Glencore has earned significantly less due to lower coal prices in 2024 and missed the market expectations.
The mining group and Raw material dealer However, it wants to return around $ 2.2 billion to its shareholders. For the past year, Glencore reported a decline in adjusted operational profit (EBITDA) by 16 percent compared to 2023 to $ 14.36 billion. According to a consensus created by Visible Alpha, analysts expected $ 14.61 billion. According to the Swiss company, the numbers reflect the progressive normalization of the energy markets compared to the faults that were observed after the Russian invasion of Ukraine three years ago.
The prices for power plant coal and gas decreased significantly in 2024, explained Glencore. In contrast, the market for copper and zinc concentrates was favorable.
Sales rose by 6 percent to $ 230.94 billion in the year, compared to the market expectation of $ 232.93 billion.
Diablesses of $ 5.3 billion, including in the South African coal business, led to a net loss of $ 1.63 billion. In the previous year, Glencore had a profit of $ 4.28 billion after taxes.
The raw material giant announced returns to the shareholders of around $ 2.2 billion. In addition to paying a base dividend of $ 0.10 per share, a share buyback with a volume of $ 1 billion is planned.
Glencore survives stock market nodes in London
The raw material giant Glencore puts its stock market nodes in London to the test. The optimal location for the initial nodes will continue to be checked, explained Glencore. The London stock exchange is currently suffering from a number of top -class delistings, including the chip manufacturer ARM and the betting provider Flutter Entertainment, which New York preferred to the United Kingdom. Company founders also prefer a listing in the USA in search of higher reviews.
On Wednesday, the Glencore share on the London Stock Exchange will temporarily dropped to £ 6.92 percent on Wednesday.
From Adam Whittaker
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