March 2014 Strategy Financial position Outlook and businesses Appendix. Fixed income investors update Delivering greater value

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "March 2014 Strategy Financial position Outlook and businesses Appendix. Fixed income investors update Delivering greater value"

Transcription

1 March 2014 Strategy Financial position Outlook and businesses Appendix Fixed income investors update Delivering greater value

2 Cautionary statement 2 This presentation has been prepared by Rio Tinto leading international mining group headquartered in the UK, combining Rio Tinto plc, a London and New York Stock Exchange listed company, and Rio Tinto Limited, which is listed on the Australian Securities Exchange. By reviewing/attending this presentation you agree to be bound by the following conditions. Forward-looking statements This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of All statements other than statements of historical facts included in this presentation, including, without limitation, those regarding Rio Tinto s financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to Rio Tinto s products, production forecasts and reserve and resource positions), are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Rio Tinto, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding Rio Tinto s present and future business strategies and the environment in which Rio Tinto will operate in the future. Among the important factors that could cause Rio Tinto s actual results, performance or achievements to differ materially from those in the forward-looking statements are levels of actual production during any period, levels of demand and market prices, the ability to produce and transport products profitably, the impact of foreign currency exchange rates on market prices and operating costs, operational problems, political uncertainty and economic conditions in relevant areas of the world, the actions of competitors, activities by governmental authorities such as changes in taxation or regulation and such other risk factors identified in Rio Tinto's most recent accounts in Australia and the United Kingdom and most recent Annual Report on Form 20-F filed with the United States Securities and Exchange Commission (the "SEC") or Form 6-Ks furnished to or filed with the SEC. Forward-looking statements should, therefore, be construed in light of such risk factors and undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this presentation. Rio Tinto expressly disclaims any obligation or undertaking (except as required by applicable law, the UK Listing Rules, the Disclosure and Transparency Rules of the Financial Conduct Authority and the Listing Rules of the Australian Securities Exchange) to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in Rio Tinto s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Nothing in this presentation should be interpreted to mean that future earnings per share of Rio Tinto plc or Rio Tinto Limited will necessarily match or exceed its historical published earnings per share.

3 March 2014 Strategy Financial position Outlook and businesses Appendix Strategy

4 A consistent strategy with clear priorities 4 Strategy Invest in and operate long-life, low-cost, expandable operations Priorities Improve performance Strengthen the balance sheet Deliver results Outcome Greater value for shareholders

5 March 2014 Strategy Financial position Outlook and businesses Appendix Financial position

6 Delivering greater value 6 Underlying earnings of $10.2 billion (+10%) Cash flows from operations of $20.1 billion (+22%) Net debt reduced to $18.1 billion Net earnings of $3.7 billion 15% increase to the full-year dividend

7 Delivering greater value 7 Transforming our business performance Cost reduction targets exceeded Record production Capex reduced Operating cash costs $2.3bn Exploration and evaluation $1bn 1 Copper equivalent growth calculated using long-term consensus price forecasts 9% production 1 growth in 2013 Thermal Coal Bauxite Iron Ore 26% less than in 2012

8 Exceeded 2013 cost reduction targets 8 Pre tax operating cash cost variance Reduction versus 2012 (US$ million) 2, % 2013 Target 2013 Actual 2014 Target Energy Aluminium 2,279 * Calculated at constant foreign exchanges rates 3,000 Copper Other PGs & Central $2.3 billion of operating cash cost improvement versus 2012 Exceeded $2 billion target for 2013 Further savings in 2014 to reach $3 billion full-year improvement against 2012 $1 billion reduction 1 in exploration and evaluation spend Exceeded $750 million target for 2013 by a third 4,000 net headcount reduction Significant productivity gains Group unit cash costs reduced by 10% versus 2012*

9 Strong cash flow from operations 9 Cash flow from operations US$ billion % increase in cash flows from operations versus 2012 Cash cost reductions 9% volume growth $5.6 billion increase in post tax cash flow from operating activities vs to $15.1 billion $3.5 billion of divestments announced or completed to date $2.5 billion received in 2013 $1 billion expected in early 2014 H H H H2 2013

10 Capital expenditure reduced by 26% 10 Expected capital expenditure profile* US$ billion % 12.9 >15% <11 >20% ~8 Five major projects completed in capex down by 26% compared to 2012 Iron ore growth pathway optimised at a lower capital intensity $1.9 billion reduction in sustaining capital across the Group Sequencing the best projects to optimise capex A 2013A 2014F 2015F Sustaining Pilbara sustaining Pilbara growth Other growth * Forecast capex is subject to variation in future exchange rates

11 Net debt has peaked and is declining 11 Net debt profile US$ billion Dec Jun Dec-13 Net debt reduced by: $4.0 billion versus 30 June 2013 $1.1 billion versus 31 Dec 2012 Long term and smooth debt maturity profile Weighted average maturity of around eight years Weighted average cost of debt of 4% $10.2 billion of cash at 31 Dec 2013 Targeting sustainable net debt levels in the mid-teen billion dollars Rated A-/A3 Stable by S&P/Moody s (S&P outlook revised on 27 February 2014)

12 Long-term and smooth bond maturity profile 12 Bond maturity profile (as at 28 February 2014) $ millions Rio Tinto Bonds - $22,945m Alcan Bonds - $2,050m

13 March 2014 Strategy Financial position Outlook and businesses Appendix Outlook and business update

14 Our businesses are well placed to meet global demand growth 14 OECD recovery underway Regional contribution to global PPP GDP growth 5% World GDP composition Percentage of world GDP, 2010 PPP$ 60% 4% 50% 3% 40% 30% 2% 20% 1% 10% 0% 2011A 2012A 2013A 2014F 2015F OECD China Other Source: Global Insight 0% China India Other emerging Asia Africa/Middle East Latin America Source: Global Insight

15 Delivering breakthrough iron ore growth 15 Mine capacity potential Million tonnes per annum Record Pilbara mine production of 250 Mt in 2013 (YoY +5%) 290 Mt/a commissioning continues to ramp-up ahead of schedule 360 Mt/a capital intensity reduced from mid $150s/t to $ /t* Rapid low-cost growth expected to produce more than 330 Mt* in 2015 Mine production capacity anticipated to grow by more than 60 Mt/a between 2014 and 2017 Global production guidance of 295 Mt* in 2014 * 100% basis

