Glencore PLC

Latest Results (12.10.2025):

Glencore PLC reported its financial results for the first half of 2025, showcasing a period of significant operational optimization and strategic financial management. Despite challenges such as weaker coal prices and reduced copper production, the company is focused on cost savings and improving its financial position moving into the second half of the year.

Revenue

Glencore achieved a revenue of $117.4 billion in H1 2025, slightly up from $117.1 billion in H1 2024, maintaining a stable top line amidst market fluctuations.

Adjusted EBITDA

The company reported an Adjusted EBITDA of $5.4 billion, reflecting a 14% decrease compared to $6.3 billion in the same period last year. This decline was primarily driven by weaker coal prices and lower copper volumes.

Adjusted EBIT

Adjusted EBIT stood at $1.8 billion, down 37% from $2.85 billion in H1 2024, influenced by the lower industrial performance and operational challenges in the copper segment.

Net Loss

Glencore recorded a net loss of $655 million attributable to equity holders in H1 2025, compared to a net loss of $233 million in H1 2024, largely due to increased operational costs and decreased earnings.

Net Debt

Net debt increased to $14.5 billion by mid-2025, up from $11.2 billion at the end of 2024. The company maintains a strong financial position with a Net debt to Adjusted EBITDA ratio of 1.08x, which is expected to reduce significantly by year-end.

Shareholder Returns

Glencore committed to substantial shareholder returns, including $1.8 billion in shareholder returns and a planned share buyback of up to $1 billion by early 2026, leveraging proceeds from the Viterra sale.

Future Outlook

The company anticipates healthy cash flow generation and a meaningful reduction in net debt in the second half of 2025, supported by increased production in key assets and the implementation of cost-saving measures identified in their recent industrial portfolio review.