- Record underlying EBITDA* of $11,408 million, 73 per cent above first half 2007.
- Record underlying earnings* of $5,474 million, 55 per cent above first half 2007.
- Record net earnings* of $6,914 million, 113 per cent above first half 2007.
- Cash flow from operations up 54 per cent to a record of $8,860 million - a run rate of approximately $1.5 billion of cash flow per month.
- Half year production records achieved in iron ore, bauxite, alumina, aluminium, borates, titanium dioxide and thermal coal (on a like for like basis).
- Record capital expenditure of $3.7 billion, 91 per cent higher than first half 2007, on investments in value adding growth projects.
- New capital commitments of over $6 billion (100 per cent basis) announced during the year, including substantial expansions of iron ore operations in Australia, Brazil and Canada.
Rio Tinto Alcan integration is making good progress, and remains on track to deliver $1.1 billion of after tax synergies from the end of 2009.
Interim dividend increased 31 per cent to 68 US cents, with a continued commitment to increase the total 2008 and 2009 dividends by at least 20 per cent in each year.
The divestment programme made good progress with $3 billion of sales announced to date. The Group remains on track to announce $10 billion of divestments in 2008.
Six months to 30 June
(All dollars are US$ millions unless otherwise stated)
2008 2007 Chang Underlying EBITDA* 11,408 6,613 +73%
Underlying earnings* 5,474 3,529 +55%
Net earnings* 6,914 3,253 +113%
Cash flow from operations
(incl. dividends from equity
accounted units) 8,860 5,739 +54%
Underlying earnings per share
- US cents 426.5 272.6 +56%
Earnings per share
- US cents 538.7 251.3 +114%
Ordinary interim dividends
per share - US cents 68.0 52.0 +31%
*Net earnings and underlying earnings relate to profit attributable to equity shareholders of Rio Tinto.
Underlying earnings is defined and reconciled to net earnings on page 29. EBITDA is defined on page 39.
Underlying EBITDA excludes the same items that are excluded from underlying earnings. |
