3rd Qrtr Rslts etc,- Pt.3
Broken Hill Proprietary Co Ld
4 May 2000
Part 3
- 16 -
Supplementary Information - Segment Results (Quarter)
Quarterly comparison - March 2000 with November 1999(1)
Quarter ended 31 March 2000
Operating Revenue (2)
$Million
Other
Sales revenue Total
1 957 220 2 177 Minerals
1 815 39 1 854 Steel
1 385 16 1 401 Petroleum
385 14 399 Services
- 9 9 Net unallocated interest
(67) 4 (63)Group and unallocated items(6)
5 123 302 5 425 BHP Group
Operating Profit
$Million
EBITDA(3) Dep'n & Borrowing
amort'n costs EBIT(4)
Minerals 639 (200) - 439
Steel 306 (132) - 174
Petroleum 766 (239) - 527
Services 6 (9) - (3)
Net unallocated interest 9 - (156) (147)
Group and unallocated items(7) (123) (2) - (125)
BHP Group 1 603 (582) (156) 865
Income Abnormal Operating
tax items profit
excluding after including
abnormal income abnormals
items tax(5) after tax
Minerals (141) (794) (496)
Steel (47) - 127
Petroleum (192) - 335
Services 1 - (2)
Net unallocated interest 35 - (112)
Group and unallocated items(7) 34 190 99
BHP Group (310) (604) (49)
Quarter ended 30 November 1999
Operating Revenue(2)
$Million
Other
Sales revenue Total
2 037 55 2 092 Minerals
1 872 9 1 881 Steel
888 29 917 Petroleum
437 35 472 Services
- 4 4 Net unallocated interest
(55) 38 (17)Group and unallocated items(6)
4 802 170 4 972 BHP Group
Operating Profit
$Million
EBITDA(3) Dep'n & Borrowing
amot'n costs(8) EBIT(4)
Minerals 563 (206) - 357
Steel 267 (105) - 162
Petroleum 518 (155) - 363
Services 32 (9) - 23
Net unallocated interest 4 - (187) (183)
Group and unallocated items(7) (60) (3) - (63)
BHP Group 1 324 (478) (187) 659
Income Abnormal Operating
tax items profit
excluding after including
abnormal income abnormals
items tax(9) after tax
Minerals (99) 49 307
Steel (56) 63 169
Petroleum (123) 49 289
Services 6 5 22
Net unallocated interest 45 (4) (142)
Group and unallocated items(7) 26 (2) (39)
BHP Group (213) 160 606
(1) Before outside equity interests.
(2) Operating revenues do not add to the BHP Group figure due to intersegment
transactions.
(3) EBITDA is earnings before borrowing costs, income tax, and depreciation and
amortisation.
(4) Result for all Busineses except Net unallocated interst is EBIT (earnings
before borrowing costs and income tax).
(5) Tax benefit on March 2000 abnormal items: Minerals $344 million and Group
and unallocated items $190 million.
(6) Includes consolidaton adjustments and unallocated items.
(7) Tax benefit on November 1999 abnormal items: Minerals $49 million, Steel $63
million, Petroleum $49 million, Services $5 million, Net unallocated interest
$(4) million, Group and unallocated items $(2) million.
