Rslts to 30 June 00 - Part 2
Broken Hill Proprietary Co Ld
2 August 2000
PART 2
Supplementary Information - Abnormal Items by Segment
Thirteen months ended 30 June 2000
$ Million
Gross Tax Net
Minerals:
Write-off of HBI plant (1,138) 344 (794)
Restatement of deferred tax balances 58 58
Restructuring costs and provisions (9) 1 (8)
(1,147) 403 (744)
Steel:
Asset sales - US west coast steel
businesses (227) 4 (223)
Restatement of deferred tax balances 84 84
Restructuring costs and provisions (31) 11 (20)
(258) 99 (159)
Petroleum:
Asset sales - Bolivia to Brazil pipeline 70 (1) 69
- PNG assets 80 - 80
Restatement of deferred tax balances 36 36
Restructuring costs and provisions (21) 7 (14)
129 42 171
Services:
Asset sales - BHP Information Technology 63 - 63
Restatement of deferred tax balances 2 2
Restructuring costs and provisions (37) 14 (23)
26 16 42
Net unallocated interest:
Restatement of deferred tax balances (3) (3)
Group and unallocated Items:
Funding arrangements - Beenup mineral
sands project 112 112
Funding arrangements - HBI plant write-off 190 190
Restatement of deferred tax balances (11) (11)
Restructuring costs and provisions (5) 2 (3)
(5) 293 288
Total abnormal items (1,255) 850 (405)
Year ended 31 May 1999 $ Million
Gross Tax Net
Minerals:
Asset write-downs and provisions (3,395) 399 (2,996)
Asset sales - Manganese assets 343 4 347
(3,052) 403 (2,649)
Steel:
Asset write-downs and provisions (105) - (105)
Petroleum:
Asset write-downs and provisions (210) - (210)
Asset sales - Bayu-Undan and other
Timor Gap properties 120 1 121
(90) 1 (89)
Services:
Asset sales - BHP Power business 172 1 173
Group and unallocated Items:
Asset write-downs and provisions (13) - (13)
Asset sales - Principal manganese assets 9 (3) 6
(4) 3 (7)
Total abnormal items (3,079) 402 (2,677)
-20-
Supplementary Information - Segment Results (Financial Period)
Thirteen months ended 30 June 2000 compared with year ended 31 May 1999 (1)(2)
Thirteen months ended 30 June 2000
Operating Revenue (3)
$Million
Sales Other Revenue Total
8 662 554 9 216 Minerals
7 966 630 8 596 Steel
5 029 610 5 639 Petroleum
1 826 269 2 095 Services
- 65 65 Net unallocated interest
(302) 49 (235) Group and unallocated items (7)
21 506 2 177 23 683 BHP Group
Operating Profit
$Million
Dep'n & Borrowing
EBITDA(4) Amortisation Costs EBT (5)
Minerals 2 581 (889) - 1 692
Steel 1 063 (463) (1) 599
Petroleum 2 653 (883) - 1 770
Services 121 (42) - 79
Net unallocated interest 65 - (722) (657)
Group and unallocated items (7) (503) (15) - (518)
BHP Group 5 980 (2 292) (723) 2 965
Operating
Tax Abnormal profit
excluding items including
abnormal after abnormals
items tax(6) after tax
Minerals (468) (744) 480
Steel (189) (159) 251
Petroleum (615) 171 1 326
Services (6) 42 115
Net unallocated interest 145 (3) (515)
Group and unallocated items (7) 166 288 (64)
BHP Group (967) (405) 1 593
Year Ended 31 May 1999
Operating Revenue (3)
$Million
Sales Other Revenue Total
9 199 1 029 10 228 Minerals
7 720 464 8 184 Steel
2 827 386 3 213 Petroleum
2 077 690 2 767 Services
- 111 111 Net unallocated interest
(558) 12 (546) Group and unallocated items (7)
19 229 2 692 21 921 BHP Group
Operating Profit
$Million
Dep'n & Borrowing
EBITDA(4) Amortisation Costs EBT (5)
Minerals 2 274 (944) - 1 330
Steel 889 (488) - 401
Petroleum 1 238 (702) - 536
Services 179 (67) - 112
Net unallocated interest 111 - (732) (621)
Group and unallocated items (7) (807) (17) - (824)
BHP Group 3 884 (2 218) (723) 934
Operating
Tax Abnormal profit
excluding items including
abnormal after abnormals
items tax(8) after tax
Minerals (652) (2 649) (1 971)
Steel (133) (105) 163
Petroleum (215) (89) 232
Services (15) 173 270
Net unallocated interest 172 - (449)
Group and unallocated items (7) 277 (7) (554)
BHP Group (566) (2 677) (2 309)
(1) Before outside equity interests.
