Glencore plc

Public consensus   -   Last updated 12/02/19

Reporting currency: USD
Reporting unit: Millions
FY18
CONSENSUS
12/02/19
Financials ($M)
Marketing Adjusted EBITDA
2,807
Marketing Adjusted EBIT
Metals and minerals
2,056
Energy products
733
Agricultural products
71
Corporate and other
(176)
Total Marketing Adjusted EBIT
2,682
Industrial Adjusted EBITDA
Copper
4,867
Zinc
2,280
Nickel
868
Ferroalloys
632
Aluminium/Alumina
3
Iron ore
1
Coal
5,035
Oil
142
Agri
-
Corporate and other
(463)
Total Industrial Adjusted EBITDA
13,333
Industrial Adjusted EBIT
7,203
Total Adjusted EBITDA
16,140
Total depreciation
6,254
Total Adjusted EBIT (pre JV)
9,886
JV adjustment
(427)
Total Adjusted EBIT - reported measure
9,480
Interest expense - net
(1,488)
Income tax expense
(1,993)
Non-controlling interest
87
Income before significant items
6,087
Shares
Shares (M)
14,105
Shares (diluted) (M)
14,177
EPS (Basic, pre other significant items) - $ cent
43.2
EPS (Diluted) - $ cent
43.0
Balance Sheet & Cashflow
Gross debt
33,965
Cash and cash equivalents
(730)
Net Funding
33,517
RMI
(19,995)
Net Debt (defined by Glencore)
13,521
Dividend (USc/share)
19.31
Expansion Capex
Total Expansion Capex
1,503
Sustaining Capex
Total Sustaining Capex
3,406
Marketing capex (incl. capitalised interest)
363
Total Group Capex
4,749
Industrial Production (own sources)
Total group production own sources
Total Copper (kt)
1,459.1
Total Zinc (kt)
1,064.4
Total Lead (kt)
279.3
Total Nickel (kt)
124.6
Total Gold (koz)
946
Total Silver (koz)
35,039
Total Cobalt (kt)
42.0
Total Ferrochrome (kt)
1,597
Total Platinum (koz)
81
Total Palladium (koz)
104
Total Rhodium (koz)
10
Total Vanadium Pentoxide (Mlb)
18.4
Coal production from own sources (Mt)
Australian Coking coal
7.7
Australian Semi-soft coal
3.9
Australian thermal coal (export)
60.4
Australian thermal coal (domestic)
8.9
South African thermal coal (export)
17.5
South African thermal coal (domestic)
10.1
Prodeco
12.1
Cerrejon
10.3
Total Coal department
130.8
Oil production Glencore entitlement (kbbl)
Equatorial Guinea
1,873
Chad
2,865
Commodity prices and exchange rates
Commodity Prices
Copper price ($/t)
6,126
Zinc price ($/t)
2,740
Lead price ($/t)
2,101
Nickel price ($/t)
12,336
Gold price ($/oz)
1,271
Silver price ($/oz)
16
Cobalt price ($/lb)
33
Ferrochrome (c/lb)
119
Platinum ($/oz)
875
Iron ore price ($/DMT)
70
AU - HCC Realised Export Price ($/t)
172
AU - SS Coal Realised Export Price ($/t)
133
AU - Th Coal Realised Export Price ($/t)
99
AU - Th Coal Realised Domestic Price ($/t)
40
SA - Th Coal Realised Export Price ($/t)
94
SA - Th Coal Realised Domestic Price ($/t)
26
Prodeco - Th Coal Realised Export Price ($/t)
94
Cerrejon - Th Coal Realised Export Price ($/t)
87
Oil price ($/bbl)
71
Exchange rates
AUD:USD
0.75
USD:KZT
340.51
USD:ZAR
12.53
USD:CAD
1.20

Disclaimer

Glencore invites registered sell-side analysts that monitor Glencore’s shares to submit their forecasts to an external web-based tool independently managed by Vuma Financial Limited (VUMA), a company independent of Glencore.

The consensus figures are an aggregation of publicly available forecasts collated exclusively by VUMA, but only on the basis of information submitted by those analysts who choose to participate. The consensus figure for a particular item represents the arithmetic average of all figures for that item submitted to VUMA by analysts. VUMA has no access to Glencore’s internal forecasts, budgets or any other information which is not publicly available.

The consensus figures are not based on Glencore’s own opinions, estimates or forecasts and are compiled and published without comment from, or endorsement or verification by Glencore. The consensus figures do not necessarily reflect guidance provided from time to time by Glencore where given in relation to equivalent metrics, which to the extent available can be found on the Glencore website.

By enabling publication of the consensus figures and referencing the same on its website, Glencore does not imply that it endorses, confirms or expresses a view on the consensus figures. The consensus figures are provided for informational purposes only and are not intended to, nor do they, constitute investment advice or any solicitation to buy, hold or sell securities or other financial instruments. No warranty or representation, either express or implied, is made by Glencore or its affiliates, or their respective directors, officers and employees, in relation to the accuracy, completeness or achievability of the consensus figures and, to the fullest extent permitted by law, no responsibility or liability is accepted by any of those persons in respect of those matters. Glencore assumes no obligation to update, revise or supplement the consensus figures to reflect circumstances existing after the date hereof.

Glencore does not accept any liability whatsoever for reliance upon, or actions taken based on, any of the information set out in these consensus figures. The consensus figures are forward-looking and as such are speculative and rely on assumptions and events in the future (some or all of which may not be satisfied or may not occur).

The consensus figures do not take into consideration the investment objectives, financial situation or particular needs of any particular investor. Before making an investment decision, a prospective investor should consider its particular investment needs, objectives and financial circumstances, and should seek appropriate professional advice, tailored to the investor's circumstances. Any investment in securities is subject to investment risks.

Ahead of the release of each of Glencore’s Quarterly Production Reports, sell-side analysts who follow the Company are requested to submit their estimates to VUMA. The consensus figures therefore represent only the estimates of these analysts who contribute (not necessarily being the same analysts that contributed to consensus figures for previous quarters). Analyst estimates can change significantly from time to time, as commodity prices and foreign exchange rates, among other things, can change rapidly. Any such changes in analysts’ estimates will not be reflected in the consensus figures published on VUMA’s website until these analysts submit their updated forecasts ahead of the release of Glencore’s next Quarterly Production Report. No analyst who has entered its estimates into VUMA after the end of the prior reporting period has been excluded from the aggregate consensus figures for that reporting period.