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MENAFN - ProactiveInvestors - Australia - 20/02/2013

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(MENAFN - ProactiveInvestors - Australia) BHP Billiton's (ASX: BHP) earnings were driven lower by weaker commodity prices for the half year to December 2012 - when compared to the corresponding period a year earlier.

The company also announced that Marius Kloppers will retire as Chief Executive Officer and a Director of the company on 10 May 2013. Andrew Mackenzie will succeed Kloppers and join the Board on the same day. Kloppers will retire from the Group on 1 October 2013.

Underlying EBITDA fell 29% to US13.2 billion, while the Underlying EBIT was even harder hit - down 38% to US9.8 billion.

The Attributable profit (excluding exceptional items) plunged 43% to US5.7 billion, with the Attributable profit of US4.2 billion including exceptional items of US1.4 billion

Net operating cash flows fell 48% to US6.4 billion. On the plus side the dividend increased 4% to 0.57.


Royalties, taxes and exceptional items

- US6.1 billion paid in the form of federal taxes, state taxes and production royalties.
- Underlying effective tax rate, including royalty related taxation, was 38%.
- We have voluntarily donated 1% (US1 billion) of our pre-tax profit to community programs since FY08.
- RRT and carbon tax in effect from 1 July 2012.
- Exceptional items totalling US1.4 billion reduced Attributable profit to US4.2 billion.

 






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