Bhp Group Ltd · ASX:BHP
Bhp — BHP Billiton — H1 FY2013 Earnings Presentation
38 slides from Bhp's earnings presentation, Feb 20, 2013
Slide 1: Form 6-K Report of Foreign Private Issuer
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 February 20, 2013 BHP BILLITON LIMITED BHP BILLITON PLC (ABN 49 004 028 077) (REG. NO. 3196209) (Exact name of
Slide 2: Interim Half year results, 31 December 2012
PortFebruary Interim Half Marius Graham 20 resourcing bhpbilliton Hedland year Kloppers results Kerr ended the 2013 Chief future 31 Chief December Financial Executive Officer 2012Officer
Slide 3: Disclaimer
resourcing bhpbilliton Disclaimer Forward-looking This performance use circumstances unknown more and other view Non-IFRS BHP includes margin management. Certain UK No Nothing Reliance The completeness Interim offer of prospects” GAAP views presentation Billiton expressly detail circumstances the an
Slide 4: Interim Half year results (Marius Kloppers)
Interim Escondida Half Marius 20 resourcing bhpbilliton February year Kloppers results ended the 2013 future 31 Chief December Executive 2012Officer
Slide 5: Key themes
Key resourcing •bhpbilliton Interim We Strong Controllable Major Ongoing themes areresults, remain projects and delivering divestment the confident predictable cash future 20 areFebruary costs on onprogram our in schedule operating reduced the commitments 2013 outlook continues and by Slide performa
Slide 6: Solid operating results despite weaker prices
Solid resourcing •bhpbilliton Note: Interim Attributable Total Underlying Net Interim operating results Variance Recordable results, dividend thedespite EBITDA EBIT profit future relates 20 cashof February Injury of (excluding of weaker flows 57 US$9.8 to US$4.2 ofUS the US$13.2 Frequency ofcents 20
Slide 7: Strong volumes, production records across businesses
resourcing •bhpbilliton Strong (sales Alumina Copper Metallurgical Petroleum Iron Energy Nickel Manganese Aluminium (20) 1. 2. Interim We Production Unchanged Copper Decisive Copper Manganese ore (10) continue volumes, and growth coal results, equivalent 0equivalent action the 10 consistent ore allo
Slide 8: Interim Half year results (Graham Kerr)
Interim Newman Half Graham 20 resourcing bhpbilliton February year results Kerr ended the 2013 Chief future 31 December Financial Officer 2012
Slide 9: Key themes
Key resourcing •bhpbilliton Interim We Strong Controllable Major Ongoing themes areresults, remain projects and delivering divestment the confident predictable cash future 20 areFebruary costs on onprogram our in schedule operating reduced the commitments 2013 outlook continues and by Slide performa
Slide 10: Underlying EBIT analysis
Underlying resourcing bhpbilliton EBIT 15.9 0.0 6.0 12.0 18.0 Controllable Volume Sub-total Inflation Exchange Price Fuel Non-cash New H1 Other 1. Interim Controllable FY12 FY13 (5.7) & &linked variance energy acquired/ceased results, &(0.4) the EBIT costs one-off cash future (H1 cash 20 (0.3) analy
Slide 11: Delivering volume growth in high margin businesses
Delivering resourcing bhpbilliton Volume 04(H1 300 600 900 Iron Base Metallurgical Energy Aluminium Manganese Sub-total D&SP1 1. Total Petroleum1 Note: Interim 56Excludes 141 FY13 Ore Metals Volume Coal results, variance 101 Minerals versus the strong & new 62Coal variance Nickel future 20 44 and H1
Slide 12: Controllable cash costs reduced
resourcing bhpbilliton Cash (US$ US$1.9 03Uncontrollable 300 600 900 1,200 1,500 Volume Overheads Operating Sub-total Exploration Controllable Price Fuel Total 1. 2. Interim 97Volume Controllable 87 & cost cash linked million) (97) energy results, billion related1 (P&L) savings cost related the 387
Slide 13: Foreign exchange impact on profitability
