Edition:
India

Glencore Posts FY Adjusted EBITDA Down 26%


Tuesday, 18 Feb 2020 

Feb 18 (Reuters) - Glencore PLC ::FY ADJUSTED EBITDA FELL 26 PERCENT TO 11.6 BILLION USD.PRELIMINARY RESULTS 2019.GLENCORE - FY NET LOSS ATTRIBUTABLE TO EQUITY HOLDERS OF $0.4 BILLION, AFTER $2.8 BILLION OF IMPAIRMENT CHARGES.GLENCORE - FY 2019 ADJUSTED EBITDA OF $11.6 BILLION, DOWN 26%.GLENCORE - FY NET CAPEX CASH FLOW OF $5 BILLION.GLENCORE - ON TRACK TO ACHIEVE A NEAR DOUBLING OF OUR FIRST GHG TARGET WITH A REDUCTION IN SCOPE 1 AND 2 EMISSIONS INTENSITY OF C.10% SINCE 2016.GLENCORE - IN LINE WITH COMMITMENT TO A PARIS CONSISTENT STRATEGY, WE PROJECT A C.30% REDUCTION IN ABSOLUTE SCOPE 3 EMISSIONS BY 2035.GLENCORE - 2020 FOCUS ON REDUCING NET DEBT/ADJUSTED EBITDA RATIO CLOSER TO 1X AND NET DEBT TOWARDS C.$14-15 BILLION RANGE.GLENCORE - LOOKING AHEAD, IN SHORT-TERM, CLOSELY WATCHING CORONAVIRUS DEVELOPMENTS AND POTENTIAL SCENARIO IMPACTS ON GLOBAL GROWTH AND MARKETS.GLENCORE - RECOMMENDED 2020 BASE DISTRIBUTION OF $0.20 PER SHARE ($2.6 BILLION), PAYABLE IN TWO EQUAL INSTALMENTS.GLENCORE - $2.8 BILLION OF IMPAIRMENT CHARGES IN FY.GLENCORE - FY MARKETING ADJUSTED EBIT OF $2.4 BILLION, DOWN 2% YEAR-ON-YEAR.GLENCORE - NET DEBT OF $17.6 BILLION, AFTER $1.25 BILLION OF IFRS 16 RELATED LEASE LIABILITIES AT YEAR END.GLENCORE - 2020 FOCUS ON REDUCING NET DEBT/ADJUSTED EBITDA RATIO CLOSER TO 1X, NET DEBT TOWARDS C.$14-15 BILLION RANGE EXCLUDING MARKETING RELATED LIABILITIES.GLENCORE - FY REVENUE $215,111 MILLION VERSUS $220,524 MILLION.