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NEWS RELEASE Release Time Date Number ● BHP RESULTS FOR THE HALF YEAR ENDED 31 DECEMBER 2020 Note : All guidance is subject to further potential impacts from COVID - 19 during the 2021 financial year . ping our people and communities safe There were no fatalities at our operated assets over the last two years . Our focus on safety , health and wellbeing has enabled us to deliver strong safety and operational performance . Maximise cash flow : Strong operational performance and free cash flow generation , with a margin of 59 % • Strong underlying operational performance , with record production achieved at Western Australia Iron Ore ( WAIO ) and record average concentrator throughput delivered at Escondida . ● ● IMMEDIATE 16 February 2021 02/21 • Attributable profit of US $ 3.9 billion ( includes an exceptional loss of US $ 2.2 billion predominantly related to the impairments of New South Wales Energy Coal ( NSWEC ) and associated deferred tax assets , and Cerrejón ) . Underlying attributable profit of US $ 6.0 billion up 16 % from the prior period . ● Capital discipline : Spence Growth Option delivered on time and budget , and our balance sheet remains strong Capital and exploration expenditure ) of US $ 3.6 billion . Guidance for the 2021 financial year has increased by US $ 0.3 billion to US $ 7.3 billion due to a stronger Australian dollar . Guidance for the 2022 financial year remains unchanged at approximately US $ 8.5 billion ( at guidance exchange rates ) . ● Profit from operations of US $ 9.8 billion , up 17 % . Underlying EBITDA of US $ 14.7 billion at a margin ( ) of 59 % , with full year unit cost guidance unchanged for our major assets ( at guidance exchange rates ( i ) ) . • Our four major projects under development are progressing well , with first production achieved from the Spence Growth Option ( SGO ) on time and budget in December 2020. South Flank is on track to deliver first production by mid - calendar year 2021 , and remains on budget . In petroleum , we completed the acquisition of an additional 28 % interest in Shenzi , a tier one asset with optionality . In exploration , we continue to add to our early stage optionality in future facing commodities , with a signed agreement for nickel exploration in Canada and an Option Agreement for the Elliott Copper Project in Australia . ● Net operating cash flow of US $ 9.4 billion and free cash flow of US $ 5.2 billion reflects higher iron ore and copper prices and strong operational performance . BHP Our balance sheet is strong with net debt of US $ 11.8 billion , following strong free cash flow generation throughout the period . Value and returns : Record half year dividend of US $ 1.01 per share and ROCE up to 24 % The Board has determined to pay an interim dividend of US $ 1.01 per share ( or US $ 5.1 billion ) , equivalent to an 85 % payout ratio on an underlying basis . • The divestment process for our interests in BHP Mitsui Coal ( BMC ) , NSWEC and Cerrejón is progressing , with extensive due diligence being undertaken to assess both demerger and trade sale opportunities . • Underlying return on capital employed strengthened further to 24 % . Half year ended 31 December Profit from operations Attributable profit Basic earnings per share ( cents ) Interim dividend per share ( cents ) Net operating cash flow Capital and exploration expenditure Net debt Underlying EBITDA Underlying attributable profit Underlying basic earnings per share ( cents ) ( i ) 1 2020 US $ M 9,750 3,876 76.6 101.0 9,369 3,614 11,839 14,680 6,036 119.4 2019 US $ M 8,314 4,868 96.3 65.0 7,442 3,795 12,679 12,084 5,186 102.6 Change % 17 % ( 20 % ) ( 20 % ) 55 % 26 % ( 5 % ) ( 7 % ) 21 % 16 % 16 %