Rio Tinto announces cash generation of $6.3 billion and cash returns to shareholders of $3.0 billion

Iron Investing

First half 2017 highlights Generated operating cash flow of $6.3 billion, EBITDA1 of $9.0 billion and EBITDA margin2 of 45 per cent. Delivered underlying earnings of $3.9 billion and net earnings of $3.3 billion. Achieved $2.1 billion of pre-tax sustainable operating cash cost improvements3 in 2016 and 2017 first half, meeting the target six months …

First half 2017 highlights

Generated operating cash flow of $6.3 billion, EBITDA1 of $9.0 billion and EBITDA margin2 of 45 per cent.
Delivered underlying earnings of $3.9 billion and net earnings of $3.3 billion.
Achieved $2.1 billion of pre-tax sustainable operating cash cost improvements3 in 2016 and 2017 first half, meeting the target six months ahead of schedule.
Strengthening the portfolio with all three growth projects on track and a $2.7 billion disposal announced in 2017 first half.
Reduced net debt by $2.0 billion to $7.6 billion, with gross debt4 lowered by $2.5 billion.

Returning cash to shareholders of $3.0 billion with respect to 2017 first half:

Declared interim dividend of 110 US cents per share, equivalent to $2.0 billion.
An increased share buy-back of $1.0 billion in Rio Tinto plc shares by the end of 2017.
In total represents 75 per cent of 2017 first half underlying earnings.

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