Feb 26 (Reuters) - Rio Tinto Ltd (RIO) :
- FY UNDERLYING EARNINGS $10,373 MLN VS $8,808 MLN
- FY NET EARNINGS $8,010 MLN VS $13,638 MLN
- FY NET DEBT $3,651 MLN VS CASH OF $255 MLN
- ANNOUNCES FULL-YEAR ORDINARY DIVIDEND OF $6.2 BILLION (382 US CENTS PER SHARE)
- FINAL ORDINARY DIVIDEND OF $3.7 BILLION (231 US CENTS PER SHARE)
- CLOSELY MONITORING IMPACT OF COVID-19 VIRUS AND ARE PREPARED FOR SOME SHORT-TERM IMPACTS, SUCH AS SUPPLY-CHAIN ISSUES
- "OUR PRODUCTS ARE CURRENTLY REACHING OUR CUSTOMERS"
- TOTAL FY CASH RETURNS OF $7.2 BILLION (443 US CENTS PER SHARE)
- 2020 PRODUCTION GUIDANCE IS UNCHANGED FROM PRIOR DISCLOSURES
- CURRENTLY EVALUATING IMPACT OF THE COVID-19 VIRUS, WHICH COULD CREATE SIGNIFICANT UNCERTAINTY FOR BUSINESS IN THE NEAR TERM
- ALL OPERATIONS ARE LOOKING AT OPPORTUNITIES TO ADJUST TO THE IMPACT OF THE COVID-19 VIRUS ON MARKET CONDITIONS
- CAPITAL EXPENDITURE EXPECTED TO BE AROUND $7.0 BILLION IN 2020,AND AROUND $6.5 BILLION IN EACH OF 2021 AND 2022
- COPPER C1 UNIT COSTS IN 2020 ARE AFFECTED BY LOWER COPPER GRADES AND LOWER BY-PRODUCT REVENUES
- SEES EFFECTIVE TAX RATE ON UNDERLYING EARNINGS OF ABOUT 30% IN 2020
- WILL CONTINUE TO MONITOR AND ADJUST PRODUCTION LEVELS AND PRODUCT MIX TO MEET CUSTOMER REQUIREMENTS IN 2020
- LONGER TERM DEMAND FOR COPPER EXPECTED TO REMAIN ROBUST DUE TO URBANISATION, INDUSTRIALISATION, ELECTRIFICATION IN CHINA, EMERGING ECONOMIES
- EXPECT TO ACCESS HIGHER, MORE CONSISTENT GRADE ORE FROM FIRST QUARTER 2021 FOR MINED COPPER
- EXPECT ALUMINIUM DEMAND TO IMPROVE IN 2020
- CO'S AMBITION IS FOR NET ZERO EMISSIONS FROM OPERATIONS BY 2050
- CO'S GROWTH, OVERALL, BETWEEN NOW AND 2030 WILL BE CARBON NEUTRAL
- GROWTH BETWEEN NOW AND 2030 WILL BE CARBON NEUTRAL, UNDERPINNED BY ABOUT $1 BLN OF CLIMATE-RELATED SPEND OVER NEXT 5 YRS
Source: https://bit.ly/39cGusk
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