Bhp Group Ltd · ASX:BHP
Bhp — FY2025 Earnings Presentation
35 slides from Bhp's earnings presentation, Aug 19, 2025
Slide 1: Financial results for the year ended 30 June 2025
Financial results for the year ended 30 June 2025 Presentation & speech 19 August 2025
Slide 2: Resilience and growth
BHP INVESTOR Mike Henry Slide 1: Resilience and growth Hello and thank you for joining us to hear about BHP’s results for the 2025 financial year. I’m joined by our Chief Financial Officer, Vandita Pant. 1
Slide 3: Disclaimer
BHP INVESTOR Slide 2: Disclaimer 2
Slide 4: Performance summary
BHP INVESTOR Slide 3: Performance summary This year again demonstrated BHP’s resilience, strength and operational excellence. 3
Slide 5: A winning strategy
BHP INVESTOR Slide 4: A winning strategy Our strategy remains clear and simple. • We choose to be in highly attractive commodities, with resilient demand and steep cost curves… • We own world-class assets that are large, long life, low cost and with options to grow… • We operate them excellently, ge
Slide 6: A strong FY25
BHP INVESTOR Slide 5: A strong FY25 2025 has been another strong year. We delivered on our full year guidance across our suite of businesses and achieved record iron ore and copper production. In copper, we produced more than 2 million tonnes,3 having grown volumes by 28% over the past 3 years.3 Our
Slide 7: Driving improved safety and health
BHP INVESTOR Slide 6: Driving improved safety and health Of course, nothing matters more than the safety of our people. This financial year, we realised year-on-year improvements in key safety metrics. And, most importantly, no-one lost their life on the job. Over the past 5 years our teams have ach
Slide 8: Financial performance
BHP INVESTOR Vandita Pant Slide 7: Financial performance Thanks, Mike. We have again delivered a strong set of results. 7
Slide 9: Strong financial performance
BHP INVESTOR Slide 8: Strong financial performance Our Underlying EBITDA margin remained very healthy, at 53%. This continues our track record of achieving an average margin exceeding 50% over the past 20 years. Our return on capital employed was 21%. As Mike mentioned earlier, we paid a significant
Slide 10: Delivering well in the areas we control
BHP INVESTOR Slide 9: Delivering well in the areas we control We continue to perform well in the areas we can control, with solid volume growth and disciplined cost management. As you can see on the slide, the 10% decline in EBITDA was due wholly to commodity prices. The benefit we received from fav
Slide 11: Strong operating performance across the group
BHP INVESTOR Slide 10: Strong operating performance across the group This strong performance was achieved across the business – an impressive effort given the external headwinds we navigated. Western Australia Iron Ore once again demonstrated its position as the world’s leading iron ore business. Re
Slide 12: A disciplined and targeted approach to capital allocation
BHP INVESTOR Slide 11: A disciplined and targeted approach to capital allocation Our capital allocation framework continues to instil discipline and deliver both strong shareholder returns and value driven growth. We remain fully committed to this framework – which includes maintaining a strong bala
Slide 13: Optimised capital expenditure profile
BHP INVESTOR Slide 12: Optimised capital expenditure profile This year, we have continued to optimise the sequencing of our projects. Mike will take you through these changes shortly. In addition, the pace of development of some decarbonisation technology has slowed, particularly in relation to dies
Slide 14: Putting our strong balance sheet to work
BHP INVESTOR Slide 13: Putting our strong balance sheet to work We are also putting our strong balance sheet to work. Over the last 3 years, since we last changed our net debt target range, our underlying business and portfolio has improved significantly. • More copper production, with increasing co
Slide 15: Strategic and business update
BHP INVESTOR Mike Henry Slide 14: Strategic and business update Thanks, Vandita. Before I outline our plans, I want to spend a couple of minutes on how we see our operating environment in the near term. While economies around the world continue to navigate policy uncertainty, China and India again d
Slide 16: A reshaped portfolio to leverage global megatrends
BHP INVESTOR Slide 15: A reshaped portfolio to leverage global megatrends We remain well positioned to succeed – both now, and into the future. But it’s also worth also taking a moment to celebrate our past. Last week we marked 140 years of BHP’s journey. It’s a remarkable story of transformation an
Slide 17: Our assets have distinct competitive advantages
BHP INVESTOR Slide 16: Our assets have distinct competitive advantages In these commodities, we are discerning about the assets we own. They are large and in world-class resource basins, providing decades of optionality and future growth. They are in top tier mining regions, with lower inherent risk
Slide 18: A more resilient portfolio with a proven track record
BHP INVESTOR Slide 17: A more resilient portfolio with a proven track record This unique portfolio of world-class assets in attractive commodities, and our operational excellence, underpin our strong track record. The way we engage our people, enabled by our BHP Operating System, unlocks continuous
Slide 19: Proactively sequencing growth projects to improve returns
BHP INVESTOR Slide 18: Proactively sequencing growth projects to improve returns We know our success also depends on the way we allocate capital. And as Vandita mentioned, we’ve continued to refine the sequence of our projects – while maintaining our growth outlook and optimising capital deployment.