A200) resourcing bhpbilliton Foreign 0((US$ (169) (600) (400) Iron Metallurgical Base Energy Aluminium Petroleum Group D&SP Manganese Note: Total Interim weaker Ore Metals million) (95) Difference &Coal results, exchange unallocated US (79) the &dollar Coal Nickel future (65) 20ingain/(loss) Februar
Slide 14: Our major projects remain on schedule and budget
Our resourcing bhpbilliton Worsley Macedon Broad- Caval EKATI HPX3 NWS Bass FY12 Antamina MAC Kipper1 Cerrejon Daunia Turrum NTP Samarco WAIO Escondida Appin Iron Base Petroleum Metallurgical Energy Aluminium D&SP £Manganese production First > 1. 2. Interim US$500m The Facilities projects Ore Exp St
Slide 15: Ongoing divestment program
Ongoing resourcing bhpbilliton Good –Asset Divestments Our Significant (US$ 0.0 2.5 5.0 Continued H1 H22 (US 0H 30 60 FY08 1. 2. Interim 1announced sold Includes Projected H2 capital cents billion) progress sales FY09 the results, divestment Yeelirrie per growth the proceeds increase totalling struc
Slide 16: Royalties, taxes and effective tax rate
Royalties, resourcing bhpbilliton US$6.1 Underlying We MRRT Exceptional Newman Interim haveand results, billion voluntarily Primary taxes the carbon effective items future paid 20 and School totalling February tax in exceptional donated tax the in rate, effect form US$1.4 2013 1% including from of i
Slide 17: Interim Half year results (Marius Kloppers)
Interim BMA Half Marius 20 resourcing bhpbilliton February year Kloppers results ended the 2013 future 31 Chief December Executive 2012Officer
Slide 18: Key themes
Keyremain resourcing bhpbilliton Strong Controllable Major Ongoing We Interim are themes projects and delivering results, divestment the confident predictable cash future are 20costs on February onprogram our in schedule operating reduced the commitments outlook 2013 continues and by performance Sli
Slide 19: Global growth and commodity demand
Global resourcing bhpbilliton The Rebalancing Demand 54321(Contribution CY10 China Asia Chinese (% 0C 10 20 30 40 Finished Note: Source: Interim 1)Y02 YoY) global (ex-China) Real will United CY11 CY04 growth results, Global commodity growth steel remain the economy growth CY12 of CY06 toStates Coppe
Slide 20: Copper outlook
Copper resourcing bhpbilliton Robust Longer There On Prices Large (primary 0D 10 20 30 Demand Supply CY13e Existing Source: Interim emand average, supply is will CY17e gap supply term results, long Wood asupply 2025 2020 copper, scarcity the need 1outlook term deficit million Mackenzie, future growt
Slide 21: Iron ore outlook
resourcing bhpbilliton Over Prices With Substantially This Schematic (US$/t, Current Future Cumulative 2012 Iron Steel (days 50 100 150 200 Price Jun 0S 15 30 45 60 Interim eaborne ource: 12 ore will the mill stocking (LHS) of responded Aug cost CIF results, cost BHP prices price spot inventory) add
Slide 22: Metallurgical coal outlook
Metallurgical resourcing bhpbilliton Supply As The Any In Seaborne (million H 100 200 300 400 US CY08 0S 20 40 60 80 1. Interim ource: ard 2012 the aexports sharp market sustained result, coking absence CY09 behaviour results, quarterly Platts; tonnes) exports price the (RHS) the iscoal CY10 coal cu
Slide 23: Aluminium outlook
resourcing bhpbilliton Long Aluminium Captive The Chinese C 10 CY03 Demand Cash 01(US$/t, CY18e CY12 China Cumulative 60 50 40 30 20 (million Source: Interim 0apacity cost cost term CY04 nominal) results, Wood low aluminium primary tonnes) curve curve fundamentals the to is volume cost CY05 expected
Slide 24: Strong momentum underpinned by production growth
Strong resourcing bhpbilliton Other Copper Metallurgical Petroleum Iron (Iron WAIO Queensland Onshore Gulf (Oil FY12 <5% Note: (Copper) Escondida Interim & ore of >5% ore) Bubble 10% togas) momentum Mexico results, 12% 26% FY14 US27% the Coal size coal future production forecast 20(Metallurgical rep
