Bhp Group Ltd · ASX:BHP
Bhp — BHP Billiton — Q1 FY2003 Earnings Presentation
14 slides from Bhp's earnings presentation, Oct 31, 2002
Slide 1: First Quarter Results
FIRST QUARTER RESULTS 31 October 2002 Chris Lynch Chief Financial Officer
Slide 2: Highlights – quarter ended 30 September 2002
Highlights – quarter ended 30 September 2002 • Continued strong performance from diversified asset base despite weak markets • EBITDA maintained at robust US$1.2 billion • EBIT of US$844 million, attributable profit of US$572 million and earnings per share of US9.2 cents before exceptional items • D
Slide 3: Results highlights – quarter ended 30 September
Results highlights – quarter ended 30 September (US$M) 2002 2001 % Change Turnover(1) 3,922 3,811 2.9 EBITDA(1)(2) 1,230 1,248 -1.4 EBIT(1)(2) 844 867 -2.7 Attrib profit (excl exceptionals) 572 566 1.1 Exceptional items (19) - Attrib profit (incl exceptionals) 553 566 -2.3 EPS (US cents)(2) 9.2 9.4
Slide 4: EBIT by Customer Sector Group
EBIT by Customer Sector Group – quarter ended 30 Sept Excluding exceptional items (US$M) 2002 2001 % Change Petroleum 384 325 18 Aluminium 135 114 18 Base Metals 16 53 -70 Carbon Steel Materials 267 292 -9 Diamonds & Spec Products 81 82 -1 Energy Coal 68 149 -54 Stainless Steel Materials 23 (11) Exp
Slide 5: EBIT analysis – Continuing operations
EBIT analysis – Continuing operations Quarter ended 30 Sept 02 v quarter ended 30 Sept 01 US$M 1,000 867 844 800 (40) 600 400 200 0 Quarter Prices Inflation Price Exch Expln Costs Volume New Other Sold Quarter ended impact on linked rates Ops Ops ended September costs costs September 2001 2002 First
Slide 6: Impact of major commodity price changes on EBIT
Impact of major commodity price changes on EBIT Quarter ended 30 Sept 02 v quarter ended 30 Sept 01 US$M 100 Petroleum products 65 Nickel & 50 Chrome 20 0 Others Silver (2) (6) Aluminium Diamonds -50 (28) (32) Energy Coal -100 (57) Excludes impact of price linked costs, which had an unfavourable imp
Slide 7: EBIT analysis – Continuing operations
EBIT analysis – Continuing operations Quarter ended 30 Sept 02 v quarter ended 30 Sept 01 US$M 1,000 867 55 20 15 844 800 (40) (50) (15) 600 400 200 0 Quarter Prices Inflation Price Exch Expln Costs Volume New Other Sold Quarter ended impact on linked rates Ops Ops ended September costs costs Septem
Slide 8: EBIT analysis – Continuing operations
EBIT analysis – Continuing operations Quarter ended 30 Sept 02 v quarter ended 30 Sept 01 US$M 1,000 867 60 10 55 20 15 844 800 (38) (40) (40) (50) (15) 600 400 200 0 Quarter Prices Inflation Price Exch Expln Costs Volume New Other Sold Quarter ended impact on linked rates Ops Ops ended September co
Slide 9: Net interest, taxation & attributable profit
Net interest, taxation & attributable profit Continuing operations, excluding exceptionals Quarter ended 30 September (US$M) 2002 2001 EBIT 844 867 Net interest expense (101) (138) Exchange impact on debt 31 82 Discounting of provisions/Capitalised interest 3 (7) Profit before tax 777 804 Tax expens
Slide 10: Highlights – quarter ended 30 September 2002
Highlights – quarter ended 30 September 2002 • Continued strong performance from diversified asset base despite weak markets • EBITDA maintained at robust US$1.2 billion • EBIT of US$844 million, attributable profit of US$572 million and earnings per share of US9.2 cents before exceptional items • D
Slide 11: First Quarter Results Slide 11 31 October 2002
First Quarter Results Slide 11 31 October 2002
Slide 12: Impact on Sept quarter results of restatements of net monetary liabilities
Impact on Sept 02 quarter results of restatements of net monetary liabilities (US$M) Sept 02 qtr Actual impact EBIT 844 40 Net interest (67) 15 Taxation expense (193) 40 Attributable profit 572 95 Exchange rates As at As at Versus US dollar 30 Sept 2002 30 June 2002 South African rand 10.50 10.25 Au
Slide 13: Key net profit sensitivities
Key net profit sensitivities Approximate impact on forecast FY03 net profit after tax of changes of: (US$M) US$1/bbl on oil price 45 US$1/t on iron ore price 25 US$1/t on metallurgical coal price 20 USc1/lb on aluminium price 15 USc1/lb on copper price 15 US$1/t on energy coal price 10 USc1/lb on ni
Slide 14: Key net profit sensitivities
Key net profit sensitivities Approximate impact on forecast FY03 net profit after tax of changes of: (US$M) Australian dollar (USc1/A$) Operations (net of hedging)(1) 20 Net monetary liabilities(2) 20 South African Rand (0.2 Rand/US$) Operations(1) 10 Net monetary liabilities(2) 10 Rand debt(2) 5 (1