about xstrata

Since its Initial Public Offering on the London Stock Exchange in March 2002, Xstrata has grown into a major global diversified mining group, listed on the London and Swiss stock exchanges, with its headquarters in Zug, Switzerland.

The Group's mining and metals operations now span four continents and seven countries: Australia, South Africa, Spain, Germany, Argentina, Peru and the UK and employ approximately 24,000 people globally including contractors.

Xstrata is currently the world's largest producer of export thermal coal and the largest producer of ferrochrome. In addition, Xstrata is a major producer of copper, coking coal, vanadium, zinc, gold, lead and silver. The Group's activities are structured into four international commodity businesses, Xstrata Alloys (ferrochrome and vanadium), Xstrata Coal (coking and thermal coal), Xstrata Copper and Xstrata Zinc (zinc and lead).

From the formation of Xstrata plc in 2002, Xstrata has grown rapidly through a series of transforming and bolt-on acquisitions to diversify its portfolio by geography and by commodity. As a result, the Group's portfolio is evenly spread between bulk, traded commodities such as coal and alloys, and metals traded according to London Metals Exchange (LME) terminal prices, such as copper, lead and zinc.

For further information, including information on Xstrata's health, safety, environment and community initiatives, see www.xstrata.com. Xstrata also publishes a separate Sustainability Report. The 2004 report will be available from Xstrata's website in April 2005 or as a hard copy on request.

EBIT by commodity EBIT by geography
Attributable net assets by commodity Attributable net assets by geography

* Pre-exceptionals, excluding discontinued operations, other businesses and unallocated

key financial results

Key financial results

highlights

  • Attributable profit up by 563% to $1,088 million, on the back of strong commodity prices
  • Excellent operational performance, with real cost savings of $44 million
  • Strong free cash flow of $1.4 billion, with net debt to equity reduced to 16.8% at year end
  • Major growth projects underway in all businesses