Rio Tinto reports FY24 underlying EBITDA of $23.3B

For the year ended December 31, 2024, Rio Tinto (RIO) reports consolidated sales revenue of $53.658B, down 1% from the prior 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 $23.3B and operating cash flow of $15.6B, we are increasing our investments to underpin our plans for a decade of profitable growth. We are reporting underlying earnings of $10.9B, after taxes and government royalties of $8.2B, and a healthy return on capital employed of 18%. Our strong balance sheet enables us to pay a $6.5B ordinary dividend, maintaining our practice of a 60% payout, the ninth consecutive year at the top end of our payout range, as we continue to invest with discipline. We are excited as we head into 2025, with all the building blocks for an incredibly successful, diversified and growing business in place including the expected closing of the Arcadium acquisition in March. We will remain disciplined in the short, medium and long term, while paying attractive returns to shareholders.”