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2/27/2019, 7:30 AM (Source: TeleTrader)
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Rio Tinto posts net earnings of $13.6B in FY2018, up 56%

Australian-British mining giant Rio Tinto Group reported on Wednesday its full-year results for 2018, stating that its net earnings stood at $13.6 billion, improving 56% compared to the year before that while the underlying earnings were $8.8 billion, rising 2% on an annual basis. Meanwhile, the company said that its basic earnings per shares amounted to $0.79 for the whole of 2018, up 62% compared to the year before that.

Rio Tinto stated its underlying EBITDA was $18.1 billion in 2018, declining 2% year on year with its margin at 68%, consistent with 2017. Meanwhile, net cash generated from operating activities for the whole of 2018 stood at $8.3 billion, down 2% compared to the previous year.

"We have once again announced record cash returns to shareholders of $13.5 billion on the back of $18 billion of underlying EBITDA and a Return on Capital Employed of 19%. These strong results reflect the efforts of the team to implement our value-over-volume strategy as we continued to strengthen the portfolio and invest in future growth," said Rio Tinto CEO Jean-Sebastien Jacques.

Breaking the News / VK