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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  BHP Group    BHP   AU000000BHP4

BHP GROUP

(BHP)
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BHP Annual Profit Falls, Seeks Exit of Thermal Coal Assets

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08/17/2020 | 05:39pm EDT

By David Winning

SYDNEY--BHP Group Ltd. reported a 4% drop in annual net profit, and said it wanted to stop mining thermal coal and would seek buyers for some older oil and gas assets.

BHP, the world's largest listed miner by market value, reported a net profit of US$7.96 billion for the 12 months through June, down from US$8.31 billion a year earlier. The result was dragged down by U$1.1 billion in one-off charges, including costs tied to its pandemic response.

The company said its annual underlying profit fell by 1% to US$9.06 billion, missing the US$9.33 billion median forecast of eleven analysts compiled by FactSet.

Directors declared a final dividend of 55 U.S. cents a share. That brought the full-year ordinary dividends to US$1.20 a share, down 10% on 12 months earlier.

Chief Executive Mike Henry said most major economies will likely suffer deep recessions this year, with the exception of China.

"Recovery will vary considerably by country," he said. "Our diversified portfolio and high-quality assets position us to continue to generate returns in the face of near-term uncertainty."

Net debt rose to US$12.04 billion at the end of June to be at the bottom end of the company's stated US$12 billion-US$17 billion target range.

 

Write to David Winning at david.winning@wsj.com

 


Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP -4.25% 1492.2 Delayed Quote.-12.51%
BHP GROUP -0.49% 34.77 End-of-day quote.-10.66%
LONDON BRENT OIL -3.74% 39 Delayed Quote.-38.33%
WTI -3.98% 37.245 Delayed Quote.-36.69%
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Financials (USD)
Sales 2021 44 239 M - -
Net income 2021 10 319 M - -
Net Debt 2021 10 159 M - -
P/E ratio 2021 15,6x
Yield 2021 4,43%
Capitalization 163 B 116 B -
EV / Sales 2021 3,90x
EV / Sales 2022 4,01x
Nbr of Employees 31 589
Free-Float 58,1%
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Technical analysis trends BHP GROUP
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Average target price 28,88 $
Last Close Price 34,77 $
Spread / Highest target -7,96%
Spread / Average Target -16,9%
Spread / Lowest Target -35,1%
EPS Revisions
Managers
NameTitle
Mike Henry CEO & Non-Independent Executive Director
John Kenneth Norman MacKenzie Chairman
Peter Beaven Chief Financial Officer
Rag Udd CTO & VP-Technology Global Transformation
Malcolm William Broomhead Independent Non-Executive Director
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