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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Glencore plc    GLEN   JE00B4T3BW64

GLENCORE PLC

(GLEN)
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Glencore Says No Material Disruption to Businesses, Supply Chain from Pandemic

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03/20/2020 | 10:27am EDT

By Ian Walker

 

Glencore PLC said Friday that there hadn't been any material disruptions to its businesses or supply chain, but certain smaller operations were affected by restrictions made by governments around the world in reaction to the coronavirus pandemic.

The Anglo-Swiss commodities giant--one of the world's biggest producers of raw materials such as copper, cobalt and coal--added that its marketing business is delivering annualized earnings before interest and tax within its long-term guidance of $2.2 billion to $3.2 billion a year.

Glencore added that liquidity has increased since the start of the year to due lower working capital requirements, weakening of currencies against the U.S. dollar and falling oil prices. It had $10 billion of undrawn credit and cash at the end of 2019.

Earlier this week Glencore postponed its annual general meeting which was due on May 6 after the Swiss Federal Council's decree banning public meetings. It said Wednesday that the company must hold meeting by June 30 under its articles of association, and will provide a new date by the end of May.

London-listed shares at 1505 GMT were up 5.64 pence, or 4.8%, at 122.94 pence.

 

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

 

Stocks mentioned in the article
ChangeLast1st jan.
BYD COMPANY LIMITED -1.47% 43.5 End-of-day quote.11.97%
EURO / US DOLLAR (EUR/USD) 0.04% 1.11069 Delayed Quote.-1.21%
GLENCORE PLC -4.72% 149.82 Delayed Quote.-36.34%
NEXT -4.29% 4864 Delayed Quote.-30.69%
SILVER 0.00% 17.851018 Delayed Quote.-2.32%
WORLD CO., LTD. -3.03% 1567 End-of-day quote.-41.77%
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Financials (USD)
Sales 2020 174 B - -
Net income 2020 569 M - -
Net Debt 2020 31 559 M - -
P/E ratio 2020 32,3x
Yield 2020 4,89%
Capitalization 24 449 M 24 438 M -
EV / Sales 2019
EV / Sales 2020 0,32x
Nbr of Employees 89 092
Free-Float 75,5%
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 2,45 $
Last Close Price 1,85 $
Spread / Highest target 96,8%
Spread / Average Target 32,6%
Spread / Lowest Target -61,6%
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Managers
NameTitle
Ivan Glasenberg Chief Executive Officer & Executive Director
Anthony Bryan Hayward Independent Non-Executive Chairman
Steven F. Kalmin Chief Financial Officer
Peter Roland Coates Non-Executive Director
Leonhard Heinrich Fischer Independent Non-Executive Director
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