Glencore Plc Posts Loss In 2015 - Quick Facts

(RTTNews) - Glencore plc (GLCNF.PK, GLNCY.PK, GLEN.L) reported a loss before income taxes of $8.02 billion for the year ended 31 December 2015 compared to profit of $4.25 billion, a year ago. Loss to equity holders was $4.96 billion compared to profit of $2.31 billion. Loss per share was $0.37 compared to profit of $0.18. In 2015, Glencore recognised a net $6.31 billion of significant items, including $460 million of largely foreign exchange related income tax expense adjustments.

Income attributable to equity holders, pre-significant items, decreased to $1.34 billion from $4.28 billion, prior year. Basic earnings per share, pre-significant items, decreased to $0.10 from $0.33.

The Group reported 2015 adjusted EBITDA of $8.7 billion, down 32% on 2014, due to substantially weaker commodity prices, partially offset by cost efficiencies and favourable producer country currencies. Marketing EBITDA was down 11% to $2.7 billion, while Industrial EBITDA was down 38% to $6.0 billion.

Revenue decreased to $170.50 billion from $221.07 billion, last year.

For 2016, the Group's marketing EBIT guidance is unchanged at $2.4-2.7 billion. The Group is confident of achieving $4-5 billion of asset disposals during the remainder of 2016.