Glencore PLC (OTCPK:GLNCY)
$ 11.85 -0.25 (-2.07%) Market Cap: 73.03 Bil Enterprise Value: 104.51 Bil PE Ratio: 17.43 PB Ratio: 1.64 GF Score: 84/100
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Half Year 2019 Glencore PLC Earnings Call Transcript

Aug 07, 2019 / 07:00AM GMT
Release Date Price: $5.58 (-0.89%)
Martin Fewings
Glencore plc - Head of IR & Communications

Good morning. Welcome to our first half results for 2019. Thank you for joining us here today and by webcast. This morning, we have our CEO, Ivan Glasenberg; our CFO, Steven Kalmin; and our Head of Industrial Assets, Peter Freyberg.

I'll hand over to Ivan to commence the presentation.

Ivan Glasenberg
Glencore plc - CEO & Director

Thanks, Martin. Okay. Good morning.

Okay. To give you a summary of the results for the first half, as you can see, EBITDA is $5.6 billion, which is down 32% from the previous half last year; would be $5.9 billion, pre the $350 million, which we mentioned during the production results in respect of the cobalt loss on the mark-to-market on the noncash part of that. Cash generated by operating activities before working capital changes is $5.4 billion, which is down 21% from the previous half, previous first half of last year. And net CapEx cash flow is $2.2 billion.

The ramp-up/development assets, which we all know about and talk about, which

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