17th Jul 2013 07:00
17 July 2013 |
To: | Australian Securities Exchange | cc: | New York Stock Exchange |
London Stock Exchange | JSE Limited |
RESTATED SUPPLEMENTARY INFORMATION
As a result of changes to the BHP Billiton management structure announced on 18 April 2013, BHP Billiton will report future segment and supplementary information for the following Business groups:
·; Petroleum and Potash
·; Copper
·; Iron Ore
·; Coal
·; Aluminium, Manganese and Nickel
BHP Billiton today released Supplementary Financial Information for the half year ended 31 December 2012 and the year ended 30 June 2012 restated on this basis.
BHP Billiton's financial results for the 2013 financial year will be reported on 20 August 2013.
Nicola Kleynhans
Deputy Company Secretary
BHP BILLITON REPORT FOR THE HALF YEAR ENDED 31 DECEMBER 2012 AND YEAR ENDED 30 JUNE 2012
SUPPLEMENTARY INFORMATION (RESTATED)
This report presents the Supplementary Financial Information for the half year ended 31 December 2012 (H1 FY13) and the year ended 30 June 2012 (FY12), restated to reflect changes to the BHP Billiton management structure announced on 18 April 2013.
The following notes and definitions are relevant to the table below and those on the following pages:
- Revenue is based on Group realised prices.
- EBIT is Underlying EBIT which is defined as earnings before net finance costs, taxation and any exceptional items.
- EBITDA is EBIT before depreciation, amortisation and impairments.
- Depreciation and amortisation (D&A) includes depreciation, impairments and amortisation.
- Capex includes accrued capital expenditure and excludes capitalised interest and capitalised exploration.
- Net operating assets represent operating assets net of operating liabilities and predominantly exclude cash balances, interest bearing liabilities and deferred tax balances.
BHP BILLITON GROUP
Half year ended 31 December 2012 | ||||||||
US$ million | ||||||||
Revenue (1) | Underlying EBIT (1) | Exceptional items | Profit from operations | Net operating assets | Capex (2) | Exploration gross (3) | Exploration to profit (4) | |
Petroleum and Potash | 6,654 | 3,002 | − | 3,002 | 36,620 | 3,639 | 381 | 446 |
Copper | 6,121 | 1,967 | 336 | 2,303 | 15,383 | 1,097 | 110 | 110 |
Iron Ore | 9,166 | 4,814 | (736) | 4,078 | 21,795 | 3,473 | 129 | 41 |
Coal | 5,396 | 145 | (79) | 66 | 12,648 | 2,021 | 25 | 25 |
Aluminium, Manganese and Nickel | 4,497 | (108) | (3,397) | (3,505) | 9,900 | 434 | 26 | 23 |
Group and unallocated items (5) (6) | 408 | (38) | 1,099 | 1,061 | 692 | 23 | − | − |
Inter-segment adjustment | (38) | − | − | − | − | − | − | − |
BHP Billiton Group | 32,204 | 9,782 | (2,777) | 7,005 | 97,038 | 10,687 | 671 | 645 |
Year ended 30 June 2012 | |||||||||
US$ million | |||||||||
Revenue (1) | Underlying EBIT (1) | Exceptional items | Profit from operations | Net operating assets | Capex (2) | Exploration gross (3) | Exploration to profit (4) | ||
Petroleum and Potash | 12,937 | 6,020 | (2,835) | 3,185 | 33,921 | 6,290 | 1,575 | 1,038 | |
Copper | 11,596 | 3,965 | (360) | 3,605 | 14,011 | 2,650 | 330 | 324 | |
Iron Ore | 22,601 | 14,201 | − | 14,201 | 18,702 | 5,634 | 287 | 135 | |
Coal | 13,598 | 2,797 | 308 | 3,105 | 11,276 | 3,701 | 174 | 174 | |
Aluminium, Manganese and Nickel | 9,911 | (24) | (574) | (598) | 13,138 | 1,783 | 79 | 68 | |
Group and unallocated items (5) (6) | 1,636 | 279 | (25) | 254 | 1,143 | 165 | 7 | 7 | |
Inter-segment adjustment | (53) | − | − | − | − | − | − | − | |
BHP Billiton Group | 72,226 | 27,238 | (3,486) | 23,752 | 92,191 | 20,223 | 2,452 | 1,746 | |
(1) Total third party revenue for the Group is US$1,469 million and EBIT is US$59 million at 31 December 2012 (30 June 2012: US$3,479 million and US$126 million).
