Sailors SocietyTelestackTOC EventsViganCleveland Cascades LtdPort of South Louisiana
  • TOC Events
  • TBA Group
  • The Wolfson Centre for Bulk Solids Handling Technology
  • Port of Vancouver USA
  • Cimbria
  • Port of Stockton

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

NZAS reaches extension deal with Meridian

(Posted on 14/01/21)

Rio Tinto has reached an agreement on a new electricity agreement with Meridian Energy that allows New... Read more


AISI updates six cold-formed steel design standards

(Posted on 10/01/21)

The American Iron and Steel Institute (AISI) has updated six cold-formed steel design standards.AISI... Read more


NGFA announces Seyfert as new President and CEO

(Posted on 05/01/21)

The National Grain and Feed Association (NGFA) in the USA has announced that Michael J. Seyfert will... Read more


Joint statement from PKKP and Rio Tinto

(Posted on 28/12/20)

Rio Tinto and the Puutu Kunti Kurrama and Pinikura people (PKKP) confirm they have taken initial steps... Read more


2021 Coal demand rebound set to be short-lived

(Posted on 22/12/20)

A global economic recovery in 2021 is expected to drive a short-lived rebound in coal demand following... Read more


NGFA commends Congress for waterways provisions

(Posted on 22/12/20)

The National Grain and Feed Association (NGFA) in the USA has commended Congress for including key inland... Read more


Rio Tinto appoints Stausholm as CEO

(Posted on 17/12/20)

Rio Tinto has appointed Jakob Stausholm as chief executive, effective 1 January 2021. Since joining... Read more


Rusal a preferred supplier to Hyundai Sungwoo

(Posted on 17/12/20)

RUSAL, a leading global aluminium producer, is pleased to announce that Hyundai Sungwoo Holdings Co,... Read more


Rio Tinto declares maiden Ore Reserve at Jadar

(Posted on 10/12/20)

Rio Tinto has disclosed to the Australian Securities Exchange (ASX) a maiden Ore Reserve and updated... Read more


Shell wins BHP iron ore vessels LNG supply agreement

(Posted on 06/12/20)

BHP has awarded its first LNG supply agreement for five LNG-fuelled Newcastlemax bulk carriers, which... Read more


TBA GroupPort of StocktonCimbriaThe Wolfson Centre for Bulk Solids Handling Technology Bühler GmbHPort of Vancouver USA
  • Sailors Society
  • Vigan
  • Bühler GmbH
  • Telestack
  • Cleveland Cascades Ltd

Subscribe to our newsletter

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