(2) Comparative 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.
(3) Operating revenues do not add to the BHP Group figure due to intersegment
transactions.
(4) EBITDA is earnings before borrowing costs, tax and depreciation and
amortisation.
(5) EBT (earnings before tax) is EBIT (earnings before borrowing costs and tax)
for all Business except Net unallocated interest.
(6) Tax benefit/(expense) on 2000 abnormal items: Minerals $403 million, Steel
$99 million, Petroleum $42 million, Services $16 million, Net unallocated
interest ($3) million, Group and unallocated items $293 million.
(7) Includes consolidation adjustments and unallocated items.
(8) Tax benefit/(expense) on 1999 abnormal items: Minerals $403 million,
Petroleum $1 million, Services $1 million and Group and unallocated items $(3)
million.
Supplementary Information - Segment Results (Quarter)
Quarterly comparison - June 2000 with May 1999 (1) (2)
Quarter ended 30 June 2000
Operating Revenue (3)
$Million
Sales Other Revenue Total
2 094 88 2 182 Minerals
1 974 554 2 528 Steel
1 466 141 1 607 Petroleum
457 88 545 Services
- 22 22 Net unallocated interest
(109) 3 (106) Group and unallocated items (7)
5 464 896 6 360 BHP Group
Operating Profit
$Million Operating
Tax Abnormal profit
excluding items including
Dep'n & Borrowing abnormal after abnormals
EBITDA(4) Amortisation Costs EBT (5) items tax(6) after tax
631 (208) - 423 (63) 1 361
225 (86) (1) 138 (40) (222) (124)
758 (260) - 498 (160) 42 380
10 (13) - (3) 5 37 39
22 - (156) (134) 18 1 (115)
(175) (4) - (179) 58 (12) (133)
1 471 (571) (157) 743 (182) (153) 408
Quarter ended 31 May 1999
Operating Revenue (3)
$Million
Sales Other Revenue Total
2 199 88 2 287 Minerals
1 936 363 2 299 Steel
716 286 1 002 Petroleum
490 2 492 Services
- 9 9 Net unallocated interest
(64) 7 (57) Group and unallocated items (7)
4 796 755 5 551
Operating Profit
$Million Operating
Tax Abnormal profit
excluding items including
Dep'n & Borrowing abnormal after abnormals
EBITDA(4) Amortisation Costs EBT (5) items tax(8) after tax
369 (268) - 101 (93) (2 842) (2 834)
156 (135) - 21 (4) (105) (88)
234 (158) - 76 (41) (89) (54)
10 (12) - (2) 4 - 2
9 - (172) (163) 73 - (90)
(113) (4) - (117) 31 (13) (99)
665 (577) (172) (84) (30) (3 049) (3 163)
(1) Before outside equity interests
(2) Comparative 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.
(3) Operating revenues do not add to the BHP Group figure due to intersegment
transactions.
(4) EBITDA is earnings before borrowing costs, tax and depreciation and
amortisation.
(5) EBT (earnings before tax) is EBIT (earnings before borrowing costs and tax)
for all Businesses except Net unallocated interest.
(6) Tax benefit/(expense) on 2000 abnormal items: Minerals $10 million, Steel
$36 million, Petroleum $(7) million, Services $11 million, Net unallocated
interest ($1) million, Group and unallocated items $(7) million.
(7) Includes consolidation adjustments and unallocated items.
(8) Tax benefit on 1999 abnormal items: Minerals $359 million and Petroleum $1
million.
