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
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