16 Copper delivers strong volume recovery 16 Mined copper volumes up 15% in 2013 with increased contributions from all four key operating assets Significant progress in executing the 4+2 strategy Disposals of $1.8 billion of noncore assets $514 million productivity improvement and cost savings Strategic review of Pebble interest La Granja and Resolution provide strong pipeline for growth through phased and prioritised development Mined and refined copper guidance 570,000 and 260,000 tonnes in 2014

17 Our other product groups are focused on reducing costs and improving productivity 17 Aluminium $574 million in cost reductions during 2013 Strengthening the portfolio Over $500 million improvement in earnings and EBITDA year on year Best bauxite reserves in the industry and an unrivalled position in renewable power Diamonds & Minerals Creating demand-led, integrated operations that are responsive to the changing external environment Driving returns through increasing productivity, reducing costs and delayering the organisation Advancing a tier 1 iron ore project in Guinea Energy Fostering a culture of performance and cost control $646 million in cost reductions during 2013 Optimising the portfolio through agreed sales of Clermont and Blair Athol for approximately $1 billion

18 Unrelenting focus to deliver on our priorities 18 Priority Delivered in 2013 Focus areas for 2014 Improve $2.3 billion cash operating cost reductions $1 billion lower exploration & evaluation spend Copper equivalent production growth of 9% Capex reduced by 26% to $12.9 billion Target further cost reductions to reach $3 billion full-year improvement on 2012 Sustain lower exploration & evaluation spend Continue improving productivity Strengthen Clear capital allocation priorities established Net debt down by $1.1 billion vs Systems & controls strengthened Remain disciplined in capital allocation Target continued net debt reduction to reach mid-teen billion dollar levels Preserve strong systems & controls Deliver Five major projects completed $3.5 billion of divestments announced Dividend increased by 15% Complete ramp up of Pilbara 290 project Complete approved projects Progress the Pilbara 360 project Greater returns to shareholders

19 March 2014 Strategy Financial position Outlook and businesses Appendix Appendix Delivering greater value

20 Rio Tinto a world leader in mining 20 Aluminium Leading position in: bauxite alumina aluminium Copper Leading position in: copper molybdenum Diamonds & Minerals Leading position in: titanium dioxide and zircon borates, diamonds and salt Energy Leading position in: uranium export coking and thermal coal Iron Ore Leading position in: seaborne iron ore

21 More than 80% of assets in OECD 2013 total assets (excluding non-controlling interests) by region 21 Canada 23% Europe 4% Mongolia 4% US 7% Other Asia 1 3% 1% Indonesia 1 Other Asia mainly relates to assets in Singapore and Oman. Total assets as at 31 December 2013 adjusted for non-controlling interests, cash, current and deferred tax receivables and derivatives. Excludes assets held for sale, cash and bank balances, current and deferred tax receivables, derivative assets. 4% South America Africa 6% 2013 total assets = $83 billion Australia/NZ 48%

22 Strength in diversity 22 Revenue by destination Percentage Revenue by commodity Percentage Diamonds 11% Europe 7% Other China 2% Gold 1% 6% 8% 4% Other 35% Iron Ore 15% North America 48% 22% Other Asia 15% Japan 16% Copper 9% Gross sales revenue in 2013 = $54.6 billion

23 Capital allocation priorities 23 1 Essential sustaining capex 2 Progressive 3 Iterative dividends cycle of: Further cash returns to shareholders Compelling growth Debt reduction

24 Iron Ore: Other developing regions should ensure a strong long-run demand 24 Total iron ore requirements Million tonnes 3,500 Growth fundamentals CAGR China India 3,000 Population ,500 Urban population ,000 GDP per capita , , China JKT EU27 India ASEAN Middle East Other Source: Rio Tinto Population Urban population GDP per capita ASEAN Source: United Nations, Global Insight, Rio Tinto Middle East

25 Copper: Strong long term fundamentals driven by supply gap and increasing demand 25 Primary mill grades Percentage (industry average) Mine supply / demand balance Million tonnes per annum Highly Probable Projects Base case production capability Primary demand Short term volatility -25% +8Mtpa to meet demand Supply drivers Declining ore grades at existing mines Higher costs (opex & capex) for new mines Greater depth Increasing ore hardness Rising labour costs Increasing utility costs (electricity, water) New supply in difficult jurisdictions Demand drivers China and other emerging markets (India, South East Asia) Non-traditional energy sources Energy efficiency and safety requirements Source: Wood Mackenzie Q3 2013

26 Aluminium: Market in modest deficit but expansions in China could reverse the trend 26 Global aluminium production balance Million tonnes A 2009A 2010A 2011A 2012A 2013A Series1 LME Price LME+Premium Source: Platts, Metal Bulletin, London Metal Exchange and CRU Aluminium cash cost curve* US$ per tonne 3000 US$/t 4,000 3,000 2,000 1,000 - Aluminium market currently in modest deficit due to Continued strong demand Curtailments/ production disruptions Inventories expected to stay high as financial deals remain attractive LME changes could bring regional premiums down to historical levels putting more pressure on smelters % 50% 75% RoW China Price * Cost curve includes an estimate of premiums as a credit to costs

27 Diamonds & Minerals: Long-term demand fundamentals are robust 27 Global commodity demand trajectories Indexed (2013) TiO2 feedstocks Diamond jewellery Salt (Asia only) Zircon Refined borates Increases in demand equivalent to: 7 new operations the size of Richards Bay Minerals by new operations the size of Boron by 2030 Increasing Chinese and emerging market wealth underpins long-term demand fundamentals for all products China GDP per capita currently 20% of USA levels More than 10 million people per year urbanising in China to 2030 Source: Rio Tinto

