BHP H1 EBITDA Rises 25%, Interim Dividend Jumps 46%; Plans $10B Asset Sales
Underlying EBITDA rose 25% with a 58% margin, driving $6.2 billion in attributable profit and a 24% return on capital employed in H1 2026. BHP targets up to $10 billion in asset sales to fund copper expansion and projects $60 billion in free cash flow over the next five years.
1. Strong H1 Financial Performance
Underlying EBITDA grew 25% with a 58% margin, delivering $6.2 billion in attributable profit and a 24% return on capital employed. Group production rose 2%, unit costs improved by 4.5% despite inflation pressures, copper EBITDA reached a record $8 billion at a 66% margin and free cash flow is projected at $60 billion over five years.
2. Interim Dividend and Capital Recycling
The interim dividend was increased by 46% to USD 0.73 per share, underscoring robust cash returns to shareholders. Strategic capital recycling unlocked $6 billion, including a $4.3 billion silver streaming agreement, enhancing funding flexibility for growth and distributions.
3. Asset Sales to Fund Copper Expansion
BHP is targeting up to $10 billion in asset disposals with no set deadline to finance its expansion plans. The company aims to boost copper production by 40% by 2035 through targeted portfolio optimization and strategic divestments.