Glencore has net loss in H1 2024
Time:Mon, 19 Aug 2024 08:11:47 +0800
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Swiss commodity trading and mining company Glencore posted a net loss of US$233 million in the first half of this year, compared to a net profit of US$4.57 billion in the same period a year ago.
During the period, the revenue went up by 9% year on year to US$117.09 billion, and the adjusted earnings before interest and tax (EBIT) plunged by 55% to US$2.85 billion.
The adjusted EBITDA fell by 33% to US$6.34 billion, dragged down by lower average prices of its key commodities during the period, especially for thermal coal.