(2) Capex in aggregate comprises US$9,323 million growth and US$1,364 million other at 31 December 2012 (30 June 2012: US$17,735 million growth and US$2,488 million other).
(3) Includes US$123 million capitalised exploration at 31 December 2012 (30 June 2012: US$850 million).
(4) Includes US$97 million exploration expenditure previously capitalised, written off as impaired (included in depreciation and amortisation) at 31 December 2012 (30 June 2012: US$144 million).
(5) Includes consolidation adjustments, unallocated items and external sales of freight and fuel via the Group's transport and logistics operations.
(6) Includes the Group's diamonds business (divested effective 10 April 2013), interest in titanium minerals (divested effective 3 September 2012) and non-Potash corporate costs incurred by the former Diamonds and Specialty Products business.
PETROLEUM AND POTASH
Half year ended 31 December 2012 |
| ||||||||
US$ million | |||||||||
Revenue (1) | Underlying EBITDA | D&A | Underying EBIT | Net operating assets | Capex (2) | Exploration gross (3) | Exploration to profit (4) |
| |
Bass Strait | 1,033 | 851 | 64 | 787 | 2,627 | 267 |
| ||
North West Shelf | 1,375 | 1,034 | 131 | 903 | 2,091 | 146 |
| ||
Atlantis | 411 | 331 | 63 | 268 | 1,494 | 207 |
| ||
Shenzi | 837 | 771 | 157 | 614 | 1,485 | 58 |
| ||
Mad Dog | 132 | 120 | 6 | 114 | 336 | 69 |
| ||
Onshore US (5) | 1,323 | 663 | 810 | (147) | 24,587 | 2,071 |
| ||
ROD & Ohanet (6) | 267 | 216 | 9 | 207 | 150 | 10 |
| ||
Liverpool Bay & Bruce / Keith | 119 | 50 | 14 | 36 | (48) | 4 |
| ||
Exploration | − | (276) | 131 | (407) | 769 | − |
| ||
Other (7) (8) | 1,112 | 980 | 198 | 782 | 1,629 | 426 |
| ||
Total Petroleum | 6,609 | 4,740 | 1,583 | 3,157 | 35,120 | 3,258 | 308 | 373 |
|
Potash | − | (154) | 5 | (159) | 1,500 | 381 |
| ||
Total Potash | − | (154) | 5 | (159) | 1,500 | 381 | 73 | 73 |
|
Total Petroleum and Potash from |
| ||||||||
Group production | 6,609 | 4,586 | 1,588 | 2,998 | 36,620 | 3,639 |
| ||
Third party products | 45 | 4 | − | 4 | − | − |
| ||
Total Petroleum and Potash | 6,654 | 4,590 | 1,588 | 3,002 | 36,620 | 3,639 | 381 | 446 |
|
Year ended 30 June 2012 |
| |||||||||
US$ million | ||||||||||
Revenue (1) | Underlying EBITDA | D&A | Underlying EBIT | Net operating assets | Capex (2) | Exploration gross (3) | Exploration to profit (4) |
| ||
Bass Strait | 1,950 | 1,560 | 110 | 1,450 | 2,362 | 699 |
| |||
North West Shelf | 2,375 | 1,819 | 211 | 1,608 | 1,700 | 278 |
| |||
Atlantis | 769 | 638 | 146 | 492 | 1,515 | 298 |
| |||
Shenzi | 1,767 | 1,650 | 333 | 1,317 | 1,463 | 343 |
| |||
Mad Dog | − | (28) | 9 | (37) | 380 | 105 |
