Feb 18, 2020 / 08:00AM GMT
Martin Fewings - Glencore plc - Head of IR & Communications
Good morning. Welcome to our 2019 Preliminary Results. Today, we have Ivan Glasenberg, our CEO; and Steve Kalmin, our CFO, with us today. Thank you for joining us.
And Ivan, I'd like to invite you up. Thank you.
Ivan Glasenberg - Glencore plc - CEO & Director
Thank you. Morning. Thank you for coming for our 2019 results.
So looking at the highlights for 2019, healthy cash generation during the year. And as you'll see, 2019 adjusted EBITDA was $11.6 billion. That's down 26% from the previous year, and the major part of that is due to the lower commodity prices during the year. And as you note, copper was down about 8%, zinc down 13%, nickel slightly up 6%. Cobalt was the big one, down 57%. And if you take the Newcastle coal, down round about 27%. However, we still generated a large amount of cash and operating cash from our assets. And trading gave us -- sorry, gave us around about $10.3 billion. That's down 22% from the previous year.
Shareholders' return, we
Full Year 2019 Glencore PLC Earnings Call Transcript
Feb 18, 2020
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