Half Year 2020 Glencore PLC Earnings Call Transcript
Ladies and gentlemen, thank you for standing by, and welcome to the Glencore Half Year Results 2020 Webcast and Conference Call. (Operator Instructions) I must advise you that this conference is being recorded today, Thursday, the 6th of August 2020.
I would now like to hand the conference over to your speaker today, Ivan Glasenberg. Please go ahead, sir.
Good morning. Thank you for attending the call. And as you will see from the slides, I'll start off on the first part of the presentation on the 2020 half year scorecard. And as you will see, it's a strong performance under challenging conditions because of the COVID-19 situation.
As you'll see, our business model once again has a resilient cash generation. Group adjusted EBITDA is $4.8 billion, which is down 13%, and this is basically in line with lower prices and some production issues around COVID-19 and the cost impact thereof. This is offset by strong marketing performance, which we will talk about later. But -- and cash generated from
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