Strong Foundation for Growth, Decarbonisation and Shareholder Returns
Balance sheet is strong; we will maintain our discipline
Net (cash) debt
$bn
14.1
12.9
11.3
10.0
9.3
9.3
9.6
-
7.6
8.0
5.6
4.9
4.8
5.2
4.9
3.8
3.7
1.6
-0.3
0.7
-0.5
Jun-16
Dec-16
Jun-17
Dec-17
Jun-18
Dec-18
Jun-19
Dec-19
Jun-20
Dec-20
Jun-21
Dec-21
Balance sheet strength is an asset.
Offers resilience and creates optionality
Gearing -3% and net (cash)/debt to
LTM^ EBITDA of -0.04x
Operating cash flow of $25.3bn
Invested $7.4bn and distributed
$15.4bn of cash to shareholders in
2021
Our financial strength allows us
to simultaneously:
Reinvest for growth
-
Accelerate our own decarbonisation
-Pro-forma net (cash) debt*
Reported net (cash) debt
-1.6
-3.1
*Pro-forma net debt adjusts for the remainder of previously announced buy-backs from operations, lags in shareholder returns from disposal proceeds, Australian tax
lag and disposal-related tax lag and the impact of IFRS 16 Leases accounting change for the prior periods. This lease accounting change is reflected in the June and
December 2019 reported net (cash)/debt | ^LTM = Last Twelve Months
Continue to pay attractive dividends
in line with our policy
Rio Tinto
©2022, Rio Tinto, All Rights Reserved
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