28 28 Energy: Strong long-term fundamentals for coal demand Seaborne thermal coal demand to grow 19% by 2018 Million tonnes (24) Europe JKT China India Other Asia 40 (6) 1067 RoW 2018 Thermal coal China, India and emerging South East Asian countries continued urbanisation and industrialisation driving demand Coking coal Seaborne metallurgical coal demand to grow 30% by 2018 Million tonnes Strong steel demand in China and India support coking coal Non-prime and semi-soft coking coals increasingly needed in the long run to manage scarcity of prime hard coking coal Europe JKT China India Brazil RoW 2018 Source: Wood Mackenzie coal market service (H2 2013)

29 Focused reductions in exploration and evaluation spend 29 Exploration and evaluation costs US$ million (pre tax) 2,250 2,000 1,750 1,500 1,250 1, $1,023 million Strong project pipeline Copper: La Granja and Resolution Further 28 projects ongoing across 10 commodities Exceeded $750 million target for exploration and evaluation savings in 2013 Exploration and evaluation spend to be sustained at around this level in 2014 and beyond YoY saving 2013 Iron ore evaluation Copper evaluation Aluminium evaluation Energy evaluation D&M evaluation Central exploration

30 Credit rating 30 Moody s 2 Standard & Poor s 3 Fitch 4 DBRS 5 Long-term A3 A- A- A Low Short-term P-2 A-2 F2 R1 Low Outlook Stable Stable Stable Stable 1. A rating is not a recommendation to buy, sell or hold securities, and may be subject to revision, suspension or withdrawal at any time by the assigning rating agencies 2. Moody s Investors Service Rating Action November 12, 2010 Rio Tinto 3. Standard & Poor s Ratings Direct February 27, 2014 Rio Tinto 4. Fitch Ratings February 19, 2010 Rio Tinto (rating not solicited by Rio Tinto) 5. DBRS Press Release July 3, 2009 Rio Tinto

31 Modelling earnings 31 Earnings sensitivity 2012 average published price/rate 2013 average published price/rate 10% change in 2013 average Impact on 2013 full year underlying earnings ($m) Copper 361c/lb 333c/lb +/-33c/lb 221 Aluminium $2,018/t $1,845/t +/-$185/t 553 Gold $1,669/oz $1,410/oz +/-$141/oz 29 Iron ore (62% Fe FOB) $122/t $126/t +/-$13/t 1,214 Coking coal (average spot) $209/t $159/t +/-$16/t 135 Thermal coal (benchmark) $99/t $85/t +/-$9/t 155 A$ 104USc 97USc +/-US9.7c 563 C$ 100USc 97USc +/-US9.7c 289 The sensitivities give the estimated effect on underlying earnings assuming that each individual price or exchange rate moved in isolation. The relationship between currencies and commodity prices is a complex one and movements in exchange rates can affect movements in commodity prices and vice versa. The exchange rate sensitivities include the effect on operating costs but exclude the effect of the revaluation of foreign currency working capital. They should therefore be used with care.

MF Global Seminar 15 October 2009

MF Global Seminar 15 October 2009 MF Global Seminar 15 October 29 This presentation has been prepared by Rio Tinto plc and Rio Tinto Limited ( Rio Tinto ) and consisting of the slides for a presentation concerning Rio Tinto. By reviewing/attending

More information

March 2016 Highlights Financial Performance Summary Appendix. Fixed income investors update

March 2016 Highlights Financial Performance Summary Appendix. Fixed income investors update March 2016 Highlights Financial Performance Summary Appendix Fixed income investors update Cautionary statements 2 This presentation has been prepared by Rio Tinto plc and Rio Tinto Limited ( Rio Tinto

More information

Debt investor presentation 2015 financial year

Debt investor presentation 2015 financial year Macedon Debt investor presentation 2015 financial year Peter Beaven Chief Financial Officer 25 August 2015 Disclaimer Forward-looking statements This presentation contains forward-looking statements, including

More information

Global aluminium outlook and our focus on Tier 1 assets

Global aluminium outlook and our focus on Tier 1 assets Global aluminium outlook and our focus on Tier 1 assets Gordon Hamilton, Vice president Metal Management Sales and Marketing, Rio Tinto Alcan Platts Aluminium Symposium Fort Lauderdale Short term economic

More information

ANNUAL GENERAL MEETING 2016 MARK CUTIFANI CHIEF EXECUTIVE. 21 ST April 2016

ANNUAL GENERAL MEETING 2016 MARK CUTIFANI CHIEF EXECUTIVE. 21 ST April 2016 ANNUAL GENERAL MEETING 2016 MARK CUTIFANI CHIEF EXECUTIVE 21 ST April 2016 CAUTIONARY STATEMENT Disclaimer: This presentation has been prepared by Anglo American plc ( Anglo American ) and comprises the

More information

Euro Bond Offering April 2002

Euro Bond Offering April 2002 Euro Bond Offering April 2002 Offering summary Issuer Guarantor Issue Long term ratings Anticipated maturity Listing Use of proceeds Joint bookrunners Rio Tinto Finance plc Rio Tinto Plc Benchmark Euro

More information

Interim results for the six months ended 31 December 2009

Interim results for the six months ended 31 December 2009 Interim results for the six months ended 31 December 29 ARM s financial position continues to be robust with net debt to equity of 8.4%. We are pleased about the significant increase in headline earnings

More information

Iron Ore: Industry Outlook. Tony Ottaviano Vice President Planning March 2011

Iron Ore: Industry Outlook. Tony Ottaviano Vice President Planning March 2011 Iron Ore: Industry Outlook Tony Ottaviano Vice President Planning March 2011 Disclaimer Reliance on Third Party Information The views expressed here contain information that has been derived from publicly

More information

Disclaimer. No offer of securities This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities.

Disclaimer. No offer of securities This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities. Disclaimer Forward looking statements Certain statements in this document are not historical facts and are or are deemed to be forward-looking. NWR s prospects, plans, financial position and business strategy,

More information

May 5, Q1 / 2016 Results

May 5, Q1 / 2016 Results May 5, 2016 Q1 / 2016 Results 1 Cautionary Statement Forward Looking Statements This presentation contains forward looking information and forward looking statements within the meaning of applicable Canadian

More information

CODELCO UPDATE April 2015. Copyrights 2014 CODELCO-CHILE. Todos los Derechos Reservados. Copyrights 2014 by CODELCO-CHILE. All Rights Reserved.

