Rio Tinto’s sales revenues up 1.25 percent in 2018

Wednesday, 27 February 2019 17:54:31 (GMT+3)   |   Istanbul

Australian iron ore giant Rio Tinto has announced its financial results for 2018, posting a net profit of US$13.64 billion for the given year, rising by 56 percent compared to the previous year. In 2018, Rio Tinto’s consolidated sales revenues increased by 1.25 percent compared to 2017, to US$40.5 billion, with higher prices for aluminium and copper offseting the impact of lower iron ore prices.

Rio Tinto's net profit from its iron ore unit in the given year amounted to US$6.51 billion, down three percent year on year. Rio Tinto's underlying earnings before interest, taxes, depreciation and amortization (EBITDA) for its iron ore unit were two percent lower year on year at US$11.32 billion in the given year.

In 2018, Rio Tinto's iron ore sales from its Pilbara operations amounted to 338.2 million mt, up two percent year on year. In the same period, the company’s iron ore production from Pilbara grew two percent year on year to 337.8 million mt.

According to Rio Tinto's statement, in the current year Rio Tinto’s iron ore shipments from the Pilbara region are expected to be between 338 million mt and 350 million mt, subject to market conditions and any weather constraints.

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