- 17 -
Supplementary Information - Segment Results (Year to date)
Year to date comparison - March 2000 with March 1999(1)
Ten months ended 31 March 2000
Operating Revenue (2)
$Million
Other
Sales revenue Total
6 568 466 7 034 Minerals
5 992 76 6 068 Steel
3 563 469 4 032 Petroleum
1 369 181 1 550 Services
- 43 43 Net unallocated interest
(193) 46 (147)Group and unallocated items(6)
16042 1 281 17 323 BHP Group
Operating Profit
$Million
EBITDA(3) Dep'n & Borrowing
amort'n costs EBIT(4)
Minerals 1 950 (681) - 1 269
Steel 838 (377) - 461
Petroleum 1 895 (623) - 1 272
Services 111 (29) - (82)
Net unallocated interest 43 - (566) (523)
Group and unallocated items(7) (328) (11) - (339)
BHP Group 4 509 (1 721) (566) 2 222
Income Abnormal Operating
tax items profit
excluding after including
abnormal income abnormals
items tax(5) after tax
Minerals (405) (745) (119)
Steel (149) 63 375
Petroleum (455) 129 946
Services (11) 5 76
Net unallocated interest 127 (4) (400)
Group and unallocated items(7) 108 300 69
BHP Group (785) (252) 1 185
Ten months ended 31 March 1999
Operating Revenue(2)
$Million
Other
Sales revenue Total
7 721 961 8 682 Minerals
6 450 110 6 560 Steel
2 362 101 2 463 Petroleum
1 737 690 2 427 Services
- 107 (107) Net unallocated interest
(527) 5 (522) Group and unallocated items(6)
16037 1 974 18 011 BHP Group
Operating Profit
$Million
EBITDA(3) Dep'n & Borrowing
amort'n costs EBIT(4)
Minerals 2 096 (756) - 1 340
Steel 795 (392) - 403
Petroleum 1 096 (598) - 498
Services 182 (59) - 123
Net unallocated interest 107 - (596) (489)
Group and unallocated items(7) (750) (15) - (765)
BHP Group 3 526 (1 820) (596) 1 110
Income Abnormal Operating
tax items profit
excluding after including
abnormal income abnormals
items tax(9) after tax
Minerals (613) 193 920
Steel (137) - 266
Petroleum (196) - 302
Services (23) 173 273
Net unallocated interest 97 - (392)
Group and unallocated items(7) 267 6 (492)
BHP Group (605) 372 877
(1) Before outside equity interests.
(2) Operating revenues do not add to the BHP Group figure due to intersegment
transactions.
(3) EBITDA is earnings before borrowing costs, income tax, and depreciation and
amortisation.
(4) Result for all Busineses except Net unallocated interest is EBIT (earnings
before borrowing costs and income tax).
(5) Tax benefit on March 2000 abnormal items: Minerals $393 million, Steel $63
million, Petroleum $49 million, Services $5 million, Net unallocated interest
$(4) million, and Group and unallocated items $300 million.
(6) Includes consolidaton adjustments and unallocated items.
(7) Tax benefit/(expense) on March 1999 abnormal items: Minerals $44 million,
Services $1 million and Group $(3) million.
- 18 -
Supplementary Information - Business Results
Quarter ended
31 March 2000 Sales (1) EBITDA (2) Depreciation
revenue (before & amortisation
abnormal
items)
Minerals
Steelmaking and
Energy Materials
Iron Ore 315 177 33
Coal 714 222 60
Hot Briquetted
Iron 17 (62) 2
Manganese(7) - 4 -
Intra divisional
adjustment (10) (2)
1036 339 95
Non Ferrous &
Industrial Materials
South American Copper 445 193 60
Pacific Copper 195 35 26
EKATI TM diamonds 101 72 5
Cannington silver lead
Zinc 105 36 12
Other Businesses (8) 75 13 -
Intra divisional
adjustment (1) (1)
920 348 103
Minerals Development 2 (32) -
Divisional Activities (1) (16) 2
1957 639 200
Steel
Flat Products 539 89 37
Coated Products 881 114 30
Discontinuing Operations(9)832 104 65
Intra-divisional
adjustment (466) 12
Divisional activities 29 (13) -
1815 306 132
Petroleum (10)
Bass Strait 495 281 55
North West Shelf 318 233 29
Liverpool Bay 140 116 49
Other Businesses 433 234 106
Marketing activities 415 4 -
Intra divisional
adjustment (334) -
Divisional activities (82) (102) -
1385 766 239
Services 385 6 9
Net Unallocated
Interest - 9 -
Group and unallocated
items (67) (123) 2
BHP Group 5123 1603 582
Quarter ended
31 March 2000 Capital & (3) Exploration
investment (before tax)
expenditure Gross(4)(5) Charged
to profit(6)
Minerals
Steelmaking and
Energy Materials
Iron Ore 4
Coal 13
Hot Briquetted
Iron 58
Manganese(7) -
Intra divisional
adjustment
75
Non Ferrous &
Industrial Materials
South American Copper 22
Pacific Copper 8
EKATI TM diamonds 10
Cannington silver lead
Zinc 3
Other Businesses (8) -
Intra divisional
adjustment
43
Minerals Development 1
Divisional Activities (3)
116 26 24
Steel
Flat Products 12
Coated Products 4
Discontinuing Operations(9) 8
Intra-divisional
adjustment
Divisional activities -
24
Petroleum (10)
Bass Strait 26
North West Shelf 9
Liverpool Bay 7
Other Businesses 35
Marketing activities -
Intra divisional
adjustment
Divisional activities - 31 39
31 39
Services 6 - -
Net Unallocated
Interest - - -
Group and unallocated
items 2 - -
BHP Group 225 57 63
(1) Sales revenues do not add to the BHP Group figure due to intersegment
transactions.
