We will grow and manage a diversified portfolio of metals and mining businesses with the single aim of delivering industry-leading returns for our shareholders. We can achieve this only through genuine partnerships with employees, customers, shareholders, local communities and other stakeholders, which are based on integrity, co-operation, transparency and mutual value-creation.

Xstrata is a major global diversified mining group,listed on the London and Swiss stock exchanges with its headquarters in Zug, Switzerland. Xstrata’s businesses maintain a meaningful position in seven major international commodity markets: copper, coking coal, thermal coal, ferrochrome, nickel,vanadium and zinc, with additional exposures to platinum group metals, gold, cobalt, lead and silver, recycling facilities and a suite of global technology products, many of which are industry leaders. Xstrata’s operations and projects span 18 countries and employ approximately 56,000 people, including contractors.

2007 Highlights

  • Record annual production of ferrochrome, mined zinc, thermal and coking coal, nickel and platinum and strong second-half copper output boosted volumes to capture the benefit of continued robust commodity prices
  • $6 billion of bolt-on acquisitions in thermal and coking coal, platinum and nickel in 2007 and early 2008
  • EBITDA increased by 7% to $11.3 billion; attributable profit up 13% to $5.5 billion
  • Real cost savings of $253 million achieved despite ongoing cost inflation in mining sector
  • Free cash flow of $4.6 billion after total capital expenditure of $2.9 billion
  • Strong operational cash flows reduced net debt to $12 billion, with gearing (net debt to net debt plus equity) of 32% at year-end
  • Pipeline of $30 billion of organic growth projects, of which $12 billion is approved, to deliver compound annual volume growth of over 12% to 2013
  • Full year dividend† increased by 20% to 50¢ per share, reflecting confidence in Xstrata’s prospects in buoyant commodity markets

Unless otherwise stated, 2007 data is provided on a statutory basis. 2006 data is provided on a pro forma basis, including 2006 acquisitions from 01.01.06

Graph: Revenue Graph: EBITDA Graph: EBIT Graph: Attributable profit
Graph: Earnings per share Graph: Cash generated from operations Graph: Net assets per share Graph: Dividends per share

†Full year dividend for 2007 includes paid interim and proposed final dividends