Commodities Glencore posts another half-year loss
As in the previous year, the mining and commodities group Glencore was in the red in the first half of 2025. Falling coal prices and lower copper production volumes were the main reasons for this.
06.08.2025, 08:50
SDA
At USD 117.4 billion, revenue remained roughly at the previous year's level, as the Group announced on Wednesday. Adjusted operating profit, however, fell by a significant 14 percent to 5.43 billion dollars.
The bottom line was a loss of 655 million dollars after a loss of 233 million dollars in the previous year. The loss per share increased to 0.05 dollars from 0.02 dollars.
Cutting costs
As has been known since last week, Glencore wants to make savings. Overall, Group costs are to be reduced by one billion dollars by the end of 2026 compared to 2024. More than half of the savings effect will already be visible by the end of the current year, according to the statement.
As part of the savings program, more than 300 initiatives have been launched in various areas, Glencore said. The Group hopes that these measures, which include personnel, administration and maintenance, will improve cash flows, reduce debt and, if possible, distribute more money to shareholders in the future.
In the previous week, Glencore had already increased its long-term targets for adjusted marketing operating profit to between 2.3 and 3.5 billion dollars. A range of 2.2 to 3.2 billion dollars had previously applied since 2017. One reason for the target increase was the merger of the agricultural trading company Viterra, in which Glencore owns around half, with its US competitor Bunge.