(2) EBITDA is earnings before borrowing costs, income tax, and depreciation and
amortisation.
(3) Excludes capitalised interest and capitalised exploration.
(4) Includes capitalised exploration: Minerals $2 million and Petroleum $7
million.
(5) Gross exploration for Petroleum of $31 million comprises current period
expenditure of $44 million adjusted by $13 million associated with the Typhoon
development which has been reclassified from exploration expenditure to capital
expenditure.
(6) Includes $2 million Petroleum exploration expenditure previously
capitalised, now written off.
(7) Principal manganese assets were sold in December 1998.
(8) Includes North America Copper mining and smelting operations which ceased
during the August 1999 quarter, Been up mineral sands operation which closed in
April 1999 and Hartley platinum mine where operations have been suspended
pending conditional sale.
(9) Includes the Long Products business, Newcastle primary steelmaking
operations, US steel assets, and strip casting assets.
(10) Petroleum sales revenue includes: Crude oil $996 million, Natural gas $122
million, LNG $118 million, LPG $95 million and Other $54 million.
-19-
Supplementary Information - Business Results
Quarter ended $ Million
28 February 1999(1) Sales (2) EBITDA (3) Depreciation
revenue (before & amortisation
abnormal
items)
Minerals
Steelmaking and
Energy Materials
Iron Ore 413 207 33
Coal 785 222 64
Hot Briquetted
iron - (7) -
Manganese(7) 41 4 1
Intra-divisional
adjustment - -
1 239 426 98
Non Ferrous &
industrial Materials
South American Copper 342 106 48
Pacific Copper 173 22 27
EKATI(TM) diamonds 22 23 9
Cannington silver-lead-
zinc 109 30 7
Other Businesses(9) 295 (45) 32
Intra-Divisional
adjustment (3) 4
938 140 123
Minerals Development 10 (76) 4
Divisional Activities (2) (17) 1
2 185 473 226
Steel
Flat Products 506 37 34
Coated Products 769 81 36
Discontinuing
Operations (10) 847 55 49
Intra-divisional
Adjustment (414) 12 -
Divisional activities 12 (10) -
1 720 175 119
Petroleum(11)
Bass Strait 190 74 38
North West Shelf(12) 137 96 21
Liverpool Bay 96 77 52
Other Businesses (12) 178 60 89
Marketing Activities 111 23 1
Intra-divisional
adjustments (66) -
Divisional activities 16 3 -
662 333 201
Services 497 36 17
Net Unallocated Interest - 27 -
Group unallocated items (115) (127) 3
BHP Group 4 479 917 566
Capital & (4) Exploration
Investment (before tax)
Expenditure Gross (5) Charged to
Profit (6)
Minerals
Steelmaking and
Energy Materials
Iron Ore 13
Coal 41
Hot Briquetted
iron 83
Manganese(7) 2
Intra-divisional
adjustment
139
Non Ferrous &
industrial Materials
South American Copper 63
Pacific Copper 4
EKATI(TM) diamonds 8
Cannington silver-lead-
zinc 6
Other Businesses(9) 22
Intra-Divisional
adjustment
103
Minerals Development 1
Divisional Activities 3
246 66 79
Steel
Flat Products 21
Coated Products 8
Discontinuing
Operations (10) 55
Intra-divisional
Adjustment
Divisional activities - -
84 - -
Petroleum(11)
Bass Strait 78
North West Shelf(12) 24
Liverpool Bay 15
Other Businesses (12) 69
Marketing Activities -
Intra-divisional
adjustment
Divisional activities 2 81 62
188 81 62
Services 7 - -
Net Unallocated Interest - - -
Group unallocated items 6 - -
BHP Group 531 147 141
(1) These figures have been restated to reflect:
- the transfer of internal currency hedging results from Minerals,
Steel and Petroleum to Group and unallocated items. The results
of internal currency hedging activities eliminate within Group and
unallocated items;
- the outcome of the Steel Portfolio Review; and
- minor adjustments to sales revenue and EBITDA within Petroleum following
the transfer of other sales from Marketing activities to the relevant asset
category.
