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Highlights
- BHP Group’s shares were trading in the green zone today, up 4.573% at 10:31 AM AEDT, 14 November.
- This followed the company sharing its financial results for FY22 in its AGM presentation on 10 November 2022.
- BHP reported a 16% increase in its EBITDA at US$40.6 billion.
Shares of Australian iron ore giant BHP Group Limited (ASX:BHP) leaped 4.573% higher in the morning trade today (10:34 AM AEDT, 14 November). One share of BHP was priced at AU$44.015 at the time of writing.
The increase in BHP’s share price followed the company sharing its financial results for FY22 in the annual general meeting (AGM) presentation, published on the ASX on Thursday (10 November 2022).
In the meantime, the S&P/ASX 200 index reached a new 100-day high at 7,173.60 points today (10:34 AM AEDT, 14 November), with a gain of 15.60 points, alongside the broader market index S&P/ASX 200 Metal and Mining surging 3.935% higher at 5,962.1 points.
Highlights from BHP’s annual general meeting
- For FY22, BHP reported 16% (US$40.6 billion) higher EBITDA than for FY21.
- The EBITDA margin, on the other hand, increased by 1% to 65% in total for FY22.
- BHP returned a record US$16.4 billion in cash to its shareholders in FY22 through a total dividend of US$3.25 per share.
- The mining giant’s net debt for FY22 was US$333 million, a staggering 92% decrease from FY21.
- The free cash flow of BHP during FY22 was US$25.2 billion, up 30% from FY21.
- The company’s return on capital employed (ROCE) reached 48.7% in FY22, which is 16.2% higher than its ROCE in FY21.
- The total economic contribution of BHP during FY22 was US$78.1 billion, comprising US$57.5 billion of contribution in Australia.
- According to the ASX report, by operating safely, BHP continued its three-and-a-half-year streak of no workplace fatalities in 2022.
- In 2022, the company merged its petroleum business with Woodside Energy Group Limited to give its shareholders more options about their oil and gas investments.
- Through this merger, the Australian miner distributed an additional US$19.6 billion in-specie dividend to its shareholders, bringing its total cash returns for 2022 to US$36 billion.
- BHP also approved investment in its Canadian Jansen potash site.
- By successfully decreasing GHG emissions during FY22 by 24% from the baseline year, BHP got one step closer to its goal of reducing emissions by at least 30% by 2030.
Commenting on BHP’s AGM results, Mike Henry, CEO of BHP Group, said:
Image Source: © 2022 Kalkine Media ®
Data Source: Company announcement dated 10 November 2022
Share performance of BHP
BHP's stock price has increased by 9.65% over the past month on the ASX. The price of BHP's shares has dropped 3.16% in the last six months. BHP is up 3.54% year to date (YTD), along with gaining 17.14% over the past 12 months. The share's value has increased by 61.80% in the previous five years (as of 10:41 AM AEDT, 14 November).
