BHP Profit Jumps 30% as Copper Prices Fuel Record Revenue

BHP Group has reported a significant increase in its full-year profit, driven by higher copper prices and stronger cash generation. The company's underlying attributable profit rose to $13.2 billion from $10.2 billion a year earlier.

Revenue climbed 15% to $58.8 billion, with the copper division being a major contributor to the result. Underlying EBITDA from this division increased by 47% to $18.2 billion, with revenue rising to $29 billion due to higher realised copper prices.

However, production of copper fell 3% to 1.95 million tonnes. BHP declared a final dividend of 99 cents per share, taking its full-year payout to 172 cents or $8.7 billion, its highest in four years.

The company expects lower grades at its Escondida mine to weigh on copper production for fiscal 2027, which is forecast at 1.65 million to 1.8 million tonnes. BMA metallurgical coal production is also expected to be lower, with forecasts ranging from 18.5 million to 20.5 million tonnes.

BHP's Jansen Stage 1 potash project in Canada remains on track for first production in mid-2027, with the project now 84% complete.