(2) Sales revenues do not add to the BHP Group figure due to intersegment
transactions.
(3) EBITDA is earnings before borrowing costs, income tax and depreciation
and amortisation.
(4) Excludes capitalised interest and capitalised exploration.
(5) Includes capitalised exploration: Minerals $4 million and Petroleum $19
million.
(6) Includes $17 million Minerals exploration expenditure previously
capitalised, now written off.
(7) Principal manganese assets were sold in December 1998.
(8) Production at EKATI(TM) diamond mine commenced in October 1998.
(9) Includes North America Copper mining and smelting operations which ceased
during the August 1999 quarter, Beenup mineral sands operation, which
closed in April 1999, and Hartley Platinum mine where operations have been
suspended pending conditional sale.
(10) Includes the Long Products business, Newcastle primary steelmaking
operations, US steel assets, Lifting Products, Tubemakers Water, and strip
casting assets.
(11) Petroleum sales revenue includes: Crude oil $310 million, Natural gas $126
million, LNG $82 million, LPG $31 million and Other $113 million.
(12) Laminaria assets are reported in Other Businesses and are no longer part
of North West Shelf.
-20-
Supplementary Information - Business Results
Four months ended
31 March 2000 Sales (1) EBITDA (2) Depreciation
revenue (before & amortisation
abnormal
items)
Minerals
Steelmaking and
Energy Materials
Iron Ore 408 211 44
Coal 945 286 81
Hot Briquetted
iron 26 (86) 3
Manganese(7) - 4 -
Intra-divisional adjustment (9) (1)
1 370 414 128
Non Ferrous &
industrial Materials
South American Copper 561 255 77
Pacific Copper 228 34 34
EKATI(TM) diamonds 104 77 8
Cannington silver-lead-
zinc 142 47 15
Other Businesses(8) 127 20 2
Intra-Divisional
adjustment (1) (2)
1 161 431 136
Minerals Development 3 (54) 3
Divisional Activities (2) (24) 1
2 532 767 268
Steel
Flat Products 698 109 49
Coated Products 1 135 137 38
Discontinuing
Operations (9) 1 074 116 79
Intra-divisional
adjustment (631) 16 -
Divisional activities 36 (15) 1
2 312 363 167
Petroleum(10)
Bass Strait 635 353 70
North West Shelf 388 280 37
Liverpool Bay 194 155 66
Other Businesses 526 294 136
Marketing Activities 481 5 -
Intra-divisional
adjustments (389) -
Divisional activities (109) (131) -
1 726 956 309
Services 501 35 11
Net Unallocated Interest - 18 -
Group and unallocated items (86) (161) 4
BHP Group 6 515 1 978 759
Capital & (3) Exploration
Investment (before tax)
Expenditure Gross(4)(5) Charged to
Profit (6)
Minerals
Steelmaking and
Energy Materials
Iron Ore 5
Coal 17
Hot Briquetted
iron 61
Manganese(7) -
Intra-divisional
adjustment
83
Non Ferrous &
industrial Materials
South American Copper 28
Pacific Copper 9
EKATI(TM) diamonds 10
Cannington silver-lead-
zinc 4
Other Businesses(8) -
Intra-Divisional
adjustment
51
Minerals Development (3)
Divisional Activities (1)
130 40 38
Steel
Flat Products 16
Coated Products 6
Discontinuing
Operations (9) 12
Intra-divisional
Adjustment
Divisional activities -
34 - -
Petroluem(10)
Bass Strait 42
North West Shelf 12
Liverpool Bay 9
Other Businesses 46
Marketing Activities -
Intra-divisional
adjustment
Divisional activities - 42 49
109 42 49
Services 6 - -
Net Unallocated Interest - - -
Group and unallocated items 3 - -
BHP Group 282 82 87
(1) Sales revenues do not add to the BHP Group figure due to intersegment
transactions.
(2) EBITDA is earnings before borrowing costs, income tax, and depreciation
and amortisation.
(3) Excludes capitalised interest and capitalised exploration.