CODELCO UPDATE April 2015. Copyrights 2014 CODELCO-CHILE. Todos los Derechos Reservados. Copyrights 2014 by CODELCO-CHILE. All Rights Reserved. CODELCO UPDATE April 2015 Codelco Highlights Industry Overview Operating and Financial Review Development Plan and Outlook Codelco s Highlights 2014 Copper Mine Production: increased by 2.7% in 2014 to

More information

Market outlook Marcelo Bastos - Chief Operating Officer

Market outlook Marcelo Bastos - Chief Operating Officer Market outlook Marcelo Bastos - Chief Operating Officer April 2015 Important Information The information contained in this presentation is intended solely for your personal reference and may not be reproduced,

More information

BMO Capital Markets 2016 Global Metals and Mining Conference. Diego Hernández Chief Executive Officer

BMO Capital Markets 2016 Global Metals and Mining Conference. Diego Hernández Chief Executive Officer BMO Capital Markets 2016 Global Metals and Mining Conference Diego Hernández Chief Executive Officer 29 February 2016 Cautionary statement This presentation has been prepared by Antofagasta plc. By reviewing

More information

2014 full year results

2014 full year results 12 February 2015 Highlights Financial performance 2015 objectives Appendix 2014 full year results Delivering sustainable shareholder returns Cautionary statement 2 This presentation has been prepared by

More information

African Barrick Gold. BMO Global Metals & Mining Conference February 2013

African Barrick Gold. BMO Global Metals & Mining Conference February 2013 African Barrick Gold BMO Global Metals & Mining Conference February 2013 Disclaimer Important Notice This presentation has been provided to you for information purposes only. It does not constitute an

More information

Leveraging business intelligence to develop predictive insights. Sheetal Patole General Manager, Business Intelligence & Analytics 26 November 2015

Leveraging business intelligence to develop predictive insights. Sheetal Patole General Manager, Business Intelligence & Analytics 26 November 2015 Leveraging business intelligence to develop predictive insights Sheetal Patole General Manager, Business Intelligence & Analytics 26 November 2015 2 Who we are We are a leading global business delivering

More information

Codelco Investor Presentation. April 2014

Codelco Investor Presentation. April 2014 Codelco Investor Presentation April 2014 Codelco s Highlights Industry Overview Operating & Financial Review Development Plan Update & Outlook 2 Codelco At a Glance December 2013 World Largest Copper Producer:

More information

THE NEW ANGLO AMERICAN. Bank of America Merrill Lynch 2016 Global Metals, Mining & Steel Conference: 10 May 2016

THE NEW ANGLO AMERICAN. Bank of America Merrill Lynch 2016 Global Metals, Mining & Steel Conference: 10 May 2016 THE NEW ANGLO AMERICAN Bank of America Merrill Lynch 2016 Global Metals, Mining & Steel Conference: 10 May 2016 CAUTIONARY STATEMENT Disclaimer: This presentation has been prepared by Anglo American plc

More information

Riversdale a new supply of hard coking and thermal coal. Andrew Woodley, Executive Director Riversdale Mozambique Limitada

Riversdale a new supply of hard coking and thermal coal. Andrew Woodley, Executive Director Riversdale Mozambique Limitada Riversdale a new supply of hard coking and thermal coal Andrew Woodley, Executive Director Riversdale Mozambique Limitada Cautionary Statement This presentation has been prepared by Rio Tinto plc and Rio

More information

Forward looking statements This document contains statements that are, or may be deemed to be, forward looking statements which are prospective in

Forward looking statements This document contains statements that are, or may be deemed to be, forward looking statements which are prospective in Annual General Meeting 19 May 2016 Forward looking statements This document contains statements that are, or may be deemed to be, forward looking statements which are prospective in nature. These forward

More information

Health Care Worldwide. Citi - European Credit Conference September 24, 2015 - London

Health Care Worldwide. Citi - European Credit Conference September 24, 2015 - London Health Care Worldwide Citi - European Credit Conference September 24, 2015 - London Safe Harbor Statement This presentation contains forward-looking statements that are subject to various risks and uncertainties.

More information

OUTLOOK FOR METALS AND MINERALS. Full Year Results February Rio Tinto Economics & Markets

OUTLOOK FOR METALS AND MINERALS. Full Year Results February Rio Tinto Economics & Markets Highlights OUTLOOK FOR METALS AND MINERALS Full Year Results 20 February 2014 Rio Tinto Economics & Markets Prices for most commodities finished 20 below levels at the start of the year, but volatility

More information

TD Securities Mining Conference JANUARY 26-27, 2016. Developing the third-largest copper mine

TD Securities Mining Conference JANUARY 26-27, 2016. Developing the third-largest copper mine TD Securities Mining Conference JANUARY 26-27, 2016 Developing the third-largest copper mine Forward-looking statements This presentation includes certain forward-looking information within the meaning

More information

Interim results Leading the way in Asia, Africa and the Middle East

Interim results Leading the way in Asia, Africa and the Middle East 1 Interim results 2009 Leading the way in Asia, Africa and the Middle East 2 Forward looking statements This presentation contains or incorporates by reference forward-looking statements regarding the

More information

Rio Tinto Alcan Financial community site visit June 2008

Rio Tinto Alcan Financial community site visit June 2008 Rio Tinto Alcan Financial community site visit 15-20 June 2008 Cautionary statement This presentation has been prepared by Rio Tinto plc and Rio Tinto Limited ( Rio Tinto ) and comprises the slides for

More information

Standard Chartered today releases its Interim Management Statement for the third quarter of 2015.