| |||
Onshore US (5) | 2,169 | 1,300 | 1,440 | (140) | 22,517 | 3,293 |
| |||
ROD & Ohanet (6) | 635 | 560 | 52 | 508 | 66 | 24 |
| |||
Liverpool Bay & Bruce / Keith | 322 | 223 | 35 | 188 | (6) | 12 |
| |||
Exploration | − | (636) | 188 | (824) | 780 | − |
| |||
Other (7) (8) (9) | 2,720 | 2,326 | 543 | 1,783 | 1,921 | 778 |
| |||
Total Petroleum | 12,707 | 9,412 | 3,067 | 6,345 | 32,698 | 5,830 | 1,355 | 818 |
| |
Potash | − | (328) | − | (328) | 1,223 | 460 |
| |||
Total Potash | − | (328) | − | (328) | 1,223 | 460 | 220 | 220 |
| |
Total Petroleum and Potash from |
| |||||||||
Group production | 12,707 | 9,084 | 3,067 | 6,017 | 33,921 | 6,290 |
| |||
Third party products | 230 | 3 | − | 3 | − | − |
| |||
Total Petroleum and Potash | 12,937 | 9,087 | 3,067 | 6,020 | 33,921 | 6,290 | 1,575 | 1,038 |
| |
(1) Petroleum revenue from Group production at 31 December 2012 includes: crude oil US$3,746 million (30 June 2012: US$7,804 million), natural gas US$1,396 million (30 June 2012: US$2,426 million), LNG US$907 million (30 June 2012: US$1,483 million), NGL US$403 million (30 June 2012: US$780 million) and other US$157 million (30 June 2012: US$214 million).
(2) Capex in aggregate at 31 December 2012 comprises Petroleum US$3,193 million growth and US$65 million other (30 June 2012: US$5,709 million growth and US$121 million other) and Potash US$381 million growth and US$nil million other (30 June 2012: US$460 million growth and US$nil million other).
(3) Includes US$32 million of Petroleum capitalised exploration at 31 December 2012 (30 June 2012: US$681 million).
(4) Includes US$97 million of Petroleum exploration expenditure previously capitalised, written off as impaired (included in depreciation & amortisation) at 31 December 2012 (30 June 2012: US$144 million).
(5) Includes Petrohawk Energy Corporation (acquired on 20 August 2011). The year ended June 2012 included a gain on hedging activity of US$192 million.
(6) The Ohanet Risk Sharing Contract expired in October 2011.
(7) Includes the following fields - Pyrenees, Stybarrow, Neptune, Minerva, Angostura, West Cameron 76, Genesis, Starlifter and Pakistan. West Cameron 76 and Starlifter were divested in May 2012.
(8) Includes an unrealised loss of US$9 million related to Angostura embedded derivative at 31 December 2012 (30 June 2012: US$99 million gain).
(9) Post-closing payment of US$100 million received in December 2011 relating to the 2006 divestment of BHP Billiton's interest in Cascade and Chinook.
(10) Total barrels of oil equivalent (million) based on a conversion rate of 6 billion standard cubic feet of gas per million barrels of oil equivalent.