Supplementary Information - Segment Results (Quarter)
Quarterly comparison - June 2000 with March 2000(1)
Quarter ended 30 June 2000
Operating Revenue (2)
$Million
Sales Other Revenue Total
2 094 88 2 182 Minerals
1 974 554 2 528 Steel
1 466 141 1 607 Petroleum
457 88 545 Services
- 22 22 Net unallocated interest
(109) 3 (106) Group and unallocated items (6)
5 464 896 6 360 BHP Group
Operating Profit
$Million Operating
Tax Abnormal profit
excluding items including
Dep'n & Borrowing abnormal after abnormals
EBITDA(3) Amortisation Costs EBT (4) items tax(5) after tax
631 (208) - 423 (63) 1 361
225 (86) (1) 138 (40) (222) (124)
758 (260) - 498 (160) 42 380
10 (13) - (3) 5 37 39
22 - (156) (134) 18 1 (115)
(175) (4) - (179) 58 (12) (133)
1 471 (571) (157) 743 (182) (153) 408
Quarter ended 31 March 2000
Operating Revenue (2)
$Million
Sales Other 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 Operating
Tax Abnormal profit
excluding items including
Dep'n & Borrowing abnormal after abnormals
EBITDA(3) Amortisation Costs EBT (4) items tax(7) after tax
639 (200) - 439 (141) (794) (496)
306 (132) - 174 (47) - (127)
766 (239) - 527 (192) - (335)
6 (9) - (3) 1 - (2)
9 - (156) (147) 35 - (112)
(123) (2) - (125) 34 190 99
1 603 (582) (156) (865) (310) (604) (49)
(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, tax and depreciation and
amortisation.
(4) EBT (earnings before tax) is EBIT (earnings before borrowing costs and tax)
for all Businesses except Net unallocated interest.
(5) Tax benefit/(expense) on 2000 abnormal items: Minerals $10 million, Steel
$36 million, Petroleum $(7) million, Services $11 million, Net unallocated
interest ($1) million, Group and unallocated items $(7) million.
(6) Includes consolidation adjustments and unallocated items.
(7) Tax benefit on March 2000 quarter abnormal items: Minerals $344 million and
Group and unallocated items $190 million.
Supplementary Information - Business Results
Thirteen months ended
30 June 20000 $Million
Sales (1) EBITDA (2) Deprec & Net (3) Cap &(4) Exploration
Revenue (before Amort'n assets Inv (before tax)
abnormal expend Charged
items) Gross(5) to
Profit(6)
Minerals
Steelmaking &
Energy Material
Iron Ore 1 521 761 145 1 870 38
Coal 3 011 875 288 1 741 101
Hot Briquetted
Iron 75 (258) 9 542 237
Manganese(7) 1 6 - 52 -
Intra-divisional
adjustment (32) (11) (3)
4 576 1 373 442 4 202 376
Non Ferrous &
Industrial
Materials
South American
Copper 1 839 799 229 2 716 107
Pacific Copper 727 106 112 669 26
EKATI TM Diamonds 346 270 38 527 28
Cannington silver
-lead-zinc 498 162 48 493 11
Other Businesses
(8) 673 74 7 (684) 21
Intra-divisional
adjustment (2) (8) - (1)
4 081 1 403 434 3 721 192
Minerals
Development 12 (121) 11 349 3
Divisional
activities (7) (74) 2 19 (4)
8 662 2 581 889 8 291 567 110 101
Steel
Flat Products 2 454 333 154 1 764 58
Coated Prdts 3 788 465 129 1 777 33
Discontinuing
Operations (9) 3 779 304 180 2 370 200
Intra-divisional
adjustment (2 182) 12 (40)
Divisional
activities 127 (51) - (21) (9)
7 966 1 063 463 5 850 282
Petroleum(10)
Bass Strait 1 957 1 149 210 711 171
North West
Shelf 1 075 778 128 1 159 55
Liverpool Bay 546 416 199 527 31
Other Bus's 1 285 680 345 1 136 231
Marketing Acts 1 437 14 1 (15) 1
Intra-divisional
adjustment (965) - - (7) -
Divisional Acts (306) (384) - 4 - 263 208
5 029 2 653 883 3 515 489 263 208
Services 1 826 121 42 57 29 - -
Net unallocated
interest 65 - (6 982) - - -
Group and
unallocated
items (302) (503) 15 274 122 - -
BHP Group 21 506 5 980 2 292 11 005 1 489 373 309
(1) Sales revenues do not add to the BHP Group figure due to intersegment
transactions.
(2) EBITDA is earnings before borrowing costs, tax and depreciation and
amortisation.
(3) Provisional balances
(4) Excludes capitalised interest and capitalised exploration.
(5) Includes capitalised exploration: Minerals $9 million and Petroleum $71
million.
(6) Includes $16 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 sand operation, which closed in
April 1999, and Hartley Platinum mine where operations have been suspended
pending conditional sale.
(9) includes the Long Products business (oneSteel), Newcastle primary
steelmaking operations, US steel assets, and strip casting assets.
(10)Petroleum sales revenue includes: Crude oil $3,420 million, Natural Gas $458
million, LNG $422 million, LPG $317 million and Other $412 million.
