Full Year 2024 BHP Group Ltd Earnings Call Transcript
Key Points
- BHP Group Ltd (BHP) achieved record production at Western Australian Iron Ore, Spence, and Carrapateena.
- Copper production grew by 9% for the second consecutive year, making BHP the fastest-growing copper producer.
- The company declared a final dividend of USD0.74 per share, totaling $7.4 billion in dividends for the year.
- BHP's Jansen potash project is ahead of schedule, with first production forecast for late 2026.
- The company made significant progress on its social value goals, including a 32% reduction in greenhouse gas emissions from the 2020 baseline.
- A fatality occurred at the Saraji mine, highlighting ongoing safety challenges.
- BHP temporarily suspended its Western Australian nickel operations due to tough market conditions.
- The company faced a $2.7 billion non-cash impairment of its Western Australia nickel business.
- BHP incurred a $3.8 billion charge for the Samarco dam failure.
- Global inflation, particularly higher labor costs, impacted the company's expenses.
Hello, and thank you for joining us to hear about BHP's results for the 2024 financial year. I'm joined today by our Chief Financial Officer Vandita Pant, the company performed well again this year, operationally and financially, we delivered reliable operational performance, achieving a number of records. However, tragically, a colleague was fatally injured on the job in January, and this is a heavy reminder of the imperative to continue our relentless efforts to eliminate fatalities and serious injuries from BHP.
Our strong underlying operational and financial performance is enabled by our simple clear strategy and the discipline with which we executed. This includes our differentiated portfolio of the best assets in the most attractive commodities as well as our approaches to operational excellence and capital allocation.
Our portfolio is focused on large long-life assets in commodities that are set to benefit from the megatrends playing out around us, a growing population, increasingly urbanized seeking higher
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