Production | H1 FY13 | FY12 | |||
Crude oil and condensate (million barrels of oil equivalent) | 37.3 | 71.2 | |||
Natural gas (bcf) | 452.5 | 822.3 | |||
NGL (million barrels of oil equivalent) | 8.5 | 14.1 | |||
Total Petroleum products (million boe) (10) | 121.2 | 222.3 | |||
COPPER
Half year ended 31 December 2012 | |||||||||
US$ million | |||||||||
Revenue | Underlying EBITDA | D&A | Underlying EBIT | Net operating assets | Capex (1) | Exploration gross (2) | Exploration to profit | ||
Escondida | 2,558 | 1,476 | 142 | 1,334 | 5,591 | 516 | |||
Pampa Norte (3) | 854 | 307 | 103 | 204 | 2,516 | 64 | |||
Antamina | 795 | 526 | 42 | 484 | 1,222 | 121 | |||
Cannington | 716 | 334 | 17 | 317 | 240 | 10 | |||
Olympic Dam | 859 | 53 | 119 | (66) | 6,564 | 161 | |||
Other (4) | 20 | (303) | 3 | (306) | (750) | 225 | |||
Total Copper from Group production | 5,802 | 2,393 | 426 | 1,967 | 15,383 | 1,097 | |||
Third party products | 319 | − | − | − | − | − | |||
Total Copper | 6,121 | 2,393 | 426 | 1,967 | 15,383 | 1,097 | 110 | 110 | |
Year ended 30 June 2012 |
| |||||||
US$ million | ||||||||
Revenue | Underlying EBITDA | D&A | Underlying EBIT | Net operating assets | Capex (1) | Exploration gross (2) | Exploration to profit | |
Escondida | 4,002 | 2,101 | 273 | 1,828 | 4,792 | 1,173 | ||
Pampa Norte (3) | 2,152 | 1,037 | 200 | 837 | 2,332 | 242 | ||
Antamina | 1,229 | 824 | 40 | 784 | 1,088 | 256 | ||
Cannington | 1,590 | 908 | 53 | 855 | 194 | 96 | ||
Olympic Dam | 2,146 | 434 | 220 | 214 | 6,404 | 394 | ||
Other (4) | 43 | (600) | (64) | (536) | (799) | 489 | ||
Total Copper from Group production | 11,162 | 4,704 | 722 | 3,982 | 14,011 | 2,650 | ||
Third party products | 434 | (17) | − | (17) | − | − | ||
Total Copper | 11,596 | 4,687 | 722 | 3,965 | 14,011 | 2,650 | 330 | 324 |
(1) Capex in aggregate comprises US$807 million growth and US$290 million other at 31 December 2012 (30 June 2012: US$2,010 million growth and US$640 million other).
(2) Includes US$nil million capitalised exploration at 31 December 2012 (30 June 2012: US$6 million).
(3) Includes Spence and Cerro Colorado.
(4) Includes Pinto Valley, exploration, business development and closed mining and smelting operations. Depreciation and amortisation charge includes impairment reversals of US$nil million relating to Pinto Valley at 31 December 2012 (30 June 2012: US$71 million).
Production | H1 FY13 | FY12 | ||
Payable copper in concentrate ('000 tonnes) | 302.2 | 460.8 | ||
Copper cathode ('000 tonnes) | 266.9 | 633.7 | ||
Uranium oxide concentrate (tonnes) | 2,056 | 3,885 | ||
Gold - payable ('000 ounces) | 67.5 | 168.7 | ||
Silver - payable ('000 ounces) | 17,654 | 41,308 | ||
Lead - payable ('000 tonnes) | 98.3 | 239.9 | ||
Zinc - payable ('000 tonnes) | 52.1 | 112.2 | ||
IRON ORE
Half year ended 31 December 2012 |
| ||||||||
US$ million | |||||||||
Revenue (1) | Underlying EBITDA | D&A | Underlying EBIT | Net operating assets | Capex (2) | Exploration gross (3) | Exploration to profit |
| |
Western Australia Iron Ore | 8,309 | 4,901 | 409 | 4,492 | 19,615 | 3,005 |
| ||
Samarco | 792 | 390 | 30 | 360 | 2,183 | 468 |
| ||
Other (4) | − | (52) | − | (52) | (3) | − |
| ||
Total Iron Ore from Group production | 9,101 | 5,239 | 439 | 4,800 | 21,795 | 3,473 |
| ||
Third party products (5) | 65 | 14 | − | 14 | − | − |
| ||
Total Iron Ore | 9,166 | 5,253 | 439 | 4,814 | 21,795 | 3,473 | 129 | 41 |
|
Year ended 30 June 2012 | |||||||||
US$ million | |||||||||
Revenue (1) | Underlying EBITDA | D&A | Underlying EBIT | Net operating assets | Capex (2) | Exploration Gross (3) | Exploration to profit | ||
Western Australia Iron Ore | 20,480 | 14,025 | 763 | 13,262 | 16,994 | 4,974 | |||
Samarco | 1,996 | 1,106 | 55 | 1,051 | 1,788 | 602 | |||
Other (4) | − | (135) | 8 | (143) | (80) | 58 | |||
Total Iron Ore from Group production | 22,476 | 14,996 | 826 | 14,170 | 18,702 | 5,634 | |||
Third party products (5) | 125 | 31 | − | 31 | − | − | |||
Total Iron Ore | 22,601 | 15,027 | 826 | 14,201 | 18,702 | 5,634 | 287 | 135 | |
(1) Includes inter-segment revenue of US$29 million at 31 December 2012 (30 June 2012: US$39 million).
