Glencore’s FY2015 results again reiterate the fact that its Xstrata acquisition in 2013 was a big strategic mistake. While the group had been in a denial mode until mid-2015, a slew of measures implemented since then (facilitating massive deleveraging) have helped revive the trader-cum-miner’s long-term sustainability prospects. *Trading top-line as badly hit as mining…* Sales: H2 15 – $85bn (-21% yoy, -1% hoh); 2015 – $170bn (-23%; 0.5% ahead of AV estimates) B
02 Mar 2016
Despite operating woes, deleveraging continues unabated
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Despite operating woes, deleveraging continues unabated
Glencore plc (GLEN:LON) | 436 28.6 1.5% | Mkt Cap: 53,204m
- Published:
02 Mar 2016 -
Author:
Varun Sikka -
Pages:
4
Glencore’s FY2015 results again reiterate the fact that its Xstrata acquisition in 2013 was a big strategic mistake. While the group had been in a denial mode until mid-2015, a slew of measures implemented since then (facilitating massive deleveraging) have helped revive the trader-cum-miner’s long-term sustainability prospects. *Trading top-line as badly hit as mining…* Sales: H2 15 – $85bn (-21% yoy, -1% hoh); 2015 – $170bn (-23%; 0.5% ahead of AV estimates) B