BHP Group: A miner for all seasons

About the author:

Author name:

By Adrian Prendergast

Job title:

Senior Analyst

Date posted:

23 August 2023, 10:00 AM

Sectors Covered:

Mining, Energy

• A solid FY23 result from the big miner, with BHP Group (ASX:BHP) defending again broad global cost pressures, and further building its competitive advantage.
• FY23 attributable underlying NPAT of US$13.4bn, in-line with market estimates.
• Final dividend declared of US80 cents (vs consensus/MorgE 82/83 cents).
• Despite lower iron ore and copper prices, and significant inflationary pressures, BHP maintained group EBITDA at 54% with a ROCE of 28.8%.
• We maintain an Add rating on BHP with a (login to view) target price.

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