Rio Tinto Plc : Solid, in line H1 results, all objectives confirmed
>Underlying EBITDA and earnings marginally below expectations, cash flow better - Rio Tinto published FY 2023 underlying EBITDA of $ 23.9bn, just a shade below ODDO BHF and consensus expectations. EBITDA improved 3% y-o-y as lower prices were outweighed by easing cost pressure and less negative one-offs. By division, a softer contribution from the core Iron Ore division was more than offset by a strong improvement in Aluminium and Copper. Iron Ore reported EBITDA of $...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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