• Highly attractive commodities, growing value through operational excellence, disciplined capital allocation and distinctive social value
• Consistent net operating cash flow, highest margins, and strong balance sheet
• Achieved FY25 production guidance, records in iron ore and copper, and another year of sector-leading margins and strong cash flow

BHP Group Limited has reported its FY2025 results, showcasing a year of continued operational excellence, record production, and solid financial performance. The company's strategy of focusing on highly attractive commodities, operational excellence, disciplined capital allocation, and distinctive social value has enabled it to deliver consistent net operating cash flow, highest margins, and a strong balance sheet. In FY2025, BHP achieved its production guidance, with records in iron ore and copper. The company's Western Australia Iron Ore (WAIO) business produced 290 Mt (100%), overcoming cyclone and storm impacts in Q3 FY25. Escondida achieved its highest production in 17 years, and Spence had record production. BMA production was up 5% (excluding Blackwater and Daunia), and raw coal inventory was up 12%. The company's operational excellence, enabled by the BHP Operating System (BOS), has consistently delivered, with FY25 unit costs around 4.7% lower across the major assets.Financially, BHP reported an Underlying EBITDA of US$26.0 billion, with an Underlying EBITDA margin of 53% and a Return on Capital Employed (ROCE) of 20.6%. The company's Underlying profit was US$10.2 billion, and it generated net operating cash flow of US$18.7 billion. BHP has also taken a disciplined and targeted approach to capital allocation, with a focus on capital efficiency and project excellence.Looking ahead, BHP continues to leverage its strong balance sheet to fund attractive and high-quality organic growth, including the Jansen Stage 1 and 2 projects, the Escondida growth program, and Copper South Australia growth projects. The company is also optimizing its capital expenditure profile, with a reduction of around US$1 billion per annum in the medium term.

BHP expects to achieve attributable copper production of around 2.0 Mt by the mid-2030s and planned potash production of 8.5 Mt by FY33-FY34. The company's attributable copper equivalent growth is expected to have a compound annual growth rate of around 2.6% from FY30 to FY35.