Supplementary Information - Business Results
Year ended
31 May 1999 (1) $ Million
Sales (2) EBITDA (3) Deprec & Net Cap &(4) Exploration
Revenue (before Amort'n assets Inv (before tax)
abnormal expend Charged
items) Gross(5) to
Profit(6)
Minerals
Steelmaking &
Energy Material
Iron Ore 1 650 807 136 1 645 97
Coal 3 250 994 282 1 884 184
Hot Briquetted
Iron (7) 9 (31) 5 1 573 466
Manganese(8) 281 71 11 41 4
Intra-divisional
adjustment (13) (1) (2)
5 177 1 842 434 5 141 751
Non Ferrous &
Industrial
Materials
South American
Copper 1 512 518 177 2 521 396
Pacific Copper 731 195 107 691 25
EKATI TM
Diamonds(9) 93 87 20 608 60
Cannington silver
-lead-zinc 381 103 54 521 20
Other Businesses
(10) 1 297 (123) 132 (798) 142
Intra-divisional
adjustment (32) (2) (2)
3 982 782 490 3 541 643
Minerals
Development 47 (262) 16 192 10
Divisional
activities (7) (88) 4 (29) (3)
9 199 2 274 944 8 845 1 407 286 278
Steel
Flat Products 2 285 277 144 1 864 129
Coated Prdts 3 424 366 145 1 922 45
Discontinuing
Operations(11) 4 295 245 199 2 893 222
Intra-divisional
adjustment (2 369) 20 (48) (5)
Divisional
activities 85 (19) - (8) (1)
7 720 889 488 6 623 392 - -
Petroleum(12)
Bass Strait 974 488 142 819 289
North West
Shelf 593 402 84 1 148 96
Liverpool Bay 322 223 166 653 72
Other Bus's 666 159 307 1 574 302
Marketing Acts 435 10 3 (45) 13
Intra-divisional
adjustment (173) - - - -
Divisional Acts 10 (44) - 22 - 344 197
2 827 1 238 702 4 261 772 344 197
Services 2 077 179 67 93 24 - -
Net unallocated
interest 111 - (10 447) - - -
Group and
unallocated
items (558) (807) 17 (14) 80 - -
BHP Group 19 229 3 884 2 218 9 361 2 675 630 475
(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, tax and depreciation and
amortisation.
(4) Excludes capitalised interest and capitalised exploration.
(5) Includes capitalised exploration: Minerals $29 million and Petroleum $147
million.
(6) Includes $21 million Petroleum exploration expenditure previously
capitalised, now written off.
(7) Includes profit on sale of Karratha to Port Hedland natural gas pipeline.
(8) Principal manganese assets were sold in December 1998.
(9) Production at EKATI TM diamond mine commenced in October 1998.
(10) 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.
(11) Includes the Long Products business (oneSteel), Newcastle primary
steelmaking operations, US steel assets, Lifting Products, Tubemakers Water and
strip casting assets.
(12)Petroleum sales revenue includes: Crude oil $1,411 million, Natural Gas $511
million, LNG $320 million, LPG $165 million and Other $420 million.
-25-
Supplementary Information - Consolidated Financial Results year ended 30 June
The tables on pages 25 to 28 have been included to provide selected details of
the results for the years ended 30 June 2000 and 30 June 1999. These results are
not subject to audit.
