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
Anglo American completes demerger of Valterra Platinum
(Posted on 06/06/25)Anglo American plc has announced that it has completed the demerger of c.51% of the Company’s... Read more
Western Range iron ore mine in Pilbara opened with Yinhawangka owners
(Posted on 06/06/25)Rio Tinto has officially opened its newest iron ore mine, Western Range, with Western Australian Premier... Read more
Heidelberg presents Strategy 2030 to accelerate profitable growth
(Posted on 02/06/25)Heidelberg Materials has presented its “Strategy 2030: Making a Material Difference” at... Read more
Continued stability forecast for EU compound feed production
(Posted on 31/05/25)The European Feed Manufacturers' Federation (FEFAC) market experts have forecast continued stability... Read more
US grain and feed industry concerned about initial MAHA report
(Posted on 31/05/25)The Make America Healthy Again (MAHA) Commission has released a report that outlined potential contributors... Read more
First gallium extraction from Rio Tinto/Indium alumina refining process
(Posted on 15/05/25)Rio Tinto and its new partner Indium Corporation have successfully extracted the first primary gallium... Read more
Anglo American appoints Tom McCulley as Technical Director
(Posted on 15/05/25)Anglo American has appointed Tom McCulley as Technical Director. Tom McCulley’s appointment follows... Read more
SSAB invests $74 Million to expand steel production in Alabama
(Posted on 07/05/25)Highly-specialised global steel company, SSAB has announced a significant investment of approximately... Read more
GGC welcomes new Canadian government and urges farm priorities action
(Posted on 01/05/25)Grain Growers of Canada (GGC) has welcomed Prime Minister Mark Carney and all Members of Parliament... Read more
US Soybean growers disappointed in 2;4-D Anti-Dumping and Countervailing Duties vote
(Posted on 30/04/25)The International Trade Commission in the USA has voted in favour of imposing final anti-dumping (AD... Read more
