Finding better ways to provide the materials the world needs
Purpose & Values
The drive for innovation and continuous improvement is at the heart of our purpose
Business Strategy
Climate change is at the heart of our business strategy
Innovation
Finding better ways to do things is in our DNA
We supply the metals and minerals used to help the world grow and decarbonise
Iron Ore
The primary raw material used to make steel, which is strong, long-lasting and cost-efficient
Lithium
The lightest of all metals, it is a key element needed for low-carbon technologies
Copper
Tough but malleable, corrosion-resistant and recyclable, and an excellent conductor of heat and transmitter of electricity
Bringing to market materials critical to urbanisation and the transition to a low-carbon economy
Oyu Tolgoi
One of the most modern, safe and sustainable operations in the world
Rincon Project
A long-life, low-cost and low-carbon lithium source
Simandou Project
The world’s largest untapped high-grade iron ore deposit
Providing materials the world needs in a responsible way
Climate Change
We’re targeting net zero emissions by 2050
Tailings
Details of our tailings facilities can be found on our interactive tailings disclosure map
Communities
The strength of our relationships with the communities where we operate, and broader society, is fundamental to our business
We aim to deliver superior returns to our shareholders while safeguarding the environment and meeting our obligations to wider society
2024 Half year results
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Things you can't live without
Our podcast discussing what needs to happen to create a sustainable future for the everyday items we have come to rely on
Investment in high integrity ACCUs
While prioritising our decarbonisation programmes, we are investing in high quality carbon credits
Reducing titanium oxide's carbon footprint
Our BlueSmelting technology could drastically reduce carbon emissions during ore processing
Discover more about life at Rio Tinto
Graduates and students
If you want to drive real change, we have just the place to do it
Empowering families with flexibility
Supporting new parents of any gender with equal access to parental leave
Available jobs
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Rio Tinto chief executive J-S Jacques said "We have delivered strong financial results with underlying EBITDA of $10.3 billion and EBITDA margin of 47%. Our financial performance was driven by our Pilbara operations with a 72% EBITDA margin, underpinned by strong iron ore prices. "We are taking actions to protect the Pilbara Blend and optimise performance across our iron ore system, following the operational challenges which emerged in the first half.
"Our world-class portfolio and strong balance sheet serve us well in all market conditions. This, together with our disciplined capital allocation, underpins our ability to continue to invest in our business and deliver superior returns to shareholders in the short, medium and long term. Our delivery is in evidence today, with our record interim returns of $3.5 billion."
Six months to 30 June
2019
2018
Change
Net cash generated from operating activities (US$ millions)*
6,389
5,228
22
%
Capital expenditure1 (US$ millions)
2,391
2,363
1
Free cash flow2 (US$ millions)
3,879
2,883
35
Underlying EBITDA3 (US$ millions)
10,250
9,198
11
Underlying earnings3 (US$ millions)
4,932
4,416
12
Net earnings (US$ millions)
4,130
4,380
(6
)%
Underlying earnings3 per share (US cents)
301.5
253.6
19
Basic earnings per share (US cents)
252.5
251.6
-
Ordinary dividend per share (US cents)
151.0
127.0
At 30 June 2019
At 31 Dec 2018
Net (debt)/cash4 (US$ millions)
(4,855
)
255
Net gearing ratio5
10%
(1
Return on Capital Employed (ROCE)6
23%
1 Capital expenditure is presented gross, before taking into account any cash received from disposals of property, plant and equipment (PP&E). The following financial performance indicators - which are non-GAAP measures - are those management uses internally to assess performance. They are therefore considered relevant to readers of this document. They are presented here to give more clarity around the underlying business performance of the Group’s operations. 2 Free cash flow is defined as net cash generated from operating activities less purchases of PP&E less lease principal payments plus sales of PP&E. 3 Net and underlying earnings relate to profit attributable to the owners of Rio Tinto. Underlying EBITDA and earnings are defined on page 13. Underlying earnings is reconciled to net earnings on page 72. 4 Net cash / debt is defined and reconciled to the balance sheet on page 49. 5 Net gearing ratio is defined as net debt divided by the sum of net debt and total equity at the end of each period. 6 Return on Capital Employed (ROCE) is defined as annualised underlying earnings excluding net interest divided by average capital employed (operating assets before net debt). 7 EBITDA margin is defined as Group underlying EBITDA divided by Product Group total revenues. 8 Mine-to-market productivity improvements refer to the additional free cash flow generated from post-tax operating cash cost improvements and post-tax volume gains from productivity programmes. 9 Refer to page 44 for pre-tax analysis of impairment charge. 10 Refer to market release on 16 July 2019 "Update on Oyu Tolgoi underground project". 11 For full details, see the Notice to the ASX dated 1 August 2019 ("Rio Tinto Exploration Update - Winu project") and accompanying information provided in accordance with the Table 1 checklist in The Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code, 2012 Edition). These materials are also available on riotinto.com.
A comprehensive list of presentation documents is available in Results & reports.
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With the exception of the use of cookies, Rio Tinto generally does not seek to collect personal data through this website. However if you choose to provide personal data to Rio Tinto through this website (for example, by sending us an email), we will process that personal data to answer your query and if relevant, to manage our business relationship with you or your company. We won't process that personal data for other purposes except where required to meet our legal obligations or otherwise as authorised by law and notified to you.
If you choose to subscribe to our media releases or other communications, you can unsubscribe at any time (by following the instructions in the email or by contacting us).
With your consent, our website uses cookies to distinguish you from other users of our website. This helps us to provide you with a good experience when you browse our website and also allows us to improve our site. A cookie is a small file of letters and numbers that we store on your browser or the hard drive of your computer if you agree. Cookies contain information that is transferred to your computer's hard drive.
As some data privacy laws regulate IP addresses and other information collected through the use of cookies as personal data, Rio Tinto’s processing of such personal data needs to comply with its Data Privacy Standard (see Part 1 of our Privacy Policy), and also applicable data privacy laws.
With the exception of the use of cookies (explained below), Rio Tinto generally does not seek to collect personal data through this website. However if you choose to provide personal data to Rio Tinto through this website (for example, by sending us an email), we will process that personal data to answer your query and if relevant, to manage our business relationship with you or your company. We won't process that personal data for other purposes except where required to meet our legal obligations or otherwise as authorised by law and notified to you.
Part 1 of this Privacy Policy contains the Rio Tinto Data Privacy Standard, which provides an overview of Rio Tinto’s approach to personal data processing. There is additional information in the appendices to the Data Privacy Standard, including information about disclosures, trans-border data transfers, the exercise of data subject rights and how to make complaints or obtain further information relating to Rio Tinto’s processing of your personal data.
If you choose to subscribe to our media releases or other communications, you can unsubscribe at any time (by following the instructions in the email or by contacting us at digital.comms@riotinto.com).
With your consent, our website uses cookies to distinguish you from other users of our website. This helps us to provide you with a good experience when you browse our website and also allows us to improve our site.
A cookie is a small file of letters and numbers that we store on your browser or the hard drive of your computer if you agree. Cookies contain information that is transferred to your computer's hard drive.
As some data privacy laws regulate IP addresses and other information collected through the use of cookies as personal data, Rio Tinto’s processing of such personal data needs to comply with its Data Privacy Standard (see Part 1 of this Privacy Policy), and also applicable data privacy laws.
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