In a challenging year, Xstrata delivered a
robust operating and financial performance
Operational highlights
- Record annual production of thermal coal, mined nickel, zinc in concentrate and lead metal. Stronger second half volumes of chrome, platinum, copper, semi-soft and coking coal
- Accelerated transformation of Xstrata Nickel and restructuring and expansion of Xstrata Zinc’s Australian operations reduced average C1 nickel and zinc costs by 33% and 25% respectively
- Year-on-year reductions in injury frequency rates. Total recordable injuries reduced by 14% in 2009 and by an average of 20% each year since 2003
- Over $8 billion of projects currently in construction, with a further $9 billion of projects due for approval in 2010
- Organic growth pipeline to deliver significant volume growth of more than 50% in copper and coal and more than double nickel volumes
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Financial highlights
- Operating EBITDA of $7 billion despite unprecedented destocking in the first half and lower demand and average prices in 2009 as a result of the economic downturn
- Real unit cost savings of $501 million, representing 5% of the operating cost base and an unbroken record of annual sustainable cost reductions since IPO
- Operational cash flow of over $5.3 billion, with stronger second half cash generation of $3.7 billion
- Gearing reduced to 26% from 40% as a result of robust cash flows and a successful rights issue to repay a net $3.7 billion of debt
- Dividend of 8¢ per share, reflecting the Board’s confidence in Xstrata’s near and medium-term prospects and financial position
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Revenue*
$bn  |
Operating EBITDA*
$bn  |
Operating profit*
$bn  |
Attributable profit*
$bn  |
Earnings per share (basic)*†
$  |
Cash generated from operations
$bn  |
Net assets per share**†
$  |
Dividends per share†
US¢  |
Total recordable injury frequency rate
per million hours worked  |
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