Rio Tinto Plc : H1 2020 results come in a shade ahead of expectations. Key guidance reiterated
>H1 2020 results a touch better than expected - Rio Tinto published H1 2020 underlying EBITDA of $ 9.64bn (vs $ 10.25bn in H1 2019) above our estimates (ODDO BHF: $ 9.4bn) and consensus (Vuma: $ 9.2bn). By division, the iron ore (76% of FY 2019 EBITDA) performed closely to the previous year at $ 7.70bn (vs $ 7.55bn in H1 2019), reflecting increased sales volumes and lower operating costs. Iron ore prices, on average, were stable year on year. We note that HY 2020 Pilb...Rio Tinto is engaged in finding, mining and processing mineral resources. Co. has four product groups: iron ore, which supplies the global seaborne iron ore trade; aluminium, which includes bauxite mines, alumina refineries, and aluminium smelters; Copper and Diamonds, which has managed operations in Australia, Canada, Mongolia and the U.S., and non-managed operations in Chile and Indonesia, with by-product including gold, silver, molybdenum and others such as sulphuric acid, rhenium, and lead carbonate; and Energy and Minerals, which comprises mining, refining and marketing operations across borates, coal, iron ore concentrate and pellets, salt, titanium dioxide and uranium sectors.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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