Glencore Plc Unsp/Adr (GLNCY) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to the Glencore 2024 Half Year Results Conference Call and Webcast. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be the question and answer session. To ask a question during the session, you need to press star 11 on your telephone keypad. You will then hear an automatic message advising your hand is raised. To withdraw a question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to our first speaker today, Martin Fewings, Head of Investor Relations. Please go ahead. Good morning, good afternoon. Thank you for joining us from wherever you are. Welcome to our first half 2024 results presentation. Joining us today, Gary Nagel, CEO, and Stephen Kalman, CFO. I'll hand over to Gary to commence the call. Thanks, Martin. Good morning, good afternoon, good evening, wherever you are, wherever you're dialing in from. In addition to Steve, we've got Xavier Wagner here as well, our CRO. So anything operational or operational results, we can revert to him. But I think we'll just kick off immediately in the presentation. Those following it on the screen or if you have a printout or a copy in front of you, we'll start on page four. The very pleasing financial results. This is the normal scorecard that we put out, so it should be familiar to most of you. And an adjusted EBITDA for the first half of a little under $6.5 billion, $6.3 billion. If we break that down a little bit into the components, on an industrial side, adjusted industrial EBITDA at $4.5 billion, that's obviously down off last year and predominantly driven by two main factors, one being the lower earnings in coal. We've seen coal pri...