AT A GLANCE: Rio Tinto’s 2020 earnings climb in ‘extraordinary year’; new emissions goals set
A summary of Rio Tinto’s results for the full year 2020, to December 31, and its new emissions reduction goals.
- Rio Tinto generated $15.9 billion net cash from operating activities in 2020, 6% higher than 2019.
- The improvement was primarily driven by higher iron ore prices and stability in its operating performance.
- Rio Tinto’s underlying earnings before interest, taxes, depreciation and amortization (Ebitda) of $23.9 billion, was up 13% from 2019, with an underlying Ebitda margin of 51%.
- The $12.4 billion in underlying earnings was 20% above 2019, while net debt was $0.7 billion, a decrease of $3.0 billion.