Standard Chartered today releases its Interim Management Statement for the third quarter of 2015. Standard Chartered PLC Interim Management Statement 3 November 2015 Standard Chartered today releases its Interim Management Statement for the third quarter of 2015. Bill Winters, Group Chief Executive,

More information

Second Quarter 2015 Investor Conference Call

Second Quarter 2015 Investor Conference Call Second Quarter 2015 Investor Conference Call August 20, 2015 December 13, 2012 DRAFT 5 Safe Harbor Basis of Presentation Unless otherwise noted or unless the context otherwise requires, all references

More information

OUTLOOK FOR METALS AND MINERALS. Half Year Results 2013 8 August 2013. Rio Tinto Economics & Markets

OUTLOOK FOR METALS AND MINERALS. Half Year Results 2013 8 August 2013. Rio Tinto Economics & Markets Highlights OUTLOOK FOR METALS AND MINERALS Half Year Results 2013 8 August 2013 Rio Tinto Economics & Markets In the past six months trends in commodity prices have been influenced by key macroeconomic

More information

2015 Third Quarter Results Webcast October 29, 2015

2015 Third Quarter Results Webcast October 29, 2015 2015 Third Quarter Results Webcast October 29, 2015 Speaker Randall Oliphant Executive Chairman 2 Cautionary statements ALL AMOUNTS IN U.S. DOLLARS UNLESS OTHERWISE STATED CAUTIONARY NOTE REGARDING FORWARD-LOOKING

More information

Fourth quarter 2007. February 19, 2008 (1)

Fourth quarter 2007. February 19, 2008 (1) Fourth quarter 1 3 2 4 February 19, 2008 (1) Highlights Strong year for Hydro hit by lower aluminium prices in NOK and weaker downstream markets Solid operational performance Qatalum on track, 9% complete

More information

Third Quarter 2014 Earnings Review

Third Quarter 2014 Earnings Review Third Quarter 2014 Earnings Review Larry Lawson President and Chief Executive Officer Sanjay Kapoor Senior Vice President and Chief Financial Officer October 31, 2014 Third Quarter 2014 Summary Meeting

More information

Southern Copper Corporation May, 2015

Southern Copper Corporation May, 2015 Southern Copper Corporation May, 2015 0 I. Introduction 1 Management Presenter Presenter Raul Jacob Title Vice President, Finance & CFO 2 Safe Harbor Statement This presentation contains certain statements

More information

Notes to the 2008 Full financial statements continued

Notes to the 2008 Full financial statements continued 30 CHANGES IN EQUITY, SHARE PREMIUM AND RESERVES Year ended 31 December 2008 Year ended 31 December 2007 Attributable Outside Total Attributable Outside Total to interests to interests shareholders shareholders

More information

BMA, Australia. Marius Kloppers Chief Executive Officer

BMA, Australia. Marius Kloppers Chief Executive Officer BMA, Australia A tier 1 diversified growth portfolio Marius Kloppers Chief Executive Officer 1 May 211 Disclaimer Reliance on Third Party Information The views expressed herein contain information that

More information

MANAGEMENT COMMENTARY FIRST HALF QUARTER 2016 KEY FIGURES

MANAGEMENT COMMENTARY FIRST HALF QUARTER 2016 KEY FIGURES OCP Reports Second Quarter and First Half 2016 Results Casablanca, Morocco, September 23, 2016 OCP S.A. ( OCP or the Company ), a global leader in the fertilizer industry, today reported results for the

More information

Unilever Q Results Graeme Pitkethly / Andrew Stephen April 14 th 2016

Unilever Q Results Graeme Pitkethly / Andrew Stephen April 14 th 2016 Unilever Q1 2016 Results Graeme Pitkethly / Andrew Stephen April 14 th 2016 SAFE HARBOUR STATEMENT This announcement may contain forward-looking statements, including forward-looking statements within

More information

Value Creation in the Gold Mining Sector Melbourne Mining Club October 9, 2014

Value Creation in the Gold Mining Sector Melbourne Mining Club October 9, 2014 Value Creation in the Gold Mining Sector Melbourne Mining Club October 9, 2014 FORWARD LOOKING STATEMENTS This presentation contains forward-looking statements, within the meaning of the United States

More information

Base Metal Markets. Andrew Stonkus Vice President, Base Metals Marketing

Base Metal Markets. Andrew Stonkus Vice President, Base Metals Marketing Base Metal Markets Andrew Stonkus Vice President, Base Metals Marketing Forward Looking Information Both these slides and the accompanying oral presentation contain certain forward-looking statements within

More information

Worldwide GDP rising with a broad positive momentum; Europe back to growth, India speeding up

Worldwide GDP rising with a broad positive momentum; Europe back to growth, India speeding up Disclaimer This presentation contains forward-looking statements regarding future events and future results of Piaggio & C S.p.A (the Company ). that are based on the current expectations, estimates, forecasts

More information

ADVISORY CAPABILITY STATEMENT

ADVISORY CAPABILITY STATEMENT ADVISORY CAPABILITY STATEMENT Bridging Two Disciplines We are independent Engineering Economists and Advisors. Our principal competency is as supply side and asset specialists. Since 1971 we have bridged

More information

Chasing growth in a constrained environment

Chasing growth in a constrained environment Chasing growth in a constrained environment Bernard Fontana CEO June 14, 2012 Agenda 1 Drivers of demand growth 2 Allocating the asset footprint according to demand 3 Growth from customer excellence &

More information

ON TRACK TO MEET FULL YEAR EXPECTATIONS. Overview. Strategic Highlights. Alison Cooper, Chief Executive, commented

ON TRACK TO MEET FULL YEAR EXPECTATIONS. Overview. Strategic Highlights. Alison Cooper, Chief Executive, commented ON TRACK TO MEET FULL YEAR EXPECTATIONS Overview First quarter performance in line with guidance and on track to meet full year outlook US business performing well and to plan Tobacco net revenue up 16.6%

More information

FIRST QUARTER CONFERENCE CALL MAY 4, 2010

FIRST QUARTER CONFERENCE CALL MAY 4, 2010 FIRST QUARTER CONFERENCE CALL MAY 4, 2010 1 Cautionary Statement CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This presentation contains or incorporates by reference forwardlooking statements

More information

Business Update NOVEMBER 2016 OUR POTENTIAL

Business Update NOVEMBER 2016 OUR POTENTIAL Business Update NOVEMBER 2016 OUR POTENTIAL Disclaimer This presentation may contain forward-looking statements and projections. There can be no certainty of outcome in relation to the matters to which

More information

2016 Interim Results Presentation. 9 August 2016

2016 Interim Results Presentation. 9 August 2016 2016 Interim Results Presentation 9 August 2016 Regus Group Services 2016 Caution statement No representations or warranties, express or implied are given in, or in respect of, this presentation or any

