Australian mining company BHP Billiton has announced its financial results for the financial year 2023-24 ended on June 30.
Accordingly, BHP Billiton has posted a net profit of US$7.9 billion for the financial year 2023-24, down by 38.7 percent compared to a net profit of US$12.9 billion in the previous financial year, while the company’s revenue increased by 3.5 percent year on year to US$55.7 billion, as a result of higher iron ore prices.
Meanwhile, BHP Billiton reported an EBITDA of US$29.0 billion for the year, increasing by 3.6 percent compared to US$28.0 billion in the previous year, due to lower prices and the impacts of inflation, while its EBITDA margin remained at 54 percent in the full year, the eighth consecutive year the company has achieved a margin greater than 50 percent.
As for the company’s iron ore production guidance for the 2024-25 financial year, it is expected to be between 255 million mt and 265.5 million mt.
According to the statement, demand is expected to remain solid with the decarbonization efforts.