Slide 20: Jansen: Project update
BHP INVESTOR Slide 19: Jansen: Project update First, let me talk about Jansen. Last month, for Stage 1, we announced updated cost and schedule estimates, including for first production to revert to the original schedule. I am disappointed. Clearly, this is not where we want to be. We encountered hig
Slide 21: WAIO: Investing in long-term resilience
BHP INVESTOR Slide 20: WAIO: Investing in long-term resilience Now, to iron ore. For some years now, we’ve said that we expect Chinese steel production to plateau and eventually decline over the mid-to-late 2030s. The market is becoming more competitive, and the businesses that thrive will be the on
Slide 22: Escondida: Growth program optimisation continues
BHP INVESTOR Slide 21: Escondida: Growth program optimisation continues At Escondida, we have continued the planned optimisation our growth program. • We’ve brought forward some low capital intensity initiatives at the Laguna Seca concentrators, with other parts of the planned expansion optimised an
Slide 23: Copper SA: Aspiration to double copper production
BHP INVESTOR Slide 22: Copper SA: Aspiration to double copper production Copper South Australia also provides an incredible opportunity, and ongoing stable operational performance provides a solid platform for growth. Copper SA has produced more than 300 thousand tonnes of copper in each of the last
Slide 24: Vicuña: Advancing development in stages
BHP INVESTOR Slide 23: Vicuña: Advancing development in stages Lastly, on the border of Argentina and Chile, we’re making good progress at Vicuña. This is a really exciting opportunity, in alliance with Lundin Mining, with the potential to be a global top-10 copper producer. This year, Vicuña, which
Slide 25: Set to deliver strong growth
BHP INVESTOR Slide 24: Set to deliver strong growth Pulling this all together… our growth pipeline, heavily focused on copper and potash, supports strong production growth over the next decade. Assuming these projects proceed, it could deliver average production growth of 2.2%1 per year over the nex
Slide 26: Why BHP?
BHP INVESTOR Slide 25: Why BHP? So, why BHP? We believe we offer an attractive investment proposition. • We provide exposure to the intersection of some of the most significant global trends – population growth, urbanisation, digitalisation and the energy transition. • We’re producing the right comm
Slide 27: Footnotes
BHP INVESTOR Slide 27: Footnotes Slide 28: Footnotes (continued) 26
Slide 28: On track to achieve our 2030 decarbonisation target & goals
BHP INVESTOR Appendix Slide 30: On track to achieve our 2030 decarbonisation target & goals 27
Slide 29: Our operating model enables rapid unlock of AI benefits; Sequencing capital spend
BHP INVESTOR Slide 31: Our operating model enables rapid unlock of AI benefits Slide 32: Sequencing capital spend 28
Slide 30: Return on Capital Employed; Exceptional items
BHP INVESTOR Slide 33: Return on Capital Employed Slide 34: Exceptional items 29
Slide 31: Samarco delivering on Brazilian Agreement; Social value
BHP INVESTOR Slide 35: Samarco delivering on Brazilian Agreement Slide 36: Social value 30
Slide 32: Safety and social value indicators; Balance sheet
BHP INVESTOR Slide 37: Safety and social value indicators Slide 38: Balance sheet 31
Slide 33: BHP guidance
BHP INVESTOR Slide 39: BHP guidance Slide 40: BHP guidance (continued) 32
Slide 34: Key Underlying EBITDA sensitivities; Competent Person Statement: Escondida
BHP INVESTOR Slide 41: Key Underlying EBITDA sensitivities Slide 42: Competent Person Statement: Escondida Mineral Resources 33
Slide 35: Competent Person Statement: WAIO Mineral Resources
BHP INVESTOR Slide 43: Competent Person Statement: WAIO Mineral Resources Slide 44 34