MORE: BHP Cuts FY16 Capex Target to $8.5b; FY15 Profit Misses
2015-08-25 06:40:54.721 GMT
By Michael Sin and Tim Smith
(Bloomberg) -- Sees FY16 capex $8.5b vs May forecast $9b;
targets FY17 capex $7b.
* China steel demand to peak at 935m-985m tons in mid-2020s
* Sees ongoing economic reforms in China to contribute to
periods of market volatility
* Mkt conditions will favor “low-cost producers” with
economies of scale
* Sees FY16 total iron ore output 247m tons, petroleum output
237 Mmboe
* Sees FY16 coal output 40Mt
* FY net $1.91b; net income GAAP est. $2.35b (7 analysts,
range $1.6b-$3.55b)
* $2b impairment from U.S. onshore assets
* Underlying attributable profit $6.4b; est. $7.5b (22
analysts)
* Attributable profit ex-items $7.1b, down 47% y/y
* Sales $44.64b; est. $54.11b (14 analysts)
* Final div. $0.62; BDVD est. $0.62
* Underlying Ebit $11.87b; est. $14.24b (9 analysts)
* Underlying Ebitda $21.85b; est. $23.82b (15 analysts)
* FY15 capex $11b vs Feb. forecast $12.6b
* Net oper. cash flow $17.79b, down 25% y/y
* Conf. call: 6pm Sydney time/9am London time; webcast
* NOTE: 11 buys, 10 holds, 2 sells; avg PT A$29.47: Bloomberg
data
Statement (subscription required); preview; earlier story
Related stories:
* Aug. 24: South32 FY Earnings Jump 41% on Aluminum, Alumina
* July 30: Iron Back in Bull Market as Forrest Dismisses
Armageddon Prices
* July 22: BHP Sees Higher Ore Output in FY16; Petroleum,
Copper Drop
* July 15: BHP Takes $2.8b Writedown on U.S. Shale Gas Assets
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Tim Smith in Sydney at +61-2-9777-8678 or
tsmith58@bloomberg.net
To contact the editors responsible for this story:
Jan Dahinten at +65-6212-1164 or
jdahinten@bloomberg.net
Michael Sin
2015-08-25 06:40:54.721 GMT
By Michael Sin and Tim Smith
(Bloomberg) -- Sees FY16 capex $8.5b vs May forecast $9b;
targets FY17 capex $7b.
* China steel demand to peak at 935m-985m tons in mid-2020s
* Sees ongoing economic reforms in China to contribute to
periods of market volatility
* Mkt conditions will favor “low-cost producers” with
economies of scale
* Sees FY16 total iron ore output 247m tons, petroleum output
237 Mmboe
* Sees FY16 coal output 40Mt
* FY net $1.91b; net income GAAP est. $2.35b (7 analysts,
range $1.6b-$3.55b)
* $2b impairment from U.S. onshore assets
* Underlying attributable profit $6.4b; est. $7.5b (22
analysts)
* Attributable profit ex-items $7.1b, down 47% y/y
* Sales $44.64b; est. $54.11b (14 analysts)
* Final div. $0.62; BDVD est. $0.62
* Underlying Ebit $11.87b; est. $14.24b (9 analysts)
* Underlying Ebitda $21.85b; est. $23.82b (15 analysts)
* FY15 capex $11b vs Feb. forecast $12.6b
* Net oper. cash flow $17.79b, down 25% y/y
* Conf. call: 6pm Sydney time/9am London time; webcast
* NOTE: 11 buys, 10 holds, 2 sells; avg PT A$29.47: Bloomberg
data
Statement (subscription required); preview; earlier story
Related stories:
* Aug. 24: South32 FY Earnings Jump 41% on Aluminum, Alumina
* July 30: Iron Back in Bull Market as Forrest Dismisses
Armageddon Prices
* July 22: BHP Sees Higher Ore Output in FY16; Petroleum,
Copper Drop
* July 15: BHP Takes $2.8b Writedown on U.S. Shale Gas Assets
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Tim Smith in Sydney at +61-2-9777-8678 or
tsmith58@bloomberg.net
To contact the editors responsible for this story:
Jan Dahinten at +65-6212-1164 or
jdahinten@bloomberg.net
Michael Sin