. The direct and indirect impacts of Europe’s energy crisis are a particular point of concern. Tight labor markets will remain a challenge for global and local supply chains. Waves of Covid-19 infections continue to occur in the communities where the company operates.
