Editing Rio Tinto Group (section)

== Historic and Future Financials ==
{| class="wikitable"
|'''Year End''' 
|'''Net Income  in Millions of US$'''
|'''Assets in  Millions of US$'''
|-
|31/12/2009
|5335
|97236
|-
|31/12/2010
|15184
|112402
|-
|31/12/2011
|6765
|119545
|-
|31/12/2012
|<nowiki>-3004</nowiki>
|117573
|-
|31/12/2013
|3665
|111025
|-
|31/12/2014
|6527
|107827
|-
|31/12/2015
|<nowiki>-866</nowiki>
|91564
|-
|31/12/2016
|4617
|89263
|-
|31/12/2017
|8762
|95726
|-
|31/12/2018
|13638
|90949
|-
|31/12/2019
|8010
|87802
|-
|31/12/2020
|976 9
|97390
|-
|31/12/2021
|21094
|102896
|-
|31/12/2022
|12420
|96744
|}
Recent revenues has increased dramatically from 2020 to 2021 due to the greater demand for goods post pandemic amongst several developed countries. This in turn necessitated more metals/minerals for the production of various consumer goods such as cars, white goods and electronics. However 2021 to 2022 revenue decreased mainly due to the lockdown restrictions imposed in China. Since China is a major manufacturing powerhouse, a reduction in demand from the Chinese market ensured that there was a major price drop in the commodities market which impacted the revenue of Rio Tinto in financial year 2022. However, as China is coming out of pandemic restrictions, there should be an increasing demand for metals/minerals leading to a more positive outlook for Rio Tinto in 2023. 
[[File:Revenue .png|thumb|802x802px]]

         


To estimate future revenue, the FORECAST.ETS function was used in excel which uses an exponential smoothing algorithm based on the previous data provided to forecast future returns. 

 {| class="wikitable"
|Year End 
|Future Net Income in Millions of  US$
|-
|31/12/2023
|13821.95
|-
|31/12/2024
|14519.41
|-
|31/12/2025
|15216.86
|-
|31/12/2026
|15914.32
|-
|31/12/2027
|16611.78
|-
|31/12/2028
|17309.24
|-
|31/12/2029
|18006.69
|-
|31/12/2030
|18704.15
|-
|31/12/2031
|19401.61
|-
|31/12/2032
|20099.06
|-
|31/12/2033
|20796.52
|-
|31/12/2034
|21493.98
|-
|31/12/2035
|22191.44
|-
|31/12/2036
|22888.89
|}


As you can see the mining industry is very cyclical since the price of metals are very volatile. In certain years there is a surplus of metals such as steel or copper particularly when major manufacturing and consumer countries experience economic slowdown which reduces the demand for metals. However, in the future as more countries industrialise rapidly and a greater emphasis is placed on green transition metals should increase in price in a less cyclical fashion.