Rio Tinto 2007 preliminary annual results

Rio Tinto 2007 preliminary annual results

Rio Tinto 2007 preliminary annual results

Record production, underlying earnings, cash flow and investment

Download full release in pdf: PR616g

Record underlying EBITDA* of $13,920 million, 11 per cent above 2006.
Record underlying earnings* of $7,443 million, one per cent above 2006.
Net earnings* were $7,312 million, two per cent below 2006.
Cash flow from operations up 15 per cent to a record of $12,569 million.
Annual production records set for iron ore, bauxite, aluminium, refined gold and refined copper, on a like for like basis.
Record capital expenditure of $5.0 billion, a 25 per cent rise over 2006, reflected continuing investment in value adding growth projects.
Record new capital commitments exceeding $8 billion (100% basis) announced in 2007, including the Yarwun alumina expansion, two new iron ore mines in the Pilbara and the Cape Lambert port expansion.
Alcan acquisition successfully completed and Alcan’s results included with effect from 24 October 2007. Rio Tinto established as a global leader in bauxite and aluminium, with a clear pathway to leadership in alumina. Integration progresses, with $940 million of post tax synergies targeted from the end of 2009.
New milestones in the expansion of the Group’s iron ore business reached: the 24 million tonne per annum Dampier port expansion completed on time and on budget and first production from Hope Downs mined three months ahead of schedule.
Ordinary dividend for the 2007 year increased 31 per cent to 136 US cents, with a further commitment to increase the 2008 and 2009 dividends by at least 20 per cent in each year.
First major sale announced from $15 billion divestment target with Greens Creek sold for $750 million.

For more information please contact:

Media Relations, London

Christina Mills
Office: +44 (0) 20 7781 1154
Mobile: +44 (0) 7825 275 605

Nick Cobban
Office: +44 (0) 20 7781 1138
Mobile: +44 (0) 7920 041 003

Media Relations, Australia

Ian Head
Office: +61 (0) 3 9283 3620
Mobile: +61 (0) 408 360 101

Amanda Buckley
Office: +61 (0) 3 9283 3627
Mobile: +61 (0) 419 801 349

Media Relations, US

Nancy Ives
Mobile: +1 619 540 3751

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Investor Relations, London

Nigel Jones
Office: +44 (0) 20 7781 2049
Mobile: +44 (0) 7917 227 365

David Ovington
Office: +44 (0) 20 7781 2051
Mobile: +44 (0) 7920 010 978

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Investor Relations, Australia

Dave Skinner
Office: +61 (0) 3 9283 3628
Mobile: +61 (0) 408 335 309

Simon Ellinor
Office:+ 61 (0) 7 3867 1068

Investor Relations, North America

Jason Combes
Office: +1 (0) 801 685 4535
Mobile: +1 (0) 801 558 2645

A full copy of the press release will also available on the Rio Tinto website: riotinto.com/media

High resolution photographs available at Newscast www.newscast.co.uk