2023 Half-Year Results
8 August 2023
IMPORTANT NOTICE CONCERNING THIS DOCUMENT INCLUDING FORWARD LOOKING STATEMENTS
This document contains statements that are, or may be deemed to be, "forward-looking statements" which are prospective in nature. Such statements may include, but are not limited to, statements in respect of trends in commodity prices and currency exchange rates; demand for commodities; reserves and resources and production forecasts; expectations, plans, strategies and objectives of management; climate scenarios; sustainability performance (including environmental, social and governance) related goals, ambitions, targets, intentions, visions, milestones and aspirations; approval of certain projects and consummation of certain transactions (including acquisitions and disposals); closures or divestments of certain assets, operations or facilities (including associated costs); capital costs and scheduling; operating costs and supply of materials and skilled employees; financings; anticipated productive lives of projects, mines and facilities; provisions and contingent liabilities; and tax, legal and regulatory developments.
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2023 First-half scorecard
Cash generated by
H1 2023 "top-up"
- Strong H1 performance, annualising above our long-term guidance range, albeit 52% lower than H1 2022's exceptionally strong performance with the progressive normalisation of last year's dislocations and volatility
- 2023 full year EBIT expected in the $3.5-$4.0 billion range
- Despite materially lower energy prices and cost headwinds from inflation, H1 EBITDA of $7.4 billion is the second highest first-halfperformance in the company's history (after H1 2022's $15bn result)
- EBITDA mining margin for metals of 25% (43% in H1 2022) vs coal of 50% (66% in H1 2022)
Notes: (1) Refer to basis of presentation in the Financial and Operational Review, 2023 Half-Year Report, refer to Note 2 and Alternative Performance Measures, 2023 Half-Year Report, for definition and reconciliation of Adjusted EBITDA/EBIT.
(2) Before working capital changes. (3) Refer slide 17 for calculation
2023 First-half ESG scorecard
Supporting our ambition to be a leader in environmental performance, we have published updates on our progress in three material areas, climate, water and nature:
Our ambition is to prevent fatalities, occupational diseases and injuries wherever we operate.
Unfortunately, we recorded the loss of one life at Glencore's managed operations over the year to date
tax, royalty, levy and other payments
(2021: $7.6 billion)
Under agreements with DOJ, Glencore has appointed the two independent compliance monitors and they have commenced their work. The monitorships are scheduled to last three years
overall conformance to GISTM for each of our TSFs with an 'Extreme' or 'Very High' Consequence Classification
Glencore plc published this content on 08 August 2023 and is solely responsible for the information contained therein. Distributed by, unedited and unaltered, on 08 August 2023 07:20:32 UTC.