BHP Group reports FY23 underlying EBITDA $28.0B vs. $40.6B last year

Reports FY23 revenue $53.8B vs. $65.1B last year. The company states: “BHP‘s revenue decreased by US$11.3 bn primarily as a result of significantly lower prices across iron ore, metallurgical coal, and copper.” CEO Mike Henry states: “Commodity demand has remained relatively robust in China and India even as developed world economies have slowed substantially. In the near term, China’s trajectory is contingent on the effectiveness of recent policy measures. We expect buoyant growth in India with strong construction activity underpinning an expansion in steelmaking capacity. More broadly, there is increased recognition of the importance of critical minerals and strategies across the globe to incentivise investment in supply and demand, which provides opportunities and challenges.”