TOC EventsTelestackCleveland Cascades LtdBühler GmbHPort of StocktonTBA Group
  • TOC Events
  • Port of South Louisiana
  • Sailors Society
  • Vigan
  • Cleveland Cascades Ltd
  • The Wolfson Centre for Bulk Solids Handling Technology

Bulk minerals volumes up 10% as Trafigura posts strong results

Bulk minerals volumes up 10% as Trafigura posts strong results

(Posted on 13/12/22)

Trafigura Group Pte Ltd, a market leader in the global commodities industry, has released its results for its financial year ending 30 September 2022. It was a year where strong demand for its services and its ability to manage risk delivered record results.

Profit for the year of USD7,026 million was more than double the previous year’s level of USD3,075 million. Revenues increased by 38 percent to USD318,476 million from USD231,308 million in 2021. The Group’s underlying earnings before interest, tax, depreciation and amortisation (EBITDA) margin for the year was 3.8 percent, compared to 3.0 percent in 2021.

The total volume of commodities traded in 2022 was lower year-on-year. This was due to a reduction in oil and petroleum products volumes in the second half of the financial year, driven by the termination of long-term contracts for Russian crude oil and products in light of international sanctions, reduced availability of hedging in derivatives markets used to manage price risk, and a decision to focus on higher-margin opportunities.

Trafigura traded an average of 6.6 million barrels of oil and petroleum products per day in the financial year 2022, compared to the daily average of 7.0 million barrels in 2021. Non ferrous metals traded volumes were flat at 23.3 million metric tonnes, while bulk minerals volumes, driven by increased iron ore volumes, rose by 10 percent to 91.3 million metric tonnes.

The strong performance allowed for a further strengthening of the balance sheet, with Group equity almost doubling over the past two years to USD15.1 billion. An additional USD7 billion of financing was secured in financial year 2022, bringing total credit lines to USD73 billion, provided by a network of around 140 banks globally.

Jeremy Weir, Trafigura’s Executive Chairman and Chief Executive Officer said: “The past year saw our people work hard to solve the disruptions created by unprecedented market volatility and the big structural shifts that are shaping our industry. It has shown that what we do – connecting vital resources to help power and build the world – has not only become more complex but also more critical and in demand than ever before.”

Latest News

Cargill completes acquisition of Owensboro Grain Company

(Posted on 27/01/23)

Cargill has announced that it has completed the acquisition of Owensboro Grain Company, a fifth-generation... Read more


BHP selects seven companies to accelerate copper and nickel exploration

(Posted on 23/01/23)

BHP Xplor, an accelerator programme introduced by BHP in August 2022, has announced its first cohort... Read more


Trafigura makes carbon removal commitment as part of First Movers Coalition

(Posted on 16/01/23)

Trafigura Group Ptd Ltd., a market leader in the global commodities industry, has made a public carbon... Read more


Hefner assumes USGC global trade position in Washington

(Posted on 10/01/23)

Jace Hefner has joined the U.S. Grains Council (USGC) in its Washington, D.C., headquarters as the new... Read more


Cargill announces CFO transition

(Posted on 10/01/23)

Cargill has announced that Jamie Miller will step down as Chief Financial Officer to accept an opportunity... Read more


Adbri extends supply contract with ICL

(Posted on 10/01/23)

Adbri Limited has announced that it has extended its cementitious materials supply arrangement with... Read more


Dana Steel to replace imported raw materials with ‘Made in UAE’ supply

(Posted on 04/01/23)

Khalifa Economic Zones Abu Dhabi – KEZAD Group, the integrated trade, logistics, and industrial... Read more


GrainCorp to boost digital connectivity in the bush

(Posted on 23/12/22)

Australian agribusiness GrainCorp is co-leading a $12 million investment round into rural connectivity... Read more


BHP and OZ Minerals extend exclusivity period

(Posted on 20/12/22)

BHP has provided an update to its announcement on 18 November 2022 that confirmed BHP had entered into... Read more


Kaisa Hietala to join Rio Tinto Board

(Posted on 20/12/22)

Rio Tinto has appointed Kaisa Hietala as a non-executive director. Ms Hietala, a Finnish citizen, will... Read more


Van AalstSailors SocietyThe Wolfson Centre for Bulk Solids Handling Technology Port of South LouisianaCimbriaVigan
  • TBA Group
  • Bühler GmbH
  • Cimbria
  • Telestack

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping