Rio Tinto: shares up slightly after unsurprising results
(CercleFinance.com) - The Rio Tinto share is up slightly on Wednesday after the global miner delivered unsurprising results for 2018.
The London-listed shares of Rio Tinto are currently up 0.9% at 4,426 pence.
This morning the company announced pretty flat revenues and EBITDA in 2018, with consolidated sales of 40.5 billion dollars last year, just 500 million dollars higher than 2017.
Rio said increased volumes of iron ore and copper, and higher aluminium and copper prices were offset by the impact of lower iron ore prices and coal divestments.
As a result, underlying EBITDA came in at 18.1 billion dollars, 2% lower than in 2017, due to a rise in energy and raw material costs, the group said.
Net earnings, however, rose to 13.6 billion dollars last year, 56% higher than 2017, on gains on disposals of businesses and land.
Rio maintains its production guidance for 2019. Pilbara shipments in 2019 are still expected to be between 338 and 350 million tonnes, compared to 338 million tonnes of Pilbara iron ore shipments in 2018.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The London-listed shares of Rio Tinto are currently up 0.9% at 4,426 pence.
This morning the company announced pretty flat revenues and EBITDA in 2018, with consolidated sales of 40.5 billion dollars last year, just 500 million dollars higher than 2017.
Rio said increased volumes of iron ore and copper, and higher aluminium and copper prices were offset by the impact of lower iron ore prices and coal divestments.
As a result, underlying EBITDA came in at 18.1 billion dollars, 2% lower than in 2017, due to a rise in energy and raw material costs, the group said.
Net earnings, however, rose to 13.6 billion dollars last year, 56% higher than 2017, on gains on disposals of businesses and land.
Rio maintains its production guidance for 2019. Pilbara shipments in 2019 are still expected to be between 338 and 350 million tonnes, compared to 338 million tonnes of Pilbara iron ore shipments in 2018.
Copyright (c) 2019 CercleFinance.com. All rights reserved.