(4) Includes capitalised exploration: Minerals $2 million and Petroleum
$11 million.
(5) Gross exploration for Petroleum of $42 million comprises current period
expenditure of $55 million adjusted by $13 million associated with the
Typhoon development which has been reclassified from exploration
expenditure to capital expenditure.
(6) Includes $5 million Petroleum exploration expenditure previously
capitalised, now written off.
(7) Principal manganese assets were sold in December 1998.
(8) Includes North America Copper mining and smelting operations which ceased
during the August 1999 quarter, Beenup mineral sands operation which closed
in April 1999 and Hartley platinum mine where operations have been
suspended pending conditional sale.
(9) Includes the Long Products business, Newcastle primary steelmaking
operations, US steel assets, and strip casting assets.
(10) Petroleum sales revenue includes: Crude oil $1,228 million, Natural gas
$165 million, LNG $150 million, LPG $118 million and Other $65 million.
-21-
Supplementary Information - Business Results
Four months ended
31 March 1999 Sales (1) EBITDA (2) Depreciation
revenue (before & amortisation
abnormal
items)
Minerals
Steelmaking and
Energy Materials
Iron Ore 539 271 43
Coal 1 048 296 88
Hot Briquetted
iron 3 (10) -
Manganese(6) 45 7 1
Intra-divisional
adjustment (6) (1)
1 629 563 132
Non Ferrous &
industrial Materials
South America Copper 459 145 66
Pacific Copper 229 40 35
EKATI(TM) diamonds 43 40 13
Cannington silver-lead-
zinc 117 36 10
Other Businesses(7) 418 (51) 42
Intra-Divisional
adjustment (2) 4
1 264 214 166
Minerals Development 12 (89) 5
Divisional Activities 1 (24) 3
2 906 664 306
Steel
Flat Products 707 57 46
Coated Products 1 068 109 47
Discontinuing
Operations (8) 1 191 75 65
Intra-divisional
adjustment (598) 11
Divisional activities 18 (15) -
2 386 237 158
Petroleum(9)
Bass Strait 281 113 54
North West Shelf 187 133 24
Liverpool Bay 103 73 56
Other Businesses 248 82 120
Marketing Activities 152 23 1
Intra-divisional
adjustment (75) -
Divisional activities 17 1 -
913 425 255
Services 647 49 21
Net Unallocated Interest - 32 -
Group and unallocated items (148) (183) 5
BHP Group 6 083 1 224 745
Capital & (3) Exploration
Investment (before tax)
Expenditure Gross(4) Charged to
Profit (5)
Minerals
Steelmaking and
Energy Materials
Iron Ore 34
Coal 48
Hot Briquetted
iron 110
Manganese(6) 2
Intra-divisional
adjustment
194
Non Ferrous &
industrial Materials
South American Copper 73
Pacific Copper 4
EKATI(TM) diamonds 12
Cannington silver-lead-
zinc 8
Other Businesses(7) 41
Intra-Divisional
adjustment
138
Minerals Development 2
Divisional Activities -
334 77 89
Steel
Flat Products 32
Coated Products 12
Discontinuing
Operations (8) 69
Intra-divisional
Adjustment
Divisional activities - -
113 - -
Petroluem(9)
Bass Strait 105
North West Shelf 31
Liverpool Bay 20
Other Businesses 87
Marketing Activities -
Intra-divisional
adjustment
Divisional activities - 97 76
243 97 76
Services 9 - -
Net Unallocated Interest - - -
Group and unallocated items 82 - -
BHP Group 781 174 165
(1) Sales revenues do riot add to the BHP Group figure due to intersegment
transactions.
(2) EBITDA is earnings before borrowing costs, income tax, and
depreciation and amortisation.
(3) Excludes capitalised interest and capitalised exploration.
(4) Includes capitalised exploration: Minerals $5 million and
Petroleum $21 million.
(5) Includes $17 million Minerals exploration expenditure previously
capitalised, now written off.
(6) Principal manganese assets were sold in December 1998.
(7) Includes North America Copper mining and smelting operations which ceased
during the August 1999 quarter, Beencup mineral sands operation which
closed in April 1999 and Hartley platinum mine where operations have been
suspended pending conditional sale.
(8) Includes the Long Products business, Newcastle primary steelmaking
operations, US steel assets, Lifting Products, Tubemakers Water, and strip
casting assets.
