{
  "id": 1606051,
  "title": "BHP FY26 slides: copper drives record margins, 50% growth targeted",
  "url": "https://urgent.news/2026/08/18/bhp-fy26-slides-copper-drives-record-margins-50-growth-targeted",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-18T01:30:39.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/company-news/bhp-fy26-slides-copper-drives-record-margins-50-growth-targeted-93CH-4864177"
  },
  "original_language": "en",
  "account": "BHP released its full-year 2026 financial results on August 18, 2026, highlighting a significant transformation in its mining operations. The presentation, led by CEO Brandon Craig and CFO Vandita Pant, underscored strong performance fueled by operational efficiency and outlined a target of a 50% increase in copper production by the mid-2030s. BHP's shares gained 1.83% in regular trading, followed by an additional 3.32% in after-hours trading, bringing the price near the top of its 52-week range. The company reported underlying EBITDA of US$32.9 billion, a 27% year-over-year increase, with an EBITDA margin of 59%, marking a 6 percentage point improvement. Copper emerged as the key earnings driver, contributing 54% of Group EBITDA at a 70% margin, marking the first time copper surpassed half of the company's annual EBITDA. Return on capital employed reached 26%, up from the previous year, and net operating cash flow increased by 17% to US$21.8 billion. The company maintained financial strength with net debt of US$8.7 billion, representing approximately 0.3 times net debt to last twelve months EBITDA. BHP announced a dividend payout of US$8.7 billion for the year, which amounted to 172 cents per share and a 66% payout ratio. The EBITDA improvement of US$6.9 billion was driven by favorable external conditions, particularly commodity prices, as well as strong operational execution. Copper accounted for 1,953 kilotons, up 3% year-over-year, with the segment's 70% EBITDA margin significantly outperforming other commodities and positioning BHP as a low-cost producer. The company set an aspirational target of a 5% annual copper-equivalent production CAGR through FY35, aiming for approximately 2.5 million tons per annum by the mid-2030s.",
  "summary": null,
  "key_points": [
    "BHP reports 27% YoY increase in underlying EBITDA to US$32.9 billion",
    "Copper contributes 54% of Group EBITDA at 70% margin, surpassing half of annual EBITDA",
    "Target of 50% copper production growth by mid-2030s"
  ],
  "editors_take": "BHP's record margins driven by copper's strong performance mark a significant transformation in its mining operations, positioning it as a low-cost producer with growth targeted through increased copper production.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}