Trafigura announces half-year results
Amsterdam, 8th June 2015 - Trafigura Beheer B.V., ("Trafigura"), a market leader in the global commodities industry, has today announced strong financial results for the first half of its financial year ended 31 March 2015, including a record net profit and volume growth in both trading divisions, Oil and Petroleum Products and Metals and Minerals.
Net profit for the period was USD654 million, an increase of 39 percent over the figure for the same period of 2014. Gross profit rose by 58 percent year-on-year to USD1.517 billion, giving a gross trading margin of 3.1 percent, double the figure in the year-ago period.
The principal contributor to the result was the Oil and Petroleum Products division, which generated gross profit of USD1.01 billion, an increase of 77 percent over the first half of 2014. But the Metals and Minerals division also delivered an improved performance, with gross profit rising 31 percent to USD509 million.
Group revenue in the first half was 24 percent lower than a year ago at USD48.238 billion, due entirely to lower commodity prices.
Jeremy Weir, CEO of Trafigura, commented: “This is a very strong result, reflecting an excellent trading performance in the relatively favourable conditions prevailing in global oil and refined product markets, and profitable growth in both trading divisions.”
ENDS
For further information please contact:
Trafigura’s Global Press Office: +41 22 592 45 28 or media@trafigura.com
Notes to editors
Founded in 1993, the Trafigura Group has become one of the world’s leading independent commodity traders, specialising in the oil, minerals and metals markets. The company has achieved substantial growth in recent years, growing revenue to USD127.6 billion in 2014. Primary trading activities are the supply and transport of oil and petroleum products and metals and minerals. The trading business is supported by industrial and financial assets including global oil products distribution company Puma Energy; joint venture company DT Group; global terminals operator Impala; Trafigura’s Mining Group and Galena Asset Management. The Trafigura Group is owned by 600 of its 5,300 employees who work in 36 countries around the world. The Group has been connecting its customers to the global economy for more than two decades, growing prosperity by advancing trade.
