1st Qtr Results Part 1A of 2

BHP Billiton Limited
7 November 2001

    BHP Billiton Limited is issuing this announcement to fulfil disclosure
 obligations arising from its secondary listing on the London Stock Exchange.

   The text of this release is identical to that issued by BHP Billiton Plc
                                   earlier.

PART 1A OF 2

                                 BHP BILLITON

               RESULTS FOR THE QUARTER ENDED 30 SEPTEMBER 2001



                            Financial Information

Consolidated Financial Results




                                                       Excluding
                                                   exceptional items
                                                  2001   2000   Change
       Quarter ended 30 September                 US$M   US$M        %

       Turnover (including share of joint        4 361  4 578     -4.7
       ventures and associates)                    
       Less: share of joint ventures and          (293)  (239)   -22.0
       associates' turnover                      
       Group turnover                            4 068  4 339     -6.2
                                                  
       Net operating costs (excluding           (2 830)(3 066)     7.7
       depreciation and amortisation)             
       Depreciation and amortisation (b)          (415)  (405)    -2.5
                                                 
       Group operating profit                      823    868     -5.2
       Share of operating profit of joint           71     58
       ventures and associates

       Operating profit (including share of        894    926     -3.5
       profit of joint ventures and associates)
       Income from other fixed asset                 6      7
       investments
       Profit on sale of fixed assets               21     15
       
       Profit before net interest and similar      921    948     -2.8
       items payable, and taxation (EBIT) (a)
       Net interest and similar items payable
       - Group                                     (63)   (76)
                                                  
       - Joint ventures and associates             ( 2)   ( 8)
       Profit before taxation                      856    864     -0.9
       Taxation                                   (237)  (262)     9.5
                                                  
       Profit after taxation                       619    602      2.8
       Equity minority interests                   (11)   (13) 
                                                   
       Attributable profit                         608    589      3.2

       EBITDA ((a) + (b))                        1 336  1 353     -1.3
                                                  

       Dividend per ordinary share (US cents) (1)  6.5

       Quarter earnings per ordinary share                        
       (basic) (US cents) (2)                     10.1   10.2     -1.0
       Quarter earnings per ordinary share                        
       (diluted) (US cents) (3)                   10.1   10.2     -1.0


  (1)  In September 2000, BHP Billiton Limited declared an interim
       dividend of 12.6 Australian cents (unfranked) per fully paid
       ordinary share (after adjusting for bonus isssue). BHP Billiton
       Plc did not declare an interim dividend during the quarter ended
       30 September 2000.

  (2)  Based on attributable profit divided by the weighted average
       number of ordinary shares (ranking for dividend). The
       weighted average number of ordinary shares for the
       quarter ended 30 September 2001 was 6,023,903,553
       (2000: 5,775,061,724). The weighted average number of shares
       used for the purposes of calculating basic earnings per
       share is calculated after deduction of the shares held by the
       share repurchase scheme, the Billiton Employee Share
       Ownership Trust, adjusting for the BHP
       Billiton Limited bonus issue.

  (3)  Based on attributable profit divided by the weighted average
       diluted number of ordinary shares. The weighted average
       diluted number of shares is calculated by adjusting the
       weighted average basic number of shares for the effect of
       options, partly paid shares and the executive share awards
       which are dilutive at 30 September 2001. Performance Rights
       are excluded; these would only be included where an issue of
       new shares is expected to occur.  The weighted average
       diluted number of shares for the quarter ended 30
       September 2001 was 6,038,519,728 (2000: 5,794,272,340).





Customer Sector Group Results - Quarterly Comparison




      BHP BILLITON
         GROUP

      Quarter ended 30
      September 2001                                                            
                                              US$ Million
                          EBIT (2)           EBIT (2)
                        excluding           including
                          except   Excep      excep            Explo     Explo
                           ional  tional     tional            ration    ration 
                                                                             to 
            Turnover (1)  items   items      items   Capex (3) gross (5) profit 
                                                           (4)
Aluminium        698       114       -        114        76        -         -
Base metals      359        51       -         51       185        5         4
Carbon steel     830       292       -        292        40        -         -
materials
Stainless        171       ( 9)      -        ( 9)       22        1         -
steel
materials
Energy coal      538       149       -        149        37        1         -
Exploration,      79        23       -         23        51       12        11
technology
and new
business
Other            344        41       -         41         1        -         -
activities
Petroleum        787       325       -        325       134       74        34
Steel            780        60       -         60         9        -         -
Group and       ( 83)    ( 125)      -      ( 125)       10        -         -
unallocated (6)

