Glencore: net profit quartered in 2023

(CercleFinance.com) - Glencore is down over 1.
5% in London today after the commodities giant announced that its 2023 net income (group share) was quartered to $4.28bn, or 34 cents per share, while its adjusted EBITDA was halved to $17.1bn.

The Swiss group explains that it has been mainly affected by the rebalancing and normalization of international energy trade flows, with coal and LNG, and to a lesser extent, a significant decline in oil prices.

In view of the cash flows for the past financial year, Glencore intends to propose a dividend of 13 cents per share (i.e. around $1.6bn), to be paid to its shareholders in two equal halves in June and September.


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