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Public company info - Glencore Xstrata plc , 00805.HK
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Glencore Xstrata plc, 00805.HK - Company Profile
Chairman Anthony Hayward
Share Issued (share) 13,263,000,000
Par Currency U.S. Dollar
Par Value 0.01
Industry Nonferrous Metal
Corporate Profile Business Summary: Glencore is one of the world’s leading integrated producers and marketers of commodities. It has worldwide activities in the production, sourcing, processing, refining, transporting, storage, financing and supply of metals and minerals, energy products and agricultural products. Performance for the year: Net income attributable to equity holders increased from a loss of $5 billion in 2015 to a profit of $1.4 billion in 2016.Adjusted EBITDA was $10,268 million and Adjusted EBIT was $3,930 million, increases of 18% and 81% respectively compared to 2015. Business Summary: Improving market conditions Despite an uncertain start to 2016, commodities finally started reversing five years of underperformance compared to other asset classes. In this environment, the mining sector has been a significant outperformer, with the SXPP basic resources index up around 70% over the year, compared to a 17% increase for the FTSE 100 Index. China’s willingness and ability to reflate caught markets somewhat by surprise, given widespread skepticism over the sustainability of Chinese demand for commodities. This was then compounded by increasingly supportive economic conditions in other regions. Robust financial performancethe Group’s robust financial performance during 2016 (Adjusted EBITDA of $10.3 billion, up 18% on 2015) reflects the quality of the Group’s industrial asset portfolio and the resilience of the Group’s large scale diversified marketing business. Marketing Adjusted EBIT was $2.8 billion in 2016, 14% higher than 2015 and above the $2.7 billion top-end of the Group’s Q4 2016 narrowed guidance range, reflecting strong second half contributions from all three business segments. These activities continue to generate a consistent, high cash return on equity, underpinned by competitive funding rates, a stable cost base and low capex requirements. Following the sale of a 50% interest in Glencore Agriculture in late 2016, the Group’s 2017 Marketing Adjusted EBIT guidance range is $2.2 to $2.5 billion (up from $2.1 to $2.4 billion in the Group’s December 2016 update), while also reflecting such sale, the Group’s longer-term guidance range has been lowered to $2.2 to $3.2 billion. the Group’s various industrial teams responded to the challenges of low prices, delivering robust cost structures and margins within the Group’s key commodities. The industrial assets’ Adjusted EBITDA of $7.3 billion in 2016 was almost 22% higher than 2015, reflecting improving commodity prices in the latter part of the year, but mostly the delivery of material cost reductions and operational improvements. Since 2009, over $38 billion has been spent on the Group’s industrial assets, which are now extremely well positioned, with largely Tier 1 costs, scale, diversification and optionality. Prospects: the Group continue to focus on dialogue with our host communities; by supporting local training, business development and procurement; and by investment in public infrastructure such as roads and water and po the Group r distribution. the Group strive to do so while meeting our responsibility to respect human rights, as detailed by the UN Guiding Principles for Business and Human Rights. To achieve this, the Group identify and assess our human rights impacts, and maintain mechanisms at our operations to enable our host communities to raise concerns,complaints or grievances. the Group aim to deliver competitively-priced commodities that meet our stakeholders’ needs and contribute to global society. A number of our products, such as copper, cobalt and nickel, play a key role in the transition to a lower-carbon economy. the Group work to understand fully our products’ properties in order to produce, transport and store them safely, and the Group share this knowledge with our stakeholders in our value chains. Never before has the Group been so well positioned for the opportunities that lie ahead. Glencore today is a highly cash generative business, underpinned by the resilience of our marketing business, strong asset portfolio and excellent management team.

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