Glencore PLC

GLEN

Equity

ISIN JE00B4T3BW64 / Valor 12964057

LSE London Stock Exchange, SETS (2024-12-23)

GBP 3.54+0.34%

Glencore PLC
UMushroom community rating:

0.00 0 votes No rating yet

NegativeNeutralPositive

About company

Glencore PLC is a multinational commodity trading and mining company that focuses on the production and marketing of metals, minerals, energy products, and agricultural goods.

Summarized from source with an LLMView SourceSector: Energy

Revenue Growth

In the first half of 2024, Glencore PLC reported a revenue of $117.1 billion, marking a 9% increase compared to the same period in 2023. This growth was achieved despite the challenging market conditions and lower average prices for key commodities.

Adjusted EBITDA Decline

Glencore PLC's Adjusted EBITDA for the first half of 2024 was $6.3 billion, a 33% decrease from the previous year. This decline was primarily due to the normalization of energy markets following the disruptions and volatilities experienced in 2022 and 2023.

Net Loss Reported

For the first half of 2024, Glencore PLC reported a net loss attributable to equity holders of $233 million. This was after recognizing significant items totaling $1.7 billion, including approximately $1.0 billion in impairment charges.

Cash Flow and Debt Reduction

Glencore PLC generated healthy cash flows in the first half of 2024, allowing the company to fund $2.9 billion in net capital expenditure and $1.0 billion in shareholder returns. Consequently, net debt was reduced to $3.6 billion, down from $4.9 billion at the end of 2023.

Outlook and Shareholder Returns

Glencore PLC's outlook for the remainder of 2024 remains positive, with production expected to be second-half weighted. The company anticipates potential top-up shareholder returns in February 2025, supported by a strong cash flow generation capacity and the expected proceeds from the Viterra disposal.

Summarized from source with an LLMView Source

Key figures

-24.1%1Y

-5.82%3Y

50.3%5Y

Performance

26.6%1Y

32.9%3Y

44.1%5Y

Volatility