BHP underlying profit down 23% on lower metals demand – and dividend follows

BHP Group Ltd (ASX:BHP) has reported a lower-than-expected underlying profit for the first half of the 2025 fiscal year, with this coming in at US$5.1 billion – a fall of 23% compared to the first half of FY24.

Earnings and revenue were also lower, with underlying EBITDA (earnings before interest, taxes, depreciation and amortization) being US$12.4 billion for the period (down 11% from US$13.9B in HY24).

Revenue had fallen 8% (to US$25.2 billion), with BHP explaining that this was due to falls in realised iron ore and steelmaking coal prices, although it was partially offset by higher realised copper prices.

BHP also reported an interim dividend of US$0.50 per share (these are fully franked) – its lowest in eight years.

The mining giant explained that the 2024 calendar year had been one in which weak demand for commodities in the developed world had been a notable trend, and while trade tensions could continue to provide headwinds, rate-cut regimes from several central banks could help stage a recovery, particularly for steel and copper demand across the OECD.

BHP has been trading at $40.80.

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