(2) Capex in aggregate comprises US$3,331 million growth and US$142 million other at 31 December 2012 (30 June 2012: US$5,584 million growth and US$50 million other).
(3) Includes US$88 million capitalised exploration at 31 December 2012 (30 June 2012: US$152 million).
(4) Includes Boodarie Iron which ceased operations in August 2005.
(5) Includes Boodarie Iron sales of contracted gas purchases and US$6 million mark to market gain on an embedded derivative at 31 December 2012 (30 June 2012: US$27 million gain).
Production | H1 FY13 | FY12 | ||
Iron ore (million tonnes) | 82.0 | 159.5 |
COAL
Half year ended 31 December 2012 |
| ||||||||
US$ million | |||||||||
Revenue | Underlying EBITDA | D&A | Underlying EBIT | Net operating assets | Capex (1) | Exploration gross | Exploration to profit | ||
Queensland Coal | 2,125 | 78 | 166 | (88) | 6,807 | 1,355 | |||
Illawarra | 692 | 115 | 72 | 43 | 1,087 | 185 | |||
South Africa Coal | 770 | 98 | 106 | (8) | 1,407 | 50 | |||
New Mexico | 303 | 46 | 23 | 23 | 203 | 16 | |||
New South Wales Energy Coal | 758 | 132 | 56 | 76 | 2,047 | 229 | |||
Colombia | 455 | 178 | 31 | 147 | 1,006 | 140 | |||
Other | − | (66) | − | (66) | 91 | 46 | |||
Total Coal from Group production | 5,103 | 581 | 454 | 127 | 12,648 | 2,021 | |||
Third party products | 293 | 18 | − | 18 | − | − | |||
Total Coal | 5,396 | 599 | 454 | 145 | 12,648 | 2,021 | 25 | 25 | |
Year ended 30 June 2012 | ||||||||
US$ million | ||||||||
Revenue | Underlying EBITDA | D&A | Underlying EBIT | Net operating assets | Capex (1) | Exploration gross | Exploration to profit | |
Queensland Coal | 5,875 | 1,480 | 260 | 1,220 | 5,787 | 2,465 | ||
Illawarra | 1,701 | 826 | 159 | 667 | 1,058 | 316 | ||
South Africa Coal | 1,894 | 468 | 190 | 278 | 1,425 | 162 | ||
New Mexico | 587 | 36 | 45 | (9) | 169 | 40 | ||
New South Wales Energy Coal | 1,599 | 538 | 80 | 458 | 1,974 | 565 | ||
Colombia | 1,086 | 537 | 59 | 478 | 904 | 126 | ||
Other | − | (383) | 2 | (385) | (14) | 27 | ||
Total Coal from Group production | 12,742 | 3,502 | 795 | 2,707 | 11,303 | 3,701 | ||
Third party products | 856 | 90 | − | 90 | (27) | − | ||
Total Coal | 13,598 | 3,592 | 795 | 2,797 | 11,276 | 3,701 | 174 | 174 |
(1) Capex in aggregate comprises US$1,471 million growth and US$550 million other at 31 December 2012 (30 June 2012: US$2,668 million growth and US$1,033 million other).
