Rio Tinto FY24 Profit Rises

(RTTNews) - Anglo-Australian mining giant Rio Tinto Plc (RTNTF, RIO, RIO.L, RTPPF) Wednesday reported full-year 2024 profit after tax attributable to the owners of the company of US$11.55 billion or 707.2 cents per share, compared to US$10.06 billion or 616.5 cents per share in the prior year.

Consolidated sales revenue for the period was US$53.66 billion, up from US$54.04 billion in the prior year.

Underlying EBITDA for the period was $23.31 billion, down 2% from $23.89 billion last year.

Rio Tinto Chief Executive Jakob Stausholm said: "We continue to build on our momentum with another set of strong operational and financial results. With underlying EBITDA of $23.3 billion and operating cash flow of $15.6 billion, we are increasing our investments to underpin our plans for a decade of profitable growth. We are reporting underlying earnings of $10.9 billion, after taxes and government royalties of $8.2 billion, and a healthy return on capital employed of 18%."