More information

A global industrial technology company focused on environmental, energy, fluid handling industries. Integrated Clean Air Solutions for Industry 1

A global industrial technology company focused on environmental, energy, fluid handling industries. Integrated Clean Air Solutions for Industry 1 A global industrial technology company focused on environmental, energy, fluid handling industries 1 Notes to Investors Forward-Looking Statements and Non-GAAP Information Any statements contained in this

More information

2013 Half Year Results

2013 Half Year Results 2013 Half Year Results Erwin Stoller, Executive Chairman Joris Gröflin, Chief Financial Officer Agenda 1. Introduction and summary of first half year 2013 2. Financial results first half year 2013 3. Outlook

More information

9m RESULTS OCTOBER Harald Wilhelm I Chief Financial Officer

9m RESULTS OCTOBER Harald Wilhelm I Chief Financial Officer 1 9m RESULTS 2015 30 OCTOBER 2015 Harald Wilhelm I Chief Financial Officer SAFE HARBOUR STATEMENT 2 Disclaimer This presentation includes forward-looking statements. Words such as anticipates, believes,

More information

Market outlook. Kathrine Fog. Capital Markets Day 2015

Market outlook. Kathrine Fog. Capital Markets Day 2015 Market outlook Kathrine Fog Capital Markets Day 215 Agenda market outlook 1 Macroeconomic and downstream outlook 2 Primary metal market 3 Bauxite and alumina market 4 Long-term outlook 2 Macroeconomic

More information

Finance. Eivind Kallevik. Capital Markets Day 2014 (1)

Finance. Eivind Kallevik. Capital Markets Day 2014 (1) Finance Eivind Kallevik Capital Markets Day 2014 (1) Finance 2014 1 Financial developments 2 Sensitivities 3 Financial policy 4 Financial reporting going forward Finance 2014 1 Financial developments 2

More information

Ludwigshafen, February 25, 2014

Ludwigshafen, February 25, 2014 Ludwigshafen, February 25, 2014 Analyst Conference FY2013 Cautionary note regarding forward-looking statements This presentation may contain forward-looking statements that are subject to risks and uncertainties,

More information

SECOND QUARTER 2015 CONFERENCE CALL & WEBCAST

SECOND QUARTER 2015 CONFERENCE CALL & WEBCAST SECOND QUARTER 2015 CONFERENCE CALL & WEBCAST JULY 30, 2015 TSX: FM; LSE: FQM CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENT Certain statements and information herein, including all statements that

More information

By Magnus Ericsson, Anton Löf and Olle Östensson

By Magnus Ericsson, Anton Löf and Olle Östensson By Magnus Ericsson, Anton Löf and Olle Östensson The world iron ore market in 2010 was dominated by a resurgence after the stimuli packages, put in place in 2009 following the global financial crisis,

More information

GLOBAL IRON ORE & STEEL FORECAST QUALITY IRON ORE A BRAZILIAN & SOUTH AFRICAN PERSPECTIVE

GLOBAL IRON ORE & STEEL FORECAST QUALITY IRON ORE A BRAZILIAN & SOUTH AFRICAN PERSPECTIVE GLOBAL IRON ORE & STEEL FORECAST QUALITY IRON ORE A BRAZILIAN & SOUTH AFRICAN PERSPECTIVE James Harman Head of Business Development, Iron Ore & Coal 23 March 2011 CONTENTS Anglo American World class mining

More information

Core Strengths, Sustainable Returns

Core Strengths, Sustainable Returns Nordic Senior Investor Day 2012 Core Strengths, Sustainable Returns Daniel Fairclough, Head of Investor Relations Hetal Patel, General Manager Investor Relations 23 May 2012 Disclaimer Forward-Looking

More information

Novelis Q3 Fiscal Year 2016 Earnings Conference Call

Novelis Q3 Fiscal Year 2016 Earnings Conference Call Novelis Q3 Fiscal Year 2016 Earnings Conference Call February 9, 2016 Steve Fisher President and Chief Executive Officer Steve Pohl Vice President and Interim Chief Financial Officer 1 Safe Harbor Statement

More information

Deutsche Bank Mining and Metals Conference

Deutsche Bank Mining and Metals Conference EVRAZ GROUP S.A. FY 26 Preliminary 1 Results EVRAZ GROUP S.A. Deutsche Bank Mining and Metals Conference 12-13 November 27 Disclaimer 2 This document does not constitute or form part of and should not

More information

THE NEW ANGLO AMERICAN. BMO 25 th Global Metals & Mining Conference 29 February 2016

THE NEW ANGLO AMERICAN. BMO 25 th Global Metals & Mining Conference 29 February 2016 THE NEW ANGLO AMERICAN BMO 25 th Global Metals & Mining Conference 29 February 2016 CAUTIONARY STATEMENT Disclaimer: This presentation has been prepared by Anglo American plc ( Anglo American ) and comprises

More information

BHP Billiton Plc Annual General Meeting 2015

BHP Billiton Plc Annual General Meeting 2015 BHP Billiton Plc Annual General Meeting 2015 Disclaimer Forward-looking statements This presentation contains forward looking statements, including trends in commodity prices, strategies and objectives

More information

For personal use only

For personal use only 2016 Investor Presentation Bank of America Merrill Lynch - Global Metals & Mining Conference 11 May 2016 ASX: SGM USOTC: SMSMY www.simsmm.com Business Highlights Company Global leader in metals and electronics

More information

PROVIDING SOLUTIONS. 3 rd Quarter 2013 Results Investor and Analyst Conference Call 14 November 2013, 2:00 p.m. CET. Experience growth.