BHP Billiton   4 361       921       -        921       565       93        49
Group


      Quarter ended 30
      September 2000
                                      US$ Million
                          EBIT (2)           EBIT (2)
                        excluding           including
                          except   Excep      excep            Explo     Explo
                           ional  tional     tional            ration    ration 
                                                                             to 
            Turnover (1)  items   items      items   Capex (4) gross (5) profit 
                                                           
Aluminium        647        103       -        103        38        -         -
Base metals      468        134       -        134        21        3         2
Carbon steel     749        211       -        211        27        1         1
materials
Stainless        229         33       -         33        59        4         1
steel
materials
Energy coal      439         60       -         60       221        3         1
Exploration,      66         16       -         16         4       13        12
technology
and new
business
Other            134         40       -         40        42        -         -
activities
Petroleum        850        344       -        344       124       46        26
Steel          1 215        138       -        138        18        -         - 
Group and       ( 73)     ( 131)      -      ( 131)       13        -         -
unallocated (6)

BHP Billiton    4578        948       -        948       567       70        43
Group


  (1) Turnover does not add to the BHP Billiton Group figure due to inter-      
      segment transactions.
  (2) EBIT is earnings before net interest and taxation.
  (3) Capex in aggregate comprises US$410 million growth and US$155 million
      sustaining.
  (4) Capex includes capital and investment expenditure and excludes capitalised
      interest and capitalised exploration.
  (5) Includes US$44 million (2000:US$27 million) capitalised exploration.
  (6) Includes consolidation adjustments and unallocated items.




Customer Sector Group Results - Quarterly Comparison



      BHP BILLITON
         GROUP

      Quarter ended 30
      September 2001
                                              US$ Million
                          EBIT (2)           EBIT (2)
                        excluding           including
                          except   Excep      excep            Explo     Explo
                           ional  tional     tional            ration    ration 
                                                                             to 
            Turnover (1)  items   items      items   Capex (3) gross (5) profit 
                                                           (4)               (6)
Aluminium        698        114       -        114         76       -         -
Base metals      359         51       -         51        185       5         4
Carbon steel     830        292       -        292         40       -         -
materials
Stainless        171        ( 9)      -        ( 9)        22       1         -
steel
materials
Energy coal      538        149       -        149         37       1         -
Exploration,      79         23       -         23         51      12        11
technology
and new
business
Other            344         41       -         41          1       -         -
activities
Petroleum        787        325       -        325        134      74        34
Steel            780         60       -         60          9       -         -
Group and       ( 83)     ( 125)      -      ( 125)        10       -         -
unallocated (7)

BHP Billiton   4 361        921       -        921        565      93        49
Group

      Quarter
      ended 30
      June 2001
                          EBIT (2)           EBIT (2)(8)
                        excluding           including
                          except   Excep      excep            Explo     Explo
                           ional  tional     tional            ration    ration 
                                                                             to 
            Turnover (1)  items   items(8)    items   Capex (4) gross (5) profit
                                                                           (6)
Aluminium        904         170      53        223        66       1         1
Base metals      573          89   ( 435)     ( 346)      178       7         6
Carbon steel     912         255     126        381        75       1         1
materials
Stainless        210          17     ( 9)         8        67       1         1
steel
materials
Energy coal      582         116    ( 34)        82       103       1         1
Exploration,      68        ( 32)   ( 13)      ( 45)      389      23        37
technology
and new
business
Other            338          23   ( 114)      ( 91)        3       -         -
activities
Petroleum        775         282       -        282       145      70        46
Steel            867          15    ( 22)       ( 7)       31       -         -
Group and       ( 86)      ( 148)  ( 120)     ( 268)       14       -         -
unallocated (7)

BHP Billiton   5 009         787   ( 568)       219     1 071     104        93
Group


  (1) Turnover does not add to the BHP Billiton Group figure due to
      inter-segment transactions.
  (2) EBIT is earnings before net interest and taxation.
  (3) Capex in aggregate comprises US$410 million growth and US$155 million     
      sustaining.
  (4) Capex includes capital and investment expenditure and excludes capitalised
      interest and capitalised exploration.
  (5) Includes US$44 million (June:US$29 million) capitalised exploration.
  (6) Includes US$nil (June:US$18 million) exploration expenditure
      previously capitalised, now written off.
  (7) Includes consolidation adjustments and unallocated items.
  (8) Certain items have been restated between customer sector groups.





      End of  Part 1A of 2