Year ended 30 June
2000 1999 Change
$Million $ Million %
Operating revenue
Sales 19 872 19 287 +3.0
Interest revenue 89 166 -46.4
Other revenue 1 992 2 566 -22.4
21 953 22 019 -0.3
Operating profit including abnormal items, before
depreciation, amortisation and borrowing costs 4 404 767 +474.2
Deduct: Depreciation and amortisation 2 140 2 203 -2.9
Borrowing costs (1) 664 718 -7.5
*Operating profit/(loss) before tax 1 600 (2 154)
Deduct: **Tax expense attributable to
operating profit 51 148 -65.5
Operating profit/(loss) after tax 1 549 (2 302)
Outside equity interests in operating
profit after tax 32 3
Operating profit/(loss) after tax,
attributable to members of the BHP Entity 1 581 (2 299)
The operating profit/(loss) after tax,
attributable to members of the BHP Entity comprises:
* Operating profit before abnormal items
and tax 2 855 925 +208.6
**Tax expense attributable to
operating profit before abnormal items (901) (550)
Operating profit after tax before
abnormal items 1 954 375 +421.1
Outside equity interests in operating profit after
tax before abnormal items 32 3
Operating profit after tax, before
abnormal items, attributable to members of
the BHP Entity 1 986 378 +425.4
* Abnormal items included in operating
profit before tax (1 255) (3 079)
**Abnormal tax benefit 850 402
Abnormal items after tax (405) (2 677)
Operating profit/(loss) after tax,
attributable to members of the BHP Entity 1 581 (2 299)
Average A$/US$ hedge settlement rate 63 c 63 c
(1) Excludes capitalised interest of $15m $188m
Supplementary Information - Segment Results year ended 30 June
Annual Comparison - 30 June 2000 with 30 June 1999 (1)
Year ended 30 June 2000
Operating Revenue (2)
$Million
Sales Other Revenue Total
8 108 544 8 652 Minerals
7 386 629 8 015 Steel
4 774 607 5 381 Petroleum
1 697 194 1 891 Services
- 60 60 Net unallocated interest
(544) 47 ( 497) Group and unallocated items (6)
19 872 2 081 21 953 BHP Group
Operating Profit
$Million Operating
Tax Abnormal profit
excluding items including
Dep'n & Borrowing abnormal after abnormals
EBITDA(3) Amortisation Costs EBT (4) items tax(5) after tax
2 438 (827) - 1 611 (431) (744) 436
998 (428) (1) 569 (177) (159) 233
2 533 (833) - 1 700 (579) 171 1 292
106 (39) - 67 (2) 42 107
60 - (663) (603) 134 (3) (472)
(476) (13) - (489) 154 288 (47)
5 659 (2 140) (664) 2 855 (901) (405) 1 549
Year ended 30 June 1999
Operating Revenue (2)
$Million
Sales Other Revenue Total
9 011 1 027 10 038 Minerals
7 639 461 8 100 Steel
2 840 363 3 203 Petroleum
2 040 765 2 805 Services
- 104 104 Net unallocated interest
(255) 12 ( 243) Group and unallocated items (6)
19 287 2 732 22 019 BHP Group
Operating Profit
$Million Operating
Tax Abnormal profit
excluding items including
Dep'n & Borrowing abnormal after abnormals
EBITDA(3) Amortisation Costs EBT (4) items tax(7) after tax
2 187 (936) - 1 251 (609) (2 649) (2 007)
846 (484) - 362 (120) (105) 137
1 229 (702) - 527 (220) (89) 218
180 (64) - 116 (17) 173 272
104 - (718) (614) 167 - (447)
(700) (17) - (717) 249 (7) (475)
3 846 (2 203) (718) 925 (550) (2 677) (2 302)
(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, tax and depreciation and
amortisation.
(4) EBT (earnings before tax) is EBIT (earnings before borrowing costs and tax)
(5) Tax benefit/(expense) on 2000 abnormal items: Minerals $403 million, Steel
$99 million, Petroleum $42 million, Services $16 million, Net unallocated
interest ($3) million, Group and unallocated items $293 million.
(6) Includes consolidation adjustments and unallocated items.
(7) Tax benefit/(expense) on 1999 abnormal items: Minerals $403 million,
Petroleum $1 million, Services $1 and Group and unallocated items $(3) million.
Supplementary Information - Business Results year ended 30 June 2000
Year ended
30 June 2000)
Sales (1) EBITDA (2) Deprec & Net (3) Cap & Exploration
Revenue (before Amort'n assets Inv (before tax)
abnormal expend Charged
items) Gross(5) to
Profit
Minerals (6)
Steelmaking &
Energy Material
Iron Ore 1 425 706 135 1 870 36
Coal 2 793 812 268 1 741 100
Hot Briquetted
Iron 71 (242) 8 542 144
Manganese(7) 1 6 - 52 -
Intra-divisional
adjustment (31) (10) (3)
4 259 1 272 411 4 202 280
Non Ferrous &
Industrial
Materials
South American
Copper 1 733 753 216 2 716 102
Pacific Copper 703 104 104 669 26
EKATI TM Diamonds 343 263 35 527 28
Cannington silver
-lead-zinc 475 154 45 493 11
Other Businesses
(8) 591 73 5 (684) 9
Intra-divisional
adjustment - (7) -
3 845 1 340 405 3 721 176
Minerals
Development 12 (113) 9 349 3
Divisional
activities (8) (61) 2 (19) (7)
8 108 2 438 827 8 291 452 101 92
Steel
Flat Products 2 267 306 142 1 764 55
Coated Prdts 3 516 431 120 1 777 31
Discontinuing
Operations(9) 3 452 294 166 2 370 195
Intra-divisional
adjustment (1 970) 16 (40)
Divisional
activities 121 (49) - (21) (9)
7 386 998 428 5 850 272 - -
Petroleum(10)
Bass Strait 1 850 1 097 197 711 141
North West
Shelf 1 016 736 122 1 159 47
Liverpool Bay 522 403 186 527 29
Other Bus's 1 242 659 328 1 136 219
Marketing Acts 1 387 14 - (15) 1
Intra-divisional
adjustment (943) - - (7) -
Divisional Acts (300) (376) - 4 - 247 190
4 774 2 533 833 3 515 437 247 190
Services 1 697 106 39 57 19 - -
Net unallocated
interest 60 - (6 982) - - -
Group and
unallocated
items (544) (476) 13 (274) 176 - -
BHP Group 19 872 5 659 2 140 11 005 1 356 348 282
(1) Sales revenues do not add to the BHP Group figure due to intersegment
transactions.
