Bhp Group Ltd · ASX:BHP
Bhp — BHP Billiton — H1 2004 Earnings Presentation
33 slides from Bhp's earnings presentation, Feb 19, 2004
Slide 1: eel
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Slide 2: Po ddel
Po ddel = =~ =~ — hl pe 2 ee ——————_ Ss oceans | ‘e al 2 DY. LLI | = ag LL] Re =
Slide 3: Slide 3
Slide 4: pe ee ——————_
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Slide 5: Half year ended December 2003 results
wii / A ANNAN s hig : ear ended 31 December iW) el j p coool a LEE — y Z Bs . ae Me Wg ‘ TAK 7 a (Fr _. Ie 007 by y aley. Ce i a. @ i fy, ) [ om | Le wae a iia ie Le fOAG Ui i 7 y A vcd Ms bes od eh Boom oe J by yy Le, Me te i Cini icant iT TTT il vTumover) 10.963 8,048 an (28 3,119 2 536 EBIT ( 2,1
Slide 6: | September
| September 11 World Trade ntre Attac! SA Rand A$ ng BEE Charter ak
Slide 7: EBIT by customer sector group
es — ate eat end ended 3 mber He hae WED. al. Noll Soll Saat BM 4 A Me ie He EE CE EEE EE EEE EE iti iN . a as CMe. Petroleum 602 660 Aluminium 307 266 Base Metals 333 83 Carbon Steel Materials. 505 506 Diamonds & Spec Products 174 173 | a ‘ Energy Coal. : 424 Stainless Steel Matera OH iintetOeey =
Slide 8: Changes in EBIT
LTT iT Bij iui tl i | a a 4a) _— a changesonEBIT jyearended 31Dec02_ Total rice variance + U $$1,005 milion |
Slide 9: EBIT to profit before tax
ove ng tional im ui i i sid INN ny iT TT iii i nn) NN OANNNNNNNANNNNNNINNN Diy, Daa ae a AS IS MUU peli Decer nber. Us Mice 2002 Datla [Diva deceit Adel lic rex reall “EIT 2,183 Net interest expense (211) Exchange impact on debt : (89) Discounting of provisions/Capitalised interest ; 6 ue a \ & Prof
Slide 10: Taxation and net interest expense
oo li ETUTCTCCTOCOOman_CLKNTwa oy Net interest Taxation expense Oe ante:
Slide 11: Operating cash flow and available cash flow
moomoo Operating cash flow and JV dividends _ Net interest paid Tax paid Available cash flow 2,392 (168) (543) 1,681 (1,236) (193) MN 1,889 (170) ~ (540) “4179. (1,268) (130) of fixed ee estments ae sidiaries and JVs ee ee) Le .
Slide 12: Merger benefits
d Lc a A) 7 My Ny MM) i) ON ee a a Cost related merger benefits Non cost related merger benefits Total merger benefits . Cost savings Operating Excellence al cost saving Strategic s sourcin Portfolio. mix: / oo 2 | oo _— i . ana 31 pte 1 160 60 i) SN ON il i )) I) le, 220 a _ . | co i _— Le 10 60 .
