Annual results 2007

Record production, underlying earnings, cash flow and investment

• 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.

*Net earnings and underlying earnings relate to profit attributable to equity shareholders of Rio Tinto. Underlying earnings is defined and reconciled to net earnings on page 4. EBITDA is defined on page 30 of the full release. Underlying EBITDA excludes the same items that are excluded from underlying earnings.

Related documents

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Read the full media release

2007 Annual results presentation slides

2007 Annual results North American conference call slides

2007 Annual results presentation to analysts slides

Outlook for metals and minerals

2007 Annual results analysts presentation London transcript 13 February 2008

2007 Annual results presentation Q&As London transcript 13 February 2008

2007 Annual results press conference transcript 13 February 2008

2007 Annual results press conference call 13 February 2008

2007 Annual results North America conference call 13 February 2008

Webcast

Annual results presentation webcast

Presentation to UK and European financial community 13 February 2008
London 10.00 UKT

Presentation to US financial community 13 February 2008
New York 11.00 EST