PROVIDING SOLUTIONS. 3 rd Quarter 2013 Results Investor and Analyst Conference Call 14 November 2013, 2:00 p.m. CET. Experience growth. PROVIDING SOLUTIONS 3 rd Quarter 2013 Results Investor and Analyst Conference Call 14 November 2013, 2:00 p.m. CET Experience growth. Highlights EBIT I in the first 9 months 556m (-11%) Fit for the future

More information

Q2 2012 Financial Results Conference Call

Q2 2012 Financial Results Conference Call Q2 2012 Financial Results Conference Call Conference Call August 9, 2012 1 Cautionary Statement Forward-Looking Statements This presentation may contain certain information that may constitute forward

More information

Fact sheet Exploration

Fact sheet Exploration Fact sheet 01 The Group combines Rio Tinto plc, which is listed on the London Stock Exchange, and Rio Tinto Limited, which is listed on the Australian Securities Exchange. Within Rio Tinto, the group

More information

Rio Tinto announces a 21 per cent increase in first half underlying earnings to $5.1 billion

Rio Tinto announces a 21 per cent increase in first half underlying earnings to $5.1 billion Media release Rio Tinto announces a 21 per cent increase in first half underlying earnings to $5.1 billion 7 August Rio Tinto chief executive Sam Walsh said Our outstanding half year performance reflects

More information

Aluminium market outlook

Aluminium market outlook Aluminium market outlook Arvid Moss, Executive Vice President and Head of Energy and Corporate Business Development January 13, 2011 (1) Agenda Market situation 2010 Status development from 2009 Restocking

More information

Result up on higher volumes and prices

Result up on higher volumes and prices Result up on higher volumes and prices First quarter presentation 2013 (1) highlights Underlying EBIT NOK 1 077 million Higher sales volumes driven by seasonality Increased realized alumina and aluminium

More information

Dry bulk shipping market outlook

Dry bulk shipping market outlook Dry bulk shipping market outlook Tina Qianwen Liu Country Manager, China Marine Money Shanghai 20 November 2014, Shanghai 2 3 Low commodity prices & lower cost of seaborne logistics 4 Excessive investment

More information

Defining Growth in the Rum Category. 3 December 2010

Defining Growth in the Rum Category. 3 December 2010 Defining Growth in the Rum Category 3 December 2010 Ed Pilkington Global Category Director, Vodka, Gin and Rum 2 Map of rum producing countries google maps. 3 Rum, colourful past - exciting future * Source:

More information

Driving Shareholder Value

Driving Shareholder Value Driving Shareholder Value Business Model and Capital Allocation Strategy Wolfgang Nickl CFO, Western Digital September 13, 2012 SAFE HARBOR Forward-Looking Statements This presentation contains forward-looking

More information

Oscar Landerretche M. Chairman of the Board

Oscar Landerretche M. Chairman of the Board BMO CAPITAL MARKETS 25th GLOBAL METALS & MINING CONFERENCE CODELCO: RECENT DEVELOPMENTS AND PERSPECTIVES Oscar Landerretche M. Chairman of the Board February 28 - March 2, 2016 CODELCO HIGHLIGHTS 2 2015

More information

Dr. Burkhard Lohr, CFO

Dr. Burkhard Lohr, CFO Experience growth. K+S Group Q2/15 Results 13 August 2015 Dr. Burkhard Lohr, CFO K+S Group Highlights Rejection of Potash Corp s unsolicited proposal The proposed transaction does not reflect the fundamental

More information

Key performance indicators

Key performance indicators The information included in the following sheets of this Excel file forms an integral part of the Aegon press release on the Q2 results 2013 as published on August 8, 2013. Cautionary note regarding non-ifrs

More information

Media release. Page 1 of 46

Media release. Page 1 of 46 Media release Rio Tinto delivers underlying earnings 1 of $9.3 billion and announces a 12 per cent increase in full year dividend and a $2.0 billion share buy-back 12 February 2015 Rio Tinto chief executive

More information

COMPANY UPDATE FIRST QUARTER 2016 RESULTS

COMPANY UPDATE FIRST QUARTER 2016 RESULTS COMPANY UPDATE FIRST QUARTER 2016 RESULTS ROYAL DUTCH SHELL 4 MAY 2016 Copyright of Royal Dutch Shell plc May 4, 2016 1 SIMON HENRY CHIEF FINANCIAL OFFICER ROYAL DUTCH SHELL PLC 2 DEFINITIONS & CAUTIONARY

More information

Financial Information

Financial Information Financial Information Solid results with in all key financial metrics of 23.6 bn, up 0.4% like-for like Adjusted EBITA margin up 0.3 pt on organic basis Net profit up +4% to 1.9 bn Record Free Cash Flow

More information

News Release. Zurich reports continued strong operating performance for the first six months of 2008

News Release. Zurich reports continued strong operating performance for the first six months of 2008 News Release Zurich reports continued strong operating performance for the first six months of 2008 Zurich Financial Services Mythenquai 2 8022 Zurich Switzerland www.zurich.com SWX Swiss Exchange/ SWX

More information

J.P. Morgan Global High Yield & Leveraged Finance Conference. February 26, 2014

J.P. Morgan Global High Yield & Leveraged Finance Conference. February 26, 2014 J.P. Morgan Global High Yield & Leveraged Finance Conference February 26, 2014 Forward-Looking Statements Certain items in this presentation and other information we provide from time to time, may constitute

More information

CROSS RELEASE PXUPA ASX RELEASE

CROSS RELEASE PXUPA ASX RELEASE CROSS RELEASE PXUPA ASX RELEASE 19 August 2010 PaperlinX Limited ABN 70 005 146 350 307 Ferntree Gully Road Mt Waverley Victoria 3149 Australia Tel: +61 3 8540 2211 Fax: +61 3 8540 2255 PAPERLINX 2010

More information

Financial Results. First Half February 17, 2012

Financial Results. First Half February 17, 2012 Financial Results First Half 2011-2012 February 17, 2012 1 Disclaimer This presentation does not constitute or form part of and should not be construed as any offer for sale of or solicitation of any offer

More information

Q3/2015 Results Analyst and Investor Conference Call. 29 October 2015

Q3/2015 Results Analyst and Investor Conference Call. 29 October 2015 Q3/2015 Results Analyst and Investor Conference Call 29 October 2015 Deutsche Börse Group 1 Highlights Q3/2015 Results Presentation Index derivatives and cash equities benefitted from higher volatility;

More information

Update on Glencore s plans to reduce net debt and adapt the business to the current commodity landscape

