BHP Billiton posts a net profit of $1.7 billion for H1 FY 2023-24

Australian mining company BHP Billiton has announced its financial results for the first half ended December 31 of the financial year 2023-24. Accordingly, BHP Billiton has posted a net profit of US$1.7 billion for the first half of the financial year 2023-24, down from a net profit of US$7.12 billion in the corresponding period of the previous financial year, while the company’s revenues increased by 5.9% year on year to US$27.23 billion. Meanwhile, BHP Billiton reported an EBITDA of US$13.9 billion for the first half, while its EBITDA margin was at 53.3%. The company expects its iron ore production at Western Australia Iron Ore business to be in the range of 282-294 million mt in the financial year 2023-24. BHP is also studying options for growing the Western Australia Iron Ore business up to an annual 330 million mt. The company expects to complete these studies in 2025.