BHP Group's (LSE: BHP) H1FY24 Revenue Surges 6% to USD 27.2 Billion

3 min read | June 12, 2024 03:20 AM AEST | By Team Kalkine

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BHP Group's (LSE: BHP) H1FY24 Revenue Surges 6% to USD 27.2 Billion — Image source: @Lukas/Pixabay

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Highlights

In H1FY24, BHP’s revenue stood at USD 27,232 million, up around 6% compared to pcp

The company’s underlying EBITDA rose by around 5% in the period

BHP had a higher EBITDA margin of 61.5% and a higher quick ratio of 1.22x in H1FY24 compared to the industry median of 32.3% and 1.16x, respectively

BHP Group Ltd (LSE: BHP) is an FTSE-listed Australia-based resources company. The company is a producer of various commodities, such as nickel, copper, iron ore, potash, and metallurgical (steelmaking) coal.

In H1FY24, the company’s revenue stood at USD 27,232 million, up around 6% compared to pcp. The revenue growth was driven by higher copper production and an increment in the average realized prices of the various commodities in the period. Likewise, the company’s underlying EBITDA rose by around 5% because of the exceptional items in profit from operations as compared to the loss in H1FY23.

Additionally, the company had a higher EBITDA margin of 61.5% and a higher quick ratio of 1.22x in H1FY24 compared to industry median of 32.3% and 1.16x, respectively..

Recent business update

As per the press release dated 22 May 2024, BHP Group revised its offer to 0.8860 BHP shares for each Anglo-American ordinary share. This final offer values each Anglo-American share at GBP 31.11, based on the closing share prices of BHP as of 22 May 2024, and Anglo Platinum and Kumba as of 21 May 2024.

Company outlook

The company expects copper production to fall within the range of 1,720 to 1,910 kt, with iron ore production estimated to span from 254 Mt to 264.5 Mt for the fiscal year 2024. Nickel production is expected to range between 77 kt and 87 kt, while metallurgical coal could fluctuate between 21.5 Mt and 22.5 Mt for the same period.

Top 10 Shareholders

The top 10 shareholders of BHP together account for approximately 24.96% of the total shareholdings in the company. The Vanguard Group, Inc. holds the maximum number of shares with around 5.49% shareholding. It is followed by State Street Global Advisors Australia Ltd. with around 3.97% shareholding, as presented in the chart below:

Stock performance

The share price of BHP has surged by about 0.95% in the last three months and over the last six months, it has tumbled by around 10.06%. The stock has a 52-week low and 52-week high of GBX 2,157.00 & 2,722.00, respectively. At present, it is trading below the average of its 52-week high andlow.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 11 June 2024. The reference data in this report has been partly sourced from EODHD/Others.

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