Geneva DryCimbriaPort of StocktonVan AalstViganSailors Society
  • Vigan
  • Geneva Dry
  • Port of South Louisiana
  • Cimbria
  • Port of Stockton
  • Sailors Society

Trafigura releases strong half year results

Trafigura releases strong half year results

(Posted on 14/06/21)

Trafigura Group Pte Ltd, one of the world’s leading independent commodity trading companies, has released its half year results. They show a strong commercial and financial performance in what continues to be a rapidly evolving business environment, with record gross profit, EBITDA and net profit for the period ending 31 March 2021.

Revenue rose 19 percent to USD98.4 billion from the first half of 2020 as a result of increased traded volumes and higher commodity prices. Gross profit of USD4.3 billion was 54 percent higher. The even stronger rise in net profit to USD2.1 billion from USD0.5 billion in the same period last year in part reflected stabilisation of the Group’s industrial assets, which had negatively impacted results in the previous year, combined with a very strong trading performance. EBITDA was USD3.7 billion,

a 53 percent increase from a year ago.

Both principal trading divisions, Oil and Petroleum Products and Metals and Minerals, showed increased trading volumes, higher margins and larger gross profit. Gross profit margin rose to

4.3 percent from 3.8 percent when compared to the same period last year.

Market conditions, driven in large part by the economic recovery, underlined the need for reliable service providers such as Trafigura with the risk management skills, global network, physical assets and financial capacity to help customers navigate these markets.

“This outstanding first half performance reflects our continuing efforts to build customer business, expand our product footprint and adapt to structural changes across many commodity markets, driven by the energy transition,” said Trafigura’s Executive Chairman and Chief Executive Officer Jeremy Weir.

The period included the announcement of a number of key transactions, including the acquisition of a

10 percent equity stake in Russian oil and gas company Vostok Oil, as well as investments in green hydrogen, battery storage and nickel production projects, indicating the key role that the energy transition, together with the technologies and materials needed to support it are now playing in the commodity trading business.

Another notable feature of the period was a substantial strengthening of the Group’s overall financial position enabling it to handle larger trade flows. Trafigura secured access to increased bank liquidity on favourable terms, issued in the public and private EUR debt capital markets, while an increase in retained earnings strengthened Group equity and reduced leverage.

Latest News

Africa’s opportunity to build sustainable logistics networks across mining sector

(Posted on 18/07/24)

Capt. Pappu Sastry, CEO of Adhira Shipping and Logistics (ASL) has said that Africa’s mining sector... Read more


Conditions on Simandou iron ore investment now satisfied

(Posted on 16/07/24)

All conditions have now been satisfied for Rio Tinto’s investment to develop the Simandou high... Read more


ADM offers segregated, traceable soybean meal to European customers

(Posted on 12/07/24)

ADM, a global leader in innovative solutions from nature, has announced that it is offering fully verified... Read more


Rio Tinto to install carbon free aluminium smelting cells

(Posted on 04/07/24)

Rio Tinto will install carbon free aluminium smelting cells at its Arvida smelter in Québec,... Read more


Moonbound appoints ASL for long-term South African lithium logistics project

(Posted on 28/06/24)

Moonbound Mining Ltd. has appointed Adhira Shipping and Logistics (ASL) as its logistics contractor... Read more


ADM and Bayer collaboration help farmers achieve lower carbon emissions

(Posted on 19/06/24)

 ADM and Bayer have announced an extension of their collaboration, working with farmers in a bid... Read more


US House appropriations bill includes reinstatement of NASS reports

(Posted on 14/06/24)

A House appropriations subcommittee in the USA has approved its Fiscal Year 2025 bill that includes... Read more


Rio Tinto to acquire Mitsubishi’s stake in Boyne aluminium smelter

(Posted on 14/06/24)

Rio Tinto has agreed to acquire Mitsubishi Corporation’s 11.65% interest in Boyne Smelters Ltd... Read more


Richards Bay Minerals’ renewable energy agreement

(Posted on 07/06/24)

Richards Bay Minerals (RBM) has signed a renewable power purchase agreement (PPA) with Khangela Emoyeni... Read more


Trafigura half year result show core business strength

(Posted on 07/06/24)

Trafigura Group Pte Ltd, a market leader in the global commodities industry, has released its 2024 Half... Read more


TMS Awards 2023Port of South LouisianaTBA GroupBühler GmbHTelestack
  • TMS Awards 2023
  • Van Aalst
  • Telestack

Subscribe to our newsletter

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