Glencore Plc Posts Net Profit In 2021; Revenue Up 43%

(RTTNews) - Glencore Plc (GLCNF.PK, GLNCY.PK, GLEN.L) said the Group delivered an 84% increase in fiscal year 2021 adjusted EBITDA to $21.3 billion. Net income, pre-significant items, was $9.1 billion, up 267% from prior year.

Fiscal year net income attributable to equity holders was $4.97 billion compared to a loss of $1.90 billion, previous year. Basic profit per share was $0.38 compared to a loss of $0.14. Revenue was $203.75 billion, up 43 percent from $142.34 billion.

"The significant improvement in the Group's financial results has driven net debt down to $6.0 billion, allowing for today's announcement of $4.0 billion of shareholder returns, comprising a recommended $3.4 billion or $0.26 per share base distribution, alongside a $550 million share new buyback or approximately $0.04 per share programme," Glencore's CEO, Gary Nagle, said.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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