BHP results for the year ended 30 June 2018

BHP released its full year results on August 21, 2018. Andrew McKenzie, Chief Executive Officer, assessed the Company's operating and financial performance.
In fiscal 2018, BHP reported an exceptional loss of USD 650 million (after taxes) due to the failure of the Samarko Dam.

Restarting Samarko operations remains a focus but is subject to separate negotiations with the relevant parties and will only take place if it is secure, economically viable and has community support. Restarting operations requires state and federal government licenses, community hearings, and a corresponding restructuring of Samarko's debt.

Following the sale of BHP's US assets as announced on July 27, 2018, the contribution of these assets was presented in this statement as discontinued operations and related assets held for sale.

Safety and resilience: top priority.

Max Cash Flow: Free Cash Flow of $ 12.5 Billion from Higher Prices and Strong Operations

- Profit of $ 3.7 billion attributable to profit of $ 8.9 billion USA, up 33%, supported by 8% growth in copper volume in the group.
- Baseline EBITDA of $ 23.2 billion USA by 55% margin to continue operations.
- Net operating cash flow of $ 18.5 billion and free cash flow of $ 12.5 billion reflect higher prices and volumes, with annual production data in nine operations in iron ore, coal, copper and oil.
- Productivity increased by $ 374 million in the second half to a negative $ 96 million. USA from ongoing operations throughout the year.

- Productivity growth is expected by $ 1 billion during fiscal 2019, with strong momentum to be carried over to fiscal 2020.