Update on Glencore s plans to reduce net debt and adapt the business to the current commodity landscape THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, JAPAN, JERSEY, SOUTH AFRICA OR

More information

Fourth Quarter 2015. Questions and Answers

Fourth Quarter 2015. Questions and Answers Fourth Quarter 2015 Questions and Answers Forward-Looking Statements This document may contain forward-looking information and statements about ArcelorMittal and its subsidiaries. These statements include

More information

BANK OF AMERICA MERRILL LYNCH GLOBAL METALS, MINING & STEEL CONFERENCE PRESENTATION 2016

BANK OF AMERICA MERRILL LYNCH GLOBAL METALS, MINING & STEEL CONFERENCE PRESENTATION 2016 11 May 2016 South32 Limited (Incorporated in Australia under the Corporations Act 2001 (Cth)) (ACN 093 732 597) ASX / LSE / JSE Share Code: S32 ISIN: AU000000S320 south32.net BANK OF AMERICA MERRILL LYNCH

More information

Health Care Worldwide

Health Care Worldwide Health Care Worldwide Goldman Sachs - Leveraged Finance Healthcare Conference March 4, 2014 New York Goldman Sachs Leveraged Finance Conference, Fresenius SE & Co. KGaA Copyright, March 4, 2014 Page 1

More information

Ferrari posted a record Q3 2015 performance

Ferrari posted a record Q3 2015 performance Ferrari posted a record Q3 2015 performance Shipments were 1,949 units, up 21% Net revenues were up 9% (3% at constant currencies) to Euro 723 million EBIT reached Euro 141 million, 610bps margin increase

More information

Health Care Worldwide

Health Care Worldwide Health Care Worldwide Barclays European High Yield and Leveraged Finance Conference October 30, 2014 London Barclays European High Yield and Leveraged Finance Conference, October 30, 2014 Copyright Page

More information

BlackBerry Reports 2015 Fiscal First Quarter GAAP Profitability

BlackBerry Reports 2015 Fiscal First Quarter GAAP Profitability NEWS RELEASE FOR IMMEDIATE RELEASE June 19, BlackBerry Reports 2015 Fiscal First Quarter GAAP Profitability Waterloo, ON BlackBerry Limited (NASDAQ: BBRY; TSX: BB), a global leader in mobile communications,

More information

Second Quarter Earnings Release Conference Call. July 23, 2009

Second Quarter Earnings Release Conference Call. July 23, 2009 Second Quarter Earnings Release Conference Call July 23, 2009 Cautionary Statement This presentation contains forwardlooking statements within the meaning of Section 27A of the Securities Act of 1933,

More information

Financial strategy supports strategic transformation

Financial strategy supports strategic transformation Financial strategy supports strategic transformation Analyst & Investor Conference, London June 19, 2013 Darryl Button Chief Financial Officer aegon.com Today s topics Financial strategy framework Strong

More information

VODAFONE AGREES TO ACQUIRE CONTROL OF HUTCH ESSAR IN INDIA

VODAFONE AGREES TO ACQUIRE CONTROL OF HUTCH ESSAR IN INDIA 11 February 2007 VODAFONE AGREES TO ACQUIRE CONTROL OF HUTCH ESSAR IN INDIA Vodafone announces today that it has agreed to acquire a controlling interest in Hutchison Essar Limited ( Hutch Essar ), a leading

More information

Delivering greater value for shareholders

Delivering greater value for shareholders Annual report Delivering greater value for shareholders Strategic report Performance highlights IFC Group overview 1 Chairman s letter 3 Chief executive s statement 5 Strategic context 6 Group strategy

More information

Full year and fourth quarter 2014 results 1

Full year and fourth quarter 2014 results 1 Full year and fourth quarter results 1 Luxembourg, February 12, 2015 Highlights Health and Safety frequency rate 2 of 1.1x in compared to 1.3x in 2013. Shipments of 1,813 thousand tonnes in full year,

More information

2012 Annual report. Additional information Financial calendar 231 Useful information 232

2012 Annual report. Additional information Financial calendar 231 Useful information 232 riotinto.com/reportingcentre Annual report Overview Performance highlights IFC Chairman s letter 1 Group overview 2 Chief executive s statement 4 Strategic context 5 Group strategy and business model 6

More information

Converting vision into value

Converting vision into value Converting vision into value June 10-11 2015 Karim Hajjar Chief Financial Officer Member of the Executive Committee Agenda Update on 2016 targets Cash conversion Returns 2 2016 targets confirmed Divestments,

More information

AVINO SILVER & GOLD MINES LTD.

AVINO SILVER & GOLD MINES LTD. AVINO SILVER & GOLD MINES LTD. T 604.682.370 Suite 900, 570 Granville Street ir@avino.com F 604.682.3600 Vancouver, BC V6C 3P www.avino.com August 8, 205 NYSE - MKT: ASM TSX-V: ASM FSE: GV6 Avino Reports

More information

2016 TD Securities Calgary Energy Conference July 7, 2016

2016 TD Securities Calgary Energy Conference July 7, 2016 2016 TD Securities Calgary Energy Conference July 7, 2016 FORWARD LOOKING STATEMENT DISCLAIMER & NOTE ON NON GAAP MEASURES Certain information included herein and during this presentation and associated

More information

Introduction. Anders Runevad, Group President & CEO Marika Fredriksson, Executive VP & CFO

Introduction. Anders Runevad, Group President & CEO Marika Fredriksson, Executive VP & CFO Introduction Anders Runevad, Group President & CEO Marika Fredriksson, Executive VP & CFO Aarhus, 12 June 2014 Disclaimer and cautionary statement This presentation contains forward-looking statements

More information

RHI AG. May 12, 2016

RHI AG. May 12, 2016 RHI AG Results 1Q/16 May 12, 2016 Highlights & Lowlights Highlights Positiv Steel Division operating EBIT margin of 7.8% in 1Q/16 driven by Europe and North America as a result of an improved product mix

More information

Brookfield financial Review q2 2010

Brookfield financial Review q2 2010 Brookfield financial Review q2 2010 Overview Operating cash flow and gains totalled $327 million in the second quarter or $0.53 per share compared to $294 million in the prior year. This brings operating

More information