Slide 25: Allocating capital to highest margin businesses
Allocating resourcing bhpbilliton Capital <40% EBITDA FY13e North WAIO Queensland Macedon Bass (Oil NSWEC Illawarra Onshore (Energy Cerrejón (Iron Samarco 1. (Copper) Escondida Note: Interim Major &Strait ore) Bubble West gas) FY14e is expenditure results, coal) US project Coal margin being the capi
Slide 26: Strong growth in major basins
Strong resourcing bhpbilliton WAIO Escondida Western Queensland 100 200 Eagle (index, 0C 300 600 FY12 1. 2. Source: Interim AGR 100% FY15 Ford FY13e run growth 14% 8% 15% 66% FY12 results, BHP Australia estimated basis. copper rate the production Coal Coal2 Billiton FY15e production future at of 20a
Slide 27: Positioned to sustain superior shareholder returns
Positioned resourcing bhpbilliton Consistent We 0(Total 25 50 (%) BHP (50) 1. 2. Source: Interim 25) Includes Peer have remain Billiton shareholder group results, Datastream; returned the to execution confident buy-backs Peer sustain based future 20returns2 return US$56.9 1February on Peer BHP super
Slide 28: Key themes
Keyremain resourcing bhpbilliton Strong Controllable Major Ongoing We Interim are themes projects and delivering results, divestment the confident predictable cash future are 20costs on February onprogram our in schedule operating reduced the commitments outlook 2013 continues and by performance Sli
Slide 29: Resourcing the future
resourcing the future bhpbilliton
Slide 30: Appendix
resourcing the future bhpbilliton Appendix
Slide 31: Impact of commodity price movements
Impact resourcing bhpbilliton Total 0((H1 316 1,000 Base (4,000) (3,000) (2,000) (1,000) (3,169) (1,602) Aluminium Petroleum Manganese D&SP Energy Metallurgical Iron 1. Interim 28) Includes FY13 (58) Ore Metals price of Coal results, (62) commodity versus the variance1 impact &Coal (385) Nickel futu
Slide 32: Summary of tax expense/(income)
Summary resourcing bhpbilliton Restatement H1 Current (123) 17 82 43 Deferred 151 12 Other (2) 56 Interim 70 119 Total (38) (9) FY13 FY12 items results, tax tax expense/(income) of the payable of key balances future 20exchange February on timing fixed US$ rate US$ 2013 debt assets components differe
Slide 33: Capital and exploration expenditure
Capital resourcing bhpbilliton Minerals FY03 Sustaining Onshore US$ Growth Exploration Total Note: Interim billion 3.0 0.2 Capital FY04 and results, 2.0 0.2 US 3.1 3.7 and the and 1.7 3.3 exploration FY03 0.3 0.4 FY05 capital 4.4 4.0 conventional and future other 20 2.6 0.5 6.9 exploration FY04 Febr
Slide 34: Debt maturity profile
Maturity resourcing bhpbilliton Debt 6420F US$ Euro Sterling A$ % Capital 3% 8% 22% 56% CP Jointly Bank 1% 6% 4% 0% Subsidiaries4 Asset 1. 2. 3. 4. Interim Y13 All Based Jointly Subsidiary ofIssuance Bonds Bonds portfolio Bonds balances1 Debt Supported Financing debt FY14 Controlled Markets results,
Slide 35: Key sensitivities
Key resourcing bhpbilliton Approximate US$ US$1/bbl US¢10/MMbtu US$1/t US¢1/lb AUD RAND 1. 2. Interim Assumes Impact net million (US¢1/A$) (0.2 on results, profit on based on iron metallurgical energy the total aluminium copper nickel Rand/US$) oil impact1 sensitivities future ore 20 on on price vol
Slide 36: Strength of diversity: EBIT margin
Strength resourcing bhpbilliton EBIT 0F 25 50 75 (%) Aluminium Petroleum Base Iron D&SP Metallurgical Manganese Energy 1. Total The 2. Interim Y03 Calculated Negative Exploration Ore Metals margin1 FY04 Coal results, in the diversity margins &FY05 on Coal Nickel future 20 and theFebruary FY06 basis
Slide 37: Resourcing the future
resourcing the future bhpbilliton
Slide 38: Signatures
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. BHP Billiton Limited and BHP Billiton Plc Date: February 20, 2013 By: /s/ Jane McAloon Name: Jane McAlo