(9) Petroleum sales revenue includes: Crude oil $444 million, Natural gas $164
million, LNG $111 million, LPG $46 million and Other $148 million.
-22-
Restated Financial Information
The tables on pages 22 and 23 have been included to provide selected financial
period comparatives which reflect the outcome of the Steel Portfolio Review and
minor adjustments to sales revenue and EBITDA within Petroleum following the
transfer of other sales' from marketing activities to the relevant asset
category.
Half year ended $ Million
30 November 1999 Sales(1) EBITDA(2) Depreciation &
revenue (before amoritization
abnormal
items)
Minerals
Steelmaking and
Energy Materials
Iron Ore 688 340 68
Coal 1 332 398 140
Hot Briquetted
iron 36 (101) 6
Manganese(6) 1 2 -
Intra-divisional
adjustment (16) (5)
2 041 634 214
Non Ferrous &
industrial Materials
South American Copper 799 338 98
Pacific Copper 307 55 50
EKATI(TM) diamonds 174 135 20
Cannington silver-lead-
zinc 211 67 22
Other Businesses(7) 502 30 4
Intra-Divisional
adjustment - -
1 993 625 194
Minerals Development 4 (32) 5
Divisional Activities (2) (44) -
4 036 1 183 413
Steel
Flat Products 1 117 153 70
Coated Products 1 699 207 56
Discontinuing
Operations (8) 1 828 144 84
Intra-divisional
adjustment (1 016) (8)
Divisional activities 52 (21) -
3 680 475 210
Petroluem(9)
Bass Strait 816 457 92
North West Shelf 384 278 42
Liverpool Bay 182 127 76
Other Businesses 368 230 103
Marketing Activities 553 1 1
Intra-divisional
adjustment (342) -
Divisional activities (124) (154) -
1 837 939 314
Services 868 76 18
Net Unallocated Interest - 25 -
Group and unallocated items (107) (167) 7
BHP Group 9 527 2 531 962
$ Million
Net Capital & (3) Exploration
Assets Investment (before tax)
Expenditure Gross(4) Charged to
Profit (5)
Minerals
Steelmaking and
Energy Materials
Iron Ore 1 991 11
Coal 1 870 41
Hot Briquetted
iron 1 600 111
Manganese(6) 49 -
Intra-divisional
adjustment (1)
5 509 163
Non Ferrous &
industrial Materials
South America Copper 2 496 21
Pacific Copper 671 -
EKATI(TM) diamonds 482 1
Cannington silver-lead-
zinc 527 4
Other Businesses(7) (625) 20
Intra-Divisional
adjustment 1
3 552 46
Minerals Development 280 2
Divisional Activities (4) (3)
9 337 208 30 25
Steel
Flat Products 1 847 22
Coated Products 1 819 11
Discontinuing
Operations (8) 3 072 49
Intra-divisional
Adjustment (51) (22)
Divisional activities (5)
6 682 60 - -
Petroluem(9)
Bass Strait 866 96
North West Shelf 1 216 31
Liverpool Bay 445 11
Other Businesses 1 482 94
Marketing Activities 15 -
Intra-divisional
adjustments
Divisional activities 7 - 100 79
4 031 232 100 79
Services 121 14 - -
Net Unallocated Interest (9 679) - - -
Group and unallocated items 22 14 - -
BHP Group 10 514 528 130 104
(1) Sales revenues do not add to the BHP Group figure due to intersegment
transactions.
(2) EBITDA is earnings before borrowing costs, income tax, and depreciation
and amortisation.
(3) Excludes capitalised interest and capitalised exploration.
(4) Includes capitalised exploration: Minerals $5 million and Petroleum $32
million.
(5) Includes $11 million Petroleum exploration expenditure previously
capitalised, now written off.
(6) Principal manganese assets were sold in December 1998.
(7) Includes North America Copper mining and smelting operations which ceased
during the August 1999 quarter, Beenup mineral sands operation, which
closed in April 1999, and Hartley Platinum mine where operations have been
suspended pending conditional sale.
(8) Includes the Long Products business, Newcastle primary steelmaking
operations, US steel assets, and strip casting assets.
(9) Petroleum sales revenue includes: Crude oil $1 183 million, Natural gas
$172 million, LNG $161 million, LPG $128 million and Other $193 million.
