Cleveland Cascades LtdPort of Vancouver USATBA GroupCimbriaTelestackTMS Tanker Conference 2020
  • TBA Group
  • TMS Tanker Conference 2020
  • Sailors Society
  • Port of Vancouver USA
  • Port of Stockton
  • Vigan

Bunge Reports First Quarter Results

Bunge Reports First Quarter Results

(Posted on 02/05/18)

Bunge Limited has reported a Q1 GAAP EPS of $(0.20); $(0.06) on an adjusted basis that includes $120 million of

negative mark-to-market on forward oilseed crushing contracts.

Higher Food and Ingredients results was driven by lower costs and stronger demand

Soren Schroder, Bunge's Chief Executive Officer, commented, "During the first quarter, we saw a

dramatic change in the global soy crush market environment as margins expanded significantly from

2017 levels. Our teams managed the rapidly changing environment well and positioned the company for

a strong performance for the balance of the year. In times like these, when trade flows and capacities

shift among regions, the value of our global footprint and capabilities are demonstrated. In Food &

Ingredients, results were better than expected with improvement in most regions. Looking ahead, we

expect significant growth in Company earnings and returns in 2018.

Schroder continued, “We closed on Loders Croklaan during the quarter, which now positions us as a

global leader in B2B oils, and when fully integrated will nearly double the size of our Edible Oils business.

We also strengthened our milling footprint in the U.S. with the acquisition of two corn masa mills. These

investments increase results from value added activities closer towards our targeted level of 35 percent.

In addition, we continue to progress towards the separation of our Brazilian sugarcane milling business.

We have recently secured debt financing for the business and are now in a position where the business

could operate on a stand-alone basis.

“We also made solid progress on our cost objectives. Our Global Competitiveness Program is on track

towards our target of $100 million this year. And, over the course of the year, we expect an additional $80

million of savings from industrial and supply chain initiatives."

The agribusiness environment improved dramatically from conditions seen last year with reduced

soybean supplies in Argentina and tightening global grain supplies, leading to increased volatility and

improved margins, especially in soy crushing.

In Grains, higher results were driven by global trading & distribution, which benefitted from increased

margins and effective risk management. Origination results were comparable to last year as improved

performance in Brazil, which benefitted from increased farmer commercialisation as local soy prices rose,

offset lower results in North America and Argentina.

Latest News

US waterways bill commended

(Posted on 31/07/20)

The National Grain and Feed Association (NGFA) has commended the US Congress for passing by a unanimous... Read more


Rusal completes smelter transition

(Posted on 31/07/20)

RUSAL, a leading global aluminium producer, has announced that its Krasnoyarsk Aluminium Smelter (KrAZ... Read more


Rio Tinto releases Q2 production results

(Posted on 22/07/20)

Rio Tinto has achieved a robust production performance with volumes up 1% compared with the second quarter... Read more


USA to digitise barge industry transactions

(Posted on 16/07/20)

The National Grain and Feed Association (NGFA) in the USA has announced its official partnership with... Read more


Fertilizer producers to aid hydrogen economy

(Posted on 16/07/20)

The European fertilizer industry has welcomed the EU Hydrogen Strategy and particularly the recognition... Read more


NZAS to wind-down operations

(Posted on 10/07/20)

Rio Tinto will start planning for the wind-down of operations and the eventual closure of New Zealand... Read more


Oyu Tolgoi mine confirms project schedule

(Posted on 06/07/20)

Oyu Tolgoi LLC has completed an updated feasibility study (OTFS20) and is in the process of submitting... Read more


Rusal publishes sustainability report

(Posted on 06/07/20)

RUSAL, a leading global aluminium producer, has published its annual Sustainability Report on the Hong... Read more


Cargill joins decarbonising research centre

(Posted on 30/06/20)

Cargill has joined leading players across the global maritime industry to launch the Maersk Mc-Kinney... Read more


Oyu Tolgoi mine power agreement

(Posted on 30/06/20)

Rio Tinto, Turquoise Hill and the Government of Mongolia have reached an agreement on the preferred... Read more


TMS Ship Finance & Trade Conference 2020TMS Webinar Series COVID-19: A Leadership Perspective - Spotlight on Offshore, Oil & GasThe Wolfson Centre for Bulk Solids Handling Technology TMS Awards 2020Port of StocktonTOC Events
  • TMS Awards 2020
  • TMS Webinar Series COVID-19: A Leadership Perspective - Spotlight on Offshore, Oil & Gas
  • The Wolfson Centre for Bulk Solids Handling Technology
  • Cleveland Cascades Ltd

Subscribe to our newsletter

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