Glencore plc (OTCPK:GLCNF) Q4 2024 Earnings Call February 19, 2025 3:30 AM ET
Company Participants
Martin Fewings – Investor Relations
Gary Nagle – Chief Executive Officer
Steven Kalmin – Chief Financial Officer
Conference Call Participants
Izak Rossouw – Barclays
Jason Fairclough – Bank of America
Ephrem Ravi – Citi
Alain Gabriel – Morgan Stanley
Chris LaFemina – Jefferies
Liam Fitzpatrick – Deutsche Bank
Myles Allsop – UBS
Bob Brackett – Bernstein
Matt Greene – Goldman Sachs
Alan Spence – BNP
Ben Davis – RBC
Richard Hatch – Berenberg
Alon Olsha – Bloomberg Intelligence
Martin Fewings
Good morning. Welcome. Thank you for joining us for our 2024 Financial Results. Joining today from Glencore are Gary Nagle, our CEO; and Steven Kalmin, CFO. Gary, would you like to?
Gary Nagle
One year later, now we have reading glasses. Okay. Morning. Thank you for joining us and those joining us from other parts of the world, good afternoon. Those who are here in person, we really appreciate the in-person results presentations. I always think they’re very constructive and positive. And those online, thank you for joining us.
We will follow a similar format in our presentation, and we’ll skip ahead to our scorecard for 2024, which very pleasing results, a very good year for Glencore. We finished the year with an adjusted EBITDA of $14.4 billion. Now if we split that out a bit as we always do between our marketing and our industrial business, our industrial business was very strong this year.
As you know, and as we commented in our production guidance earlier in the year or our production results earlier in the year, we met our production guidance, the initial guidance that we put out in the beginning of the year, we met that, which is a terrific achievement operationally. We printed a $10.6 billion EBITDA – adjusted EBITDA
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