Port of StocktonBühler GmbHVan AalstGeneva DryTBA GroupTelestack
  • Vigan
  • Bühler GmbH
  • Van Aalst
  • Port of Stockton
  • Sailors Society
  • TMS Awards 2023

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

Metso invests in China to strengthen screen offering for mining and aggregates

(Posted on 15/02/25)

Metso is investing in the expansion of its screening solutions in China. Metso is a frontrunner in sustainable... Read more


Cemex announces CEO transition

(Posted on 13/02/25)

Cemex has announced that its CEO, Fernando A. González, has decided to retire after a successful... Read more


EUROFER: Trump’s tariffs will exacerbate already dire market environment

(Posted on 11/02/25)

European Steel Association (EUROFER) President, Dr. Henrik Adam has released a statement on U.S. steel... Read more


Canadian steel producers concern at Trump’s tariff threat

(Posted on 10/02/25)

Canadian Steel Producers Association President and CEO, Catherine Cobden has released the following... Read more


Cargill moves to take full control of SJC Bionergia

(Posted on 07/02/25)

Cargill continues to advance its growth strategy in the Brazilian market and reinforces its investment... Read more


Anglo American completes sale of minority interest in Jellinbah for A$1.6 billion

(Posted on 31/01/25)

Anglo American plc has announced the completion of the sale of its 33.3% minority interest in Jellinbah... Read more


Rivera now MD of Cremer Erzkontor Mexico

(Posted on 30/01/25)

Rafael Rivera has been appointed the new Country Manager Mexico of the end-to-end raw materials supplier... Read more


Rio Tinto provides Iron Ore update following Tropical Cyclone Sean

(Posted on 24/01/25)

Tropical Cyclone Sean delivered record rain along parts of the Pilbara coastline of Western Australia... Read more


Rio Tinto shows greater consistency across key operations

(Posted on 19/01/25)

Rio Tinto has released fourth quarter production results. Chief Executive Jakob Stausholm said: &ldquo... Read more


Trafigura publishes 2024 Sustainability Report

(Posted on 19/01/25)

Trafigura Group Pte Ltd. has published its 2024 Sustainability Report, highlighting the Group’... Read more


ViganPort of South LouisianaSailors SocietyTMS Awards 2023Cimbria
  • Geneva Dry
  • Port of South Louisiana

Subscribe to our newsletter

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