Van AalstCimbriaTelestackGeneva DryTMS Awards 2023Sailors Society
  • Vigan
  • Geneva Dry
  • TMS Awards 2023
  • Port of South Louisiana
  • Cimbria
  • Port of Stockton

Rio Tinto’s strong results

Rio Tinto’s strong results

(Posted on 28/02/20)

Rio Tinto has announced full-year ordinary dividend of $6.2 billion (382 US cents per share), including record final ordinary dividend of $3.7 billion (231 US cents per share), resulting in total cash returns of $7.2 billion (443 US cents per share)

Rio Tinto Chief Executive J-S Jacques said “We have again delivered strong financial results with underlying EBITDA of $21.2 billion, underlying EBITDA margin of 47% and return on capital employed of 24%. This performance allows us to return a record final ordinary dividend of $3.7 billion, resulting in a full-year ordinary dividend of $6.2 billion and total cash returns of $7.2 billion.

“In line with our disciplined approach to capital allocation, we invested $2.6 billion in development projects, including high-return iron ore and copper. Longer term, our $624 million exploration and evaluation expenditure in 2019 adds to our pipeline of attractive options.

"Our world-class portfolio and strong balance sheet serve us well in all market conditions, and are particularly valuable in the current volatile environment. We are closely monitoring the impact of the Covid-19 virus and are prepared for some short-term impacts, such as supply-chain issues. Our products are currently reaching our customers.

"Our resilience and value over volume strategy mean we can invest in our business and deliver superior returns to shareholders in the short, medium and long term."

“Our financial results are prepared in accordance with International Financial Reporting Standards (IFRS).

  • Strong safety performance in 2019, with no fatalities and a slightly improved all injury frequency rate, coming from a strong base. Continued improvement in prevention of catastrophic events through a step-change in process safety management.
  • $14.9 billion operating cash flow was 26% higher than 2018 and $9.2 billion free cash flow2 was 31% higher than 2018. Both are presented after $0.9 billion tax paid in 2019 relating to the 2018 coking coal disposals.
  • $5.5 billion capital expenditure1 was consistent with 2018. In late 2019, we announced the approval of two further investments, at Greater Tom Price (iron ore, $0.8 billion) and Kennecott (copper, $1.5 billion).
  • $21.2 billion underlying EBITDA3 was 17% above 2018, primarily driven by higher iron ore prices, with an underlying EBITDA margin7 of 47%.
  • $10.4 billion underlying earnings were 18% above 2018. Taking exclusions into account, net earnings of $8.0 billion were 41% lower than 2018, mainly reflecting $1.7 billion8 of impairments in 2019, primarily the Oyu Tolgoi underground project, consistent with our 2019 interim results, and the Yarwun alumina refinery. This compared with $4.0 billion of gains on disposals in 2018.
  • Strong balance sheet with net debt4 of $3.7 billion, a rise of $3.9 billion, mainly reflected $11.9 billion of cash returns to shareholders in 2019 through dividends and share buy-backs, and a $1.2 billion non-cash increase from the implementation of IFRS 16 "Leases", partly offset by free cash flow of $9.2 billion.
  • $7.2 billion full-year dividend, equivalent to 443 US cents per share and 70% of underlying earnings, includes $3.7 billion record final ordinary dividend (231 US cents per share) declared.”

Latest News

Senate legislation includes phosphate and potash as critical minerals

(Posted on 25/03/24)

The Fertilizer Institute (TFI) has praised the U.S. Senate for introducing bipartisan legislation to... Read more


Agribusiness expert’s legacy and optimism for GrainCorp’s future

(Posted on 18/03/24)

Farmer, Company Director and long-standing member of the GrainCorp Board of Directors, Dan Mangelsdorf... Read more


Research offers Rotterdam guidelines for raw material transition

(Posted on 15/03/24)

Different product processes, non-fossil raw materials and rare materials are crucial for a CO2-neutral... Read more


Bunge Chevron Ag Renewables to build Louisiana processing plant

(Posted on 10/03/24)

Bunge and Chevron have announced approval of a final investment decision for their joint venture Bunge... Read more


Funding to decarbonise iron ore processing in Labrador West

(Posted on 29/02/24)

The Government of Canada HAS awarded C$18.1 million from its Low Carbon Economy Fund to Rio Tinto&rsquo... Read more


Australia’s biggest renewables deal to repower Gladstone aluminium operations

(Posted on 22/02/24)

Rio Tinto has signed Australia’s largest renewable power purchase agreement (PPA) to date to supply... Read more


BHP half year results released

(Posted on 22/02/24)

Mike Henry, Chief Executive Officer, reviewed the Company's operating and financial performance:&ldquo... Read more


Titan Lithium to set up AED 5 Billion processing plant in KEZAD

(Posted on 14/02/24)

Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose... Read more


Australia’s iron ore leaders partner for steel decarbonisation

(Posted on 11/02/24)

Australia’s two largest iron ore producers and its biggest steelmaker have partnered in their... Read more


Lithium market to face transition as demand growth slows

(Posted on 02/02/24)

The lithium market is experiencing a period of transition as demand growth slows and the industry adjusts... Read more


TBA GroupPort of StocktonViganPort of South LouisianaBühler GmbH
  • TBA Group
  • Van Aalst
  • Bühler GmbH

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping