Rio Tinto reported full-year revenue up 7% to $57.6bn, with underlying cash profit (EBITDA) rising 9% to $25.4bn. Performance was driven by an 8% uplift in production and higher copper, aluminium and gold prices. Cost discipline also helped, offsetting a 6% drop in iron ore prices and a c.$1bn impact from US tariffs on aluminium.
The rise in production was largely driven by a 61% increase in copper output from the Oyu Tolgoi ramp-up. Guidance for 2026 points to broadly stable production across the board.
Free cash flow fell 28% to $4.0bn, driven by a 28% increase in capital expenditure to $12.3bn. Net debt rose $8.9bn to $14.4bn, with $7.6bn associated with the Arcadium lithium acquisition.
A final dividend of $0.254 was announced, taking the total for the year to $0.402, flat on the prior year and maintaining a 60% payout ratio (40-60% target).
The shares fell 3.8% in early trading.
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Rio Tinto key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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