(2) EBITDA is earnings before borrowing costs, tax and depreciation and
amortisation.
(3) Provisional balances
(4) Excludes capitalised interest and capitalised exploration.
(5) Includes capitalised exploration: Minerals $9 million and Petroleum $67
million.
(6) Includes $10 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 (oneSteel), Newcastle primary
steelmaking operations, US steel assets, and strip casting assets.
(10)Petroleum sales revenue includes: Crude oil $3,274 million, Natural Gas $426
million, LNG $398 million, LPG $305 million and Other $371 million.
Supplementary Information - Business Results year ended 30 June 1999
Year ended
30 June 1999
Sales (1) EBITDA (2) Deprec & Net (3) Cap & Exploration
Revenue (before Amort'n assets Inv (before tax)
abnormal expend Charged
items) Gross(4) to
Profit
Minerals (5)
Steelmaking &
Energy Material
Iron Ore 1 595 777 135 2 012 83
Coal 3 207 976 282 1 876 183
Hot Briquetted
Iron (6) 13 (47) 6 1 660 511
Manganese (7) 243 61 10 42 4
Intra-divisional
adjustment (12) - (3)
5 046 1 767 433 5 587 781
Non Ferrous &
Industrial
Materials
South American
Copper 1 488 518 178 2 443 382
Pacific Copper 719 168 106 702 25
EKATI TM Diamonds 96 92 23 612 45
(8)
Cannington silver
-lead-zinc 373 102 55 522 19
Other Businesses
(9) 1 271 (115) 122 (714) 148
Intra-divisional
adjustment (21) 4 (2)
3 926 769 484 3 563 619
Minerals
Development 46 (257) 16 172 12
Divisional
activities (7) (92) 3 (27) 2
9 011 2 187 936 9 295 1 414 282 276
Steel
Flat Products 2 291 269 144 1 881 122
Coated Prdts 3 388 358 144 1 916 41
Discontinuing
Operations(10) 4 263 222 196 2 896 220
Intra-divisional
adjustment (2 386) 18 (48) (5)
Divisional
activities 83 (21) - (7) 1
7 639 846 484 6 638 379 - -
Petroleum(11)
Bass Strait 964 473 142 804 298
North West
Shelf 609 415 84 1 154 100
Liverpool Bay 321 218 164 620 66
Other Bus's 666 163 309 1 573 280
Marketing Acts 471 10 3 57 13
Intra-divisional
adjustment (195) - - - -
Divisional Acts 4 (50) - 23 - 323 201
2 840 1 229 702 4 231 757 323 201
Services 2 040 180 64 53 35 - -
Net unallocated
interest 104 - (10 457) - - -
Group and
unallocated
items (255) (700) 17 (48) 102 - -
BHP Group 19 287 3 846 2 203 9 808 2 687 605 477
(1) Sales revenues do not add to the BHP Group figure due to intersegment
transactions.
(2) EBITDA is earnings before borrowing costs, tax and depreciation and
amortisation.
(3) Excludes capitalised interest and capitalised exploration.
(4) Includes capitalised exploration: Minerals $6 million and Petroleum $128
million.
(5) Includes $6 million Petroleum exploration expenditure previously
capitalised, now written off.
(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 operating, which was closed
in April 1999, and Hartley Platinum mine where operations have been suspended
pending conditional sale.
(10) Includes the Long Products business (oneSteel), Newcastle primary
steelmaking operations, US steel assets, and strip casting assets.
(11)Petroleum sales revenue includes: Crude oil $1,421 million, Natural Gas $499
million, LNG $319 million, LPG $165 million and Other $436 million.
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