Slide 13: Po ddel
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Slide 14: Slide 14
Slide 15: Products and capacity expansion projects
Wi ell) I |) I |) | | i | l | | on Ve Products & Capacity Expansion (Australia) - cn ny Me Mi 299* Q2 2004 wi Q1 2004 Area C (Australia) - 85% Q4 2003 Q3 2003 Mt Arthur North (Australia) - 100% Q4 2003 Q4 2003 Hillside 3 (South Africa) - 100% Q2 2004 Q4 2003 -45% Q4 2003
Slide 16: li a
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Slide 17: Petroleum discoveries and developments
HH nn I IRE ‘Neptune-3 Gulf of coe appraisal well,|_ Phase-1 Development lew oe discovery, Shenzi-1 et a Gulf ofMexico of Me deepwater Gulf approved, Trinidad and of Minerva gas __ development : = Australia : Hydrocarbon Tobago discovery, Vortex-1 well, deepwater Gulf Development of a Mexico oS Zamz
Slide 18: Gulf of Mexico assets
aseholt Februa Le an tntanineriiatan ial amiiciaa Lil n Canyo Caesar / Cleopatr | A Discovery / Pipelines - Development
Slide 19: i Wn) i 2a nnn nnn tne
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Slide 20: Slide 20
Slide 21: Slide 21
Slide 22: a HAE ii Mii Me
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Slide 23: Projects under development
Paranam refiner pe expansion (Suriname) - 45% Alumina Q3 2005 Increase capacity to 2.2 million tpa (100%) On time WA Iron Ore accelerated | expansion (Australia) - 85% Iron ore Q2 2004 Increase system capacity to 400 million tpa (400%) On time WA Iron Ore Rapid Growth Project (Australia) - 85% Iron
Slide 24: Petroleum projects under development
ROD (Algeria) - 36% Mid CY04 28,800 boe/day One quarter behind original schedule Mad Dog (US) ~ 23.9% End CY04 20,700 boe/day On time Atlantis (US) - 44% Q3 2006 79,200 boe/day On time GoM Pipelines Infrastructure (US) - 22/25% Q4 2004 Capacities of Oil — 450,000 bbi/day (100%) Gas - 500 million scf
Slide 25: Projects under development
Worsley expansion (Australia) — Worsley exp ( ) Alumina Late 2006 250,000 tonnes per annum (100%) Escondida sulphide leach (Chile) - (Chile) 57.5% Copper Early 2006 180,000 tonnes per annum copper cathode (100%) Spence (Chile) — 100% Copper Late 2006 200,000 tonnes per annum Escondida Coarse Particl
Slide 26: ACCC A
ACCC A ih iM i) 4
Slide 27: cos
cos _ ae : SSE NG ey Thole oe ; | a 1 - ooo . 2 _ eee i _ | Do
Slide 28: EBIT and net debt movements
J i ‘nin il I il IM oo oe yin ee pail a TTTwTTwT_—s i Kh el a i iE osu Me = | SON te aL Eee eae | SO _ 7 oC) in ae 2 hrm _. LE i a HNN i. - 7 il ewww i) a) TT nl I) MN !) MN) INNINNION iM Il) my cm iM MM I) Ml a Ml) mt) i i) i my) ni I) I Ge Net payables, receivables & (500 100 EBIT employee provisi
Slide 29: Commodity price sensitivities
iii ee te ee _ Lo Tit a whoa ey eo Ly yy | RGiCee ae i ee A i yee ar Me ‘ ‘ DE SU IN a i i - US$1/t on iron ore price ~ US$1/bb! on oil price US$1/t on metallurgical coal price USctilb ¢ on aluminium price ik See se \ — — ae a Ci Oe, a Lo, Lo ae a Se : A .. . Bel a i 7 4 a oo 0 :. ( | i ~~ rt—“‘_OOC
Slide 30: Currency sensitivities
yan mn nN ee 1 eo hii \ - / ; j My ) : y ORS La a. Australian dollar (USc1/A$) Operations (net of hedging)" Net monetary liabilities) South African Rand (0.2 Rand/US$) Operations). : a Le LLL SSL —E » «Ss | a | i - oO. Net i mnetary liabil Hee Ran ee a. a : z are = oe me oe . oo - oe. / yates “Page
Slide 31: Australian GAAP results summary
i) Te i) i il) i i I) 1) i) We il) ly i il ) n eek sy r More oii eee 2002 aac ceea reece Die : : : Nee vy EEL Medel hel eae TG, a MAMAN conn Tl il NN eT TT. _ Sales revenue 9,947 7,056 Profit before tax 1,899 1,325 Profit after tax attributable to members 1,392 891 Netepeningentinyesesaas 1 pier LL
Slide 32: EBIT, EBITDA and margin reconciliation
1) oO OOOUWWh&§58.#38''6'™$8§'®"'’T™™EET7TCt; inno US$ million EBIT Depreciation & Amortisation — Group companies Depreciation & Amortisation - Joint Ventures and Associates EBITDA US$ million Attributable Profit USS million Turnover EBIT EBIT margin (%) Turnover from third party product activities
Slide 33: Slide 33