Glencore Plc reported first-half 2025 revenue of $117.4 billion, comfortably ahead of the $104.9 billion analysts expected, but profit measures fell short of forecasts. Adjusted EBITDA declined 14% year-on-year to $5.4 billion, missing the $5.9 billion consensus, while adjusted EBIT slid to $1.8 billion against estimates of $2.6 billion. The results sent the shares lower in early Zurich trading. Earnings were hurt by a 17% drop in industrial-division profit to $3.8 billion as weaker coal prices and operational challenges in copper reduced margins. The companyās trading desks showed a stark contrast: metals traders delivered their strongest half-year on record, yet energy and coal trading generated only about $40 million in EBIT, a performance Chief Executive Officer Gary Nagle called disappointing. Looking ahead, Nagle said coking-coal markets should tighten in coming months and that the group had navigated the new U.S. copper tariff ājust fine.ā Glencore added that a prolonged export ban in the Democratic Republic of Congo could leave much of its cobalt outputā18,900 tonnes in the first halfāunsold through end-2025, though it expects limited financial impact. Management also signalled that a sale of the companyās minority stake in U.S. agribusiness Bunge remains a long-term strategic option.
Glencore says Congo export ban may see much of its cobalt output unsold by end-2025 https://t.co/3J9S4gcmUa
Glencore says long-term strategy may involve sale of Bunge stake https://t.co/Yo6jrWqL9J
Glencoreās metals traders just notched up their best half-yearly performance on record, yet their energy and coal-trading peers struggled to even turn a profit https://t.co/zy1RljSQUJ