Glencore Turns To Net Profit In FY25, Adj. EBITDA Down

(RTTNews) - Glencore Plc (GLEN.L, GLNCY.PK, GLCNF.PK), a commodity trading and mining company, reported Wednesday a profit in fiscal 2025, compared to prior year's loss, with increased revenues. Meanwhile, adjusted EBIT and adjusted EBITDA, key earnings metrics, dropped from last year.

In the full year, net income attributable to equity holders was $363 million or $0.03 per share, compared to prior year's loss of $1.63 billion or $0.13 per share.

Adjusted EBIT fell 14 percent to $5.98 billion from last year's $6.94 billion. Adjusted EBITDA dropped 6 percent to $13.51 billion from $14.36 billion a year ago.

Revenue for the year, however, grew 7 percent to $247.535 billion from $230.944 billion last year.

For the second consecutive year, the firm met its guidance for full year production volumes for key commodities.

The second-half copper production of over 500 thousand tonnes was almost 50% above the first half, primarily due to higher copper grades and recoveries at KCC, Mutanda, Antapaccay and Antamina.

Further, the firm said it is recommending a top-up cash distribution of $7c/share. The aggregate cash distribution of $17c/share is intended to be paid in two equal instalments, in June and September.

Looking ahead, the company expects to produce over 1 million tonnes annualised by the end of 2028, with Glencore now targeting around 1.6 million tonnes of copper production by 2035.

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