Rio Tinto Plc : Solid, in-line FY results, encouraging guidance
>Underlying EBITDA in line, dividend at top of the range - Rio Tinto published FY 2023 underlying EBITDA of $ 23.9bn, in line with consensus and ODDO BHF estimates. The 9% the y-o-y drop was driven by lower commodity prices, especially for aluminium, and cost inflation, while volumes and forex provided small tailwinds. By division, Iron Ore reported EBITDA of $ 20.0bn, in line with the consensus and up 7% y-o-y driven by higher iron prices and good cost control with u...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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