Daily Management Review

Glencore posts $404M net loss in 2019


Swiss commodity trader Glencore in 2019 received a net loss attributable to shareholders of $ 404 million, compared with a profit of $ 3.4 billion a year earlier, the trader’s statements reads.

Glencore posts $404M net loss in 2019
The diluted loss per share was $ 0.03 versus $ 0.24 a year earlier. The company's revenue was reduced by 2.5%, to $215.111 billion. Adjusted EBITDA fell 26% to $ 11.601 billion. Net debt for the year increased by 19% and amounted to $17.556 billion.

Glencore CEO Ivan Glasenberg, whose words are quoted in the release, noted that the company's 2019 results, among other things, reflect "protracted and uncertain trade negotiations and a general decline in prices for our key commodities."

Glencore is one of the world's largest commodity traders, including energy, metals and agricultural products. The company's headquarters is located in Swiss Baar. Shares are traded on exchanges in London and Hong Kong.

source: bloomberg.com