Production | H1 FY13 | FY12 | |||
Metallurgical coal (million tonnes) | 17.8 | 33.2 | |||
Energy coal (million tonnes) | 37.9 | 71.1 |
ALUMINIUM, MANGANESE AND NICKEL
Half year ended 31 December 2012 |
| |||||||
US$ million | ||||||||
Revenue (1) | Underlying EBITDA | D&A | Underlying EBIT | Net operating assets | Capex (2) (3) | Exploration gross (4) | Exploration to profit | |
Alumina | 649 | 14 | 143 | (129) | 3,967 | 47 | ||
Aluminium | 1,274 | 25 | 64 | (39) | 2,349 | 10 | ||
Intra-divisional adjustment | (289) | − | − | − | − | − | ||
1,634 | 39 | 207 | (168) | 6,316 | 57 | |||
Manganese | 977 | 225 | 48 | 177 | 1,684 | 182 | ||
Nickel West | 782 | (60) | 145 | (205) | 910 | 165 | ||
Cerro Matoso | 407 | 125 | 39 | 86 | 984 | 26 | ||
Other | − | (20) | − | (20) | 6 | 4 | ||
Total Aluminium, Manganese and Nickel | ||||||||
from Group production | 3,800 | 309 | 439 | (130) | 9,900 | 434 | ||
Third party products | 697 | 22 | − | 22 | − | − | ||
Total Aluminium, Manganese and Nickel | 4,497 | 331 | 439 | (108) | 9,900 | 434 | 26 | 23 |
Year ended 30 June 2012 |
| ||||||||
US$ million | |||||||||
Revenue (1) | Underlying EBITDA | D&A | Underlying EBIT | Net operating assets | Capex (2) (3) | Exploration gross (4) | Exploration to profit | ||
Alumina | 1,277 | (14) | 190 | (204) | 6,187 | 827 | |||
Aluminium | 2,638 | 38 | 126 | (88) | 2,373 | 25 | |||
Intra-divisional adjustment | (636) | − | − | − | − | − | |||
3,279 | 24 | 316 | (292) | 8,560 | 852 | ||||
Manganese | 2,136 | 355 | 124 | 231 | 1,456 | 418 | |||
Nickel West | 2,043 | 83 | 312 | (229) | 1,956 | 337 | |||
Cerro Matoso | 876 | 414 | 80 | 334 | 1,002 | 105 | |||
Other | − | (86) | 1 | (87) | 164 | 71 | |||
Total Aluminium, Manganese and Nickel | |||||||||
from Group production | 8,334 | 790 | 833 | (43) | 13,138 | 1,783 | |||
Third party products | 1,577 | 19 | − | 19 | − | − | |||
Total Aluminium, Manganese and Nickel | 9,911 | 809 | 833 | (24) | 13,138 | 1,783 | 79 | 68 | |
(1) Nickel includes inter-segment revenue of US$9 million at 31 December 2012 (30 June 2012: US$14 million).
(2) Capex in aggregate comprises US$110 million growth and US$324 million other at 31 December 2012 (30 June 2012: US$1,182 million growth and US$601 million other).
(3) Capex includes US$4 million of expenditure in relation to centralising offices at 31 December 2012 (30 June 2012: US$71 million).
(4) Includes US$3 million capitalised exploration at 31 December 2012 (30 June 2012: US$11 million).
Production | H1 FY13 | FY12 | |||
Alumina ('000 tonnes) | 2,402 | 4,152 | |||
Aluminium ('000 tonnes) | 567 | 1,153 | |||
Manganese ore ('000 tonnes) | 4,263 | 7,931 | |||
Manganese alloy ('000 tonnes) | 283 | 602 | |||
Nickel ('000 tonnes) | 71.7 | 157.9 |
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