Rio Tinto Limited (ASX: RIO) Remains Profitable While Accelerating Growth
Team Veye | 31-Jul-2024
Driven by disciplined investments, Rio Tinto Limited is strengthening its operations and progressing with major projects, transforming Rio Tinto into an even stronger company.
The company’s overall copper equivalent production continues to be on track to grow by around 2% this year (H1 2024 to H1 2023). Underpinned by its continued operational progress, Rio aims to deliver around 3% of compound annual growth from 2024 to 2028 from projects already under execution.
Delivering consistent, stable financial performance, it reported an underlying EBITDA of $12.1 billion and interim ordinary dividend of 177 US cents per share. Supported by strong balance sheet it continues to maintain its practice of a 50% interim payout with a $2.9 billion ordinary dividend.
Reporting free cash flow of $2.8 billion, as it continues to invest in growth, and underlying earnings of $5.8 billion, after taxes and government royalties of $4.4 billion.
Rio Tinto is at a turning point in its growth, with a significant change from its aluminium business and consistent production at its Pilbara iron ore operations.
Source: Company's Report
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