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Glencore plc (GLEN) Ordinary Shares USD0.01

Sell:518.70p Buy:518.90p 0 Change: 1.60p (0.31%)
FTSE 100:0.56%
Market closed Prices as at close on 26 May 2022 Prices delayed by at least 15 minutes | Switch to live prices |
Change: 1.60p (0.31%)
Market closed Prices as at close on 26 May 2022 Prices delayed by at least 15 minutes | Switch to live prices |
Change: 1.60p (0.31%)
Market closed Prices as at close on 26 May 2022 Prices delayed by at least 15 minutes | Switch to live prices |
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

HL comment (15 February 2022)

Glencore's full year net profit rose to $5.0bn, from a loss of $1.9bn last year. The increase reflects higher commodity prices. Underlying cash profits (EBITDA) grew 84% to $21.3bn.

Net debt has been reduced to $6.0bn, down from $15.8bn last year. As a result, management has recommended a dividend of $0.26 per share and a $550m share buyback.

The shares rose 4.4% following the announcement.

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Full Year Results

Marketing delivered record results due to increased levels of market volatility, cash profits rose 13% to $4.2bn. In Metals and minerals, operating profits grew 50% as nearly all departments rose double digits. Strong performance from coal couldn't offset a drop in oil relative to a bumper prior year, which meant operating profits from Energy fell 21%.

Cash profits in the Industrial division grew 118% to $17.1bn, with growth across both Metals and minerals and Energy products. That reflected higher commodity prices, as the recovery of global demand and supply challenges drove prices higher. Cooper, cobalt, ferrochrome, nickel and coal were the strongest performers.

As of 31 December 2021, the ratio of net debt to underlying cash profits stood at 0.28 times.

Glencore key facts

  • Price/Book ratio: 1.29
  • Ten year average Price/Book ratio: 0.96
  • Prospective dividend yield (next 12 months): 7.1%

All ratios are sourced from Refinitiv. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn't be looked at on their own - it's important to understand the big picture.

Find out more about Glencore shares including how to invest

This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by Refinitiv. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.

This article is not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment. This article has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is considered a marketing communication. Non-independent research is not subject to FCA rules prohibiting dealing ahead of research, however HL has put controls in place (including dealing restrictions, physical and information barriers) to manage potential conflicts of interest presented by such dealing. Please see our full non-independent research disclosure for more information.

Previous Glencore plc updates

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used.

The London Stock Exchange does not disclose whether a trade is a buy or a sell so this data is estimated based on the trade price received and the LSE-quoted mid-price at the point the trade is placed. It should only be considered an indication and not a recommendation.

Trades priced above the mid-price at the time the trade is placed are labelled as a buy; those priced below the mid-price are sells; and those priced close to the mid-price or declared late are labelled 'N/A'.