-23-
Restated Financial Information
Half year ended $ Million
30 November 1998(1) Sales(2) EBITDA(3) Depreciation &
revenue (before amoritization
abnormal
items)
Minerals
Steelmaking and
Energy Materials
Iron Ore 903 490 72
Coal 1 689 582 143
Hot Briquetted
Iron(6) - 25 1
Manganese(7) 238 66 10
Intra-divisional
adjustment - -
2 830 1 163 226
Non Ferrous &
industrial Materials
South America Copper 761 256 79
Pacific Copper 378 115 54
EKATI(TM) diamonds(8) - 7 -
Cannington silver-lead-
zinc 178 42 15
Other Businesses(9) 682 (22) 69
Intra-Divisional
adjustment (27) -
1 972 398 217
Minerals Development 20 (87) 7
Divisional Activities (7) (42) -
4 815 1 432 450
Steel
Flat Products 1 198 175 73
Coated Products 1 797 216 65
Discontinuing
Operations (10) 2 107 177 96
Intra-divisional
adjustment (1 095) 9
Divisional activities 57 (19) -
4 064 558 234
Petroluem(11)
Bass Strait 470 235 67
North West Shelf 332 226 48
Liverpool Bay 184 126 92
Other Businesses 321 114 135
Marketing Activities 180 (11) 1
Intra-divisional
adjustments (41) -
Divisional activities 3 (19) -
1 449 671 343
Services 1 090 133 38
Net Unallocated Interest - 75 -
Group and unallocated items (379) (567) 10
BHP Group 9 954 2 302 1 075
$ Million
Net Capital & (4) Exploration
Assets Investment (before tax)
Expenditure Gross(5) Charged to
Profit
Minerals
Steelmaking and
Energy Materials
Iron Ore 1 709 42
Coal 1 989 57
Hot Briquetted
Iron (6) 1 912 325
Manganese(7) 331 2
Intra-divisional
adjustment -
5 941 426
Non Ferrous &
industrial Materials
South America Copper 2 520 229
Pacific Copper 773 15
EKATI(TM) diamonds (8) 572 42
Cannington silver-lead-
zinc 546 9
Other Businesses(9) 1 619 68
Intra-Divisional
adjustment (4)
6 026 363
Minerals Development 324 4
Divisional Activities 73 2
12 364 795 115 97
Steel
Flat Products 1 878 67
Coated Products 2 163 21
Discontinuing
Operations (10) 3 351 99
Intra-divisional
Adjustment (52)
Divisional activities 63 1
7 403 188 - -
Petroluem(11)
Bass Strait 812 127
North West Shelf 1 223 47
Liverpool Bay 1 387 45
Other Businesses 2 035 189
Marketing Activities 14 -
Intra-divisional
adjustment
Divisional activities 31 - 140 79
5 502 408 140 79
Services 497 10 - -
Net Unallocated Interest (13 064) - - -
Group and unallocated items 38 - - -
BHP Group 12 740 1 401 255 176
(1) These figures have been restated to reflect the transfer of internal
currency hedging results from Minerals, Steel and Petroleum to Group and
unallocated items. The results of internal currency hedging activities
eliminate within Group and unallocated items.
(2) Sales revenues do not add to the BHP Group figure due to intersegment
transactions.
(3) EBITDA is earnings before borrowing costs, income tax and depreciation
and amortisation.
(4) Excludes capitalised interest and capitalised exploration.
(5) Includes capitalised exploration: Minerals $18 million and Petroleum $61
million.
(6) Includes profit on sale of Karratha to Port Hedland natural gas pipeline.
(7) Principal manganese assets were sold in December 1998.
(8) Production at EKATI(TM) diamond mine commenced in October 1998.
(9) Includes North America Copper mining and smelting operations which ceased
during the August 1999 quarter, Beenup mineral sands operation, which was
closed in April 1999, and Hartley Platinum mine where operations have been
suspended pending conditional sale.
(10) Includes the Long Products business, Newcastle primary steelmaking
operations, US steel assets, Lifting Products, Tubemakers Water, and strip
casting assets.
(11) Petroleum sales revenue includes: Crude oil $729 million, Natural gas $269
million, LNG $167 million, LPG $87 million and Other $197 million.
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