Glencore Plc · LSE:GLEN
Glencore — Q1 2011 Earnings Presentation
8 slides from Glencore's earnings presentation, Jun 14, 2011
Slide 1: First quarter 2011 results
First quarter 2011 results 14 June 2011
Slide 2: Key financial highlights
Key financial highlights US$ million Q1 2011 Q1 2010 % change R Revenue 44 226 44,226 31 729 31,729 39% Adjusted EBITDA (1) 2,027 1,389 46% Adjusted EBIT (2) 1,761 1,214 45% Glencore net income (3) 1,301 886 47% Operating cash flow before working capital changes 1,494 1,017 47% u ds from Funds o ope
Slide 3: Marketing activities
Marketing activities Overall marketing EBIT up 37% vs. Q1 2010 at $675 million There continues to be healthy ygglobal demand and trade flows which support pp marketing g activities (US$ million) Metals and Minerals EBIT down 20% Metals & Minerals − Particularly strong comparative in Q1 2010 33
Slide 4: Industrial activities
Industrial activities Overall industrial activities EBIT up 50% vs. Q1 2010 at US$1,086 million Total zinc production (from own sources) up 55% (US$ million) Metals & 508 Minerals Total copper production (from own sources, excluding Mutanda) up 336 8% Kazzinc Ka inc oown n gold prod producti
Slide 5: Key growth assets – continued progressive ramp-up
Key growth assets – continued progressive ramp-up Own production (‘000 MT) Total zinc production of 74 k MT, consistent with first quarter 2010 58 Kazzinc 53 Zinc production using feed from own mining sources up 10% due to increased ore processed from the Shaimerden deposit Q1 2010 Zinc Q1 2011
Slide 6: Key growth assets – continued progressive ramp-up
Key growth assets – continued progressive ramp-up Completion of second SXEW circuit in April 2011, bringing capacity to 40 kt Mutanda pp cathode copper Further ramp-up to 60 kt copper cathode capacity by end of August 2011 Annualised 110 kt by end of first quarter 2012 Aseng oil field develo
Slide 7: Outlook
Outlook Marketing Performance expected to continue to benefit from − Market M k t volatility l tilit and d titight ht supply l conditions diti iin some commodities diti − Diversified business model and product mix − Production ramp up at Glencore's own industrial assets Industrial Expansion of h
Slide 8: Disclaimer
Disclaimer This announcement does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or S b ib for Subscribe f any securities. iti Th making The ki off this thi announcementt does d nott constitute tit t a recommendation d ti regardi