Corporate

7 August 2002, Annual Earnings Report as at 30 June 2002

7 August 2002, Annual Earnings Report as at June 30 (size: 271Kb, PDF document)

BHP Steel Limited (now known as BlueScope Steel) legally separated from the BHP Billiton Group on 22 July 2002, having listed on the Australian Stock Exchange on 15 July 2002.

As at 30 June 2002, BHP Steel was a business unit of the BHP Billiton Group and accordingly its 2002 and comparative financial results will be reflected in the BHP Billiton combined group results which were released to the market today, 7 August 2002. 

However, the steel segment reported by the BHP Billiton Group is not reflective of BHP Steel’s results as the steel segment is reported under UK GAAP, in US dollars and contains results for discontinued steel operations not forming part of BHP Steel Limited.

In the interest of assisting investors and other stakeholders in understanding BHP Steel’s results, the BHP Steel Board and senior management have decided to provide the following pro-forma financial information for BHP Steel.

This pro-forma information has been prepared on a basis consistent with pro-forma information presented in the Scheme Booklet and Offer Memorandum dated 13 May 2002. Normalisation adjustments have been made to the financial information to adjust for discontinued activities, to exclude the impact of certain non-recurring items and to reflect the costs of operating as an independent company.

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