Overview
Selected financial data
Record underlying EBITDA* of
US$22,317 million, 60 per cent
above 2007
EBITDA* of US$23,870 million was
75 per cent higher than 2007
Record underlying earnings*
of US$10,303 million, 38 per cent
above 2007
Net earnings* were US$3,676
million, 50 per cent below 2007
Cash flow from operations up
64 per cent to a record of
US$20,668 million
Annual production records set
for iron ore, bauxite, alumina, on a
like for like basis
Record net capital expenditure
of US$8.5 billion, a 71 per cent
rise over 2007
| Notes |
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- The accounting information in these charts is drawn up in
accordance with EU IFRS.
- Underlying earnings is the key financial performance
indicator which management use internally to assess
performance. It is presented here as an additional
measure of earnings to provide greater understanding of
the underlying business performance of the Group's
operations. Items excluded from net earnings to arrive at
underlying earnings are explained in note 2 to the 2008 Full financial statements. Both net earnings and
underlying earnings deal with amounts attributable to
equity shareholders of Rio Tinto. However, EU IFRS
requires that the profit for the year reported in the
income statement should also include earnings
attributable to outside shareholders in subsidiaries.
- In this report, the sales revenue of parent companies and
their subsidiaries is referred to as "Consolidated sales
revenue". Rio Tinto also reports a sales revenue measure
that includes its share of equity accounted units, which is
referred to as "Gross sales revenue". This latter measure is
considered informative because a significant part of the
Group's business is conducted through operations that are
subject to equity accounting.
* Net earnings and underlying earnings relate to profit
attributable to equity shareholders of Rio Tinto.
Underlying earnings is defined in Key performance indicators and is
reconciled to net earnings in Group financial performance. EBITDA is
earnings before interest, taxes, depreciation and
amortisation. Underlying EBITDA excludes the same
items that are excluded from underlying earnings.
EBITDA and underlying EBITDA are reconciled to
the income statement in the "Financial information
by business unit" section of the 2008 Full financial
statements.
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