View all News Latest News Updates  ** BHP Billiton Reports Strong Financial Results ------------------------------------------------------------ February 18, 2014 âBHP Billiton today announced its financial results for the December 2013 half year, with Underlying EBIT increasing by 15 per cent to US$12.4 billion and Underlying attributable profit increasing by 31 per cent to US$7.8 billion. BHP Billiton CEO Andrew Mackenzie said the strong performance was driven by a substantial improvement in productivity and additional volume from the Companyâs low-risk, largely brownfield investment program. âThe commitment we made 18 months ago to deliver more tonnes and more barrels from our existing infrastructure at a lower unit cost is delivering tangible results,â he said. âAnnualised productivity led volume and cost efficiencies totalling US$4.9 billion are now embedded and this is expected to increase to US$5.5 billion by the end of the 2014 financial year. âThis sustainable increase in productivity supported a 9 per cent increase in the Groupâs Underlying EBIT margin to 38 per cent and a strong improvement in the Groupâs Underlying return on capital to 22 per cent.â A 65 per cent increase in net operating cash flow and a 25 per cent reduction in cash outflows from investing activities have driven a US$7.8 billion increase in free cash flow during the period. âThe Groupâs opportunity rich portfolio remains a key point of differentiation.

By maintaining strict financial discipline and increasing internal competition for capital we intend to further differentiate ourselves by creating a more capital efficient organisation. âOn this basis, we believe an average rate of return of greater than 20 per cent is achievable for our portfolio of major development options,â he said. The Groupâs interim dividend of 59 US cents per share was unchanged from last yearâs final dividend, consistent with recent practice. The resultant 3.5 per cent increase in the interim distribution highlights the power of the Companyâs progressive dividend policy. With strong free cash flow projected, net debt of US$27.1 billion is expected to approach US$25 billion by the end of the 2014 financial year. âWith strong free cash flow, selective investment and continued simplification, we are well placed to extend our strong track record of capital management,â Mr Mackenzie said. âI want to acknowledge the hard work of BHP Billiton employees and their contribution to these strong results. Together we are improving the productivity and competitiveness of the Company and the countries in which we operate. âI also want to thank our people for their unwavering commitment to health and safety. âWe are pleased to report improved safety performance in the first half, reducing our Total Recordable Injury Frequency to a record low of 4.4 per million hours worked.â BHP Billitonâs financial results for the December 2013 half year, and further information on the Company, can be found here . View the News Release .  Other News  ** BHP Billiton Results for the Half Year Ended 31 December 2013 ------------------------------------------------------------ February 18, 2014  ** Petrohawk December 2013 Financial Report ------------------------------------------------------------ February 14, 2014  ** Republished Financial and Supplementary Information ------------------------------------------------------------ January 22, 2014 Home People & Careers www.bhpbilliton.com About Us Investors & Media Businesses Contact Us
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