CimbriaPort of South LouisianaViganSailors SocietyThe Wolfson Centre for Bulk Solids Handling Technology Port of Stockton
  • TBA Group
  • Port of Stockton
  • Cleveland Cascades Ltd
  • Port of South Louisiana
  • Sailors Society
  • TOC Events

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

Tomaschewski to lead Asia region at Possehl Erzkontor

(Posted on 01/10/22)

Lübeck-based end-to-end service provider for raw materials Possehl Erzkontor, has appointed Nicol... Read more


Rio Tinto starts Quebec lithium concentration plant

(Posted on 01/10/22)

Rio Tinto has started producing spodumene concentrate, a mineral used in the production of lithium for... Read more


Amogy and Trafigura to research ammonia cracking technology

(Posted on 25/09/22)

Amogy Inc., a pioneer of emission-free, energy-dense ammonia power solutions, and Trafigura, one of... Read more


Rio Tinto and Shougang Group explore steel decarbonisation

(Posted on 25/09/22)

Rio Tinto and Shougang Group, one of the world’s top 10 steel producers, have signed a Memorandum... Read more


Rio Tinto partners Volvo for low-carbon and autonomous solutions

(Posted on 15/09/22)

Rio Tinto and Volvo Group have signed a Memorandum of Understanding (MoU) to create a strategic partnership... Read more


Emergency measures required now to avert European steel crisis

(Posted on 09/09/22)

The European steel industry has called on EU policymakers to provide immediate relief against high energy... Read more


Europe’s fertilizer industry victim of energy chaos

(Posted on 07/09/22)

Rocketing gas prices have led to curtailment or shutdown of a majority of European fertilizer production... Read more


Cargill launches Asia Pacific digital studio to accelerate food/ag innovation

(Posted on 07/09/22)

Cargill is partnering with the Singapore Economic Development Board (EDB) to launch its first digital... Read more


Tata and Punjab Government to set up scrap based EAF steel plant

(Posted on 03/09/22)

Tata Steel has signed a Memorandum of Understanding (MoU) with the Government of Punjab for setting... Read more


Turquoise Hill transaction Agreement in Principle with Rio Tinto

(Posted on 01/09/22)

Turquoise Hill Resources Ltd. has announced that it has reached an agreement in principle and entered... Read more


TelestackBühler GmbHVan AalstCleveland Cascades LtdTOC EventsTBA Group
  • Telestack
  • Bühler GmbH
  • Van Aalst
  • The Wolfson Centre for Bulk Solids Handling Technology
  • Cimbria

Subscribe to our newsletter

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