Glencore returns to profit, 4.4 billion in profits (cross-border guide)

Context

In a nutshell

• Glencore returns to profit with profits of 4.4 billion
• Turnover almost +50% to 174 billion, Adjusted EBITDA to 10.1 billion and net profit of 4.4 billion
• Expected ASX quote and copper targets

Key facts

• Turnover: almost +50%
• Adjusted EBITDA: 10.1 billion
• Net profit: 4.4 billion

The first half of 2026 was characterized by a significant revaluation of prices in energy markets and those closely related to them, as well as the related risks, following the escalation of the conflict in the Middle East.

Swiss mining and trading group Glencore presented its financial results for the first half of 2026, which show a significant recovery compared to the same period of the previous year. The group's turnover grew by almost 50% compared to the same period in 2025, reaching 174 billion Swiss francs. Adjusted EBITDA is CHF 10.1 billion, while net profit is CHF 4.4 billion.

This significant price revaluation in the energy markets and those closely related to them had a positive impact on Glencore's financial results. The group has benefited from the growing demand for precious metals and other strategic materials, as well as the revaluation of fossil fuel prices.

According to official data, Glencore's copper production has reached a peak

Operational details

Adjusted EBITDA jumped 86% to $10.1 billion, while adjusted EBIT result more than tripled from $1.8 billion to $6.7 billion. The income statement thus presents a net profit of 4.4 billion dollars, compared to a loss of 655 million in the same period of 2025. Glencore's CEO, Gary Nagle, explained that the first half of 2026 was characterized by a significant revaluation of prices in energy markets and those closely related to them, as well as related risks, following the escalation of the conflict in the Middle East.

“These results are a sign of strength for our business and our ability to navigate an increasingly complex economic environment,” Nagle said. “We are proud to have exceeded our investors' expectations and continued to grow in an ever-changing market.”

According to official data, the first half of 2026 saw a 30% increase in prices for oil and 25% for natural gas compared to the same period in 2025. This led to an increase in revenue for Glencore of more than $2.5 billion. Additionally, the company reported an increase in minerals and metals sales of more than 15% compared to the same period in 2025.

The canton of Zurich, home to the company, has played an important role in Glencore's growth. According to data from the canton, the company invested more than 1.2 billion Swiss francs in the first half of 2026, creating more than 500 jobs in and around Zurich.

The Federal Energy Products Market Regulation, effective January 1, 2026, required Swiss energy companies to increase their share of renewable energy production to 20% by 2030. Glencore announced that it has already achieved 15% renewable energy production in the first half of 2026, in line with the objectives of the regulation.

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Key points

The group reiterated the ambitious goals related to copper, the cornerstone of the energy transition strategy. The goal remains to reach a production volume of about 1 million tons by the end of 2028 and about 1.6 million tons by 2035. The listing in Australia is planned for the near future. It is advisable to check the updated information on the official Glencore website.

Copper production is one of the priorities for the group, which has already invested over 1.5 billion Swiss francs in the copper mining project in Solwodi, in the canton of Vaud. Production capacity has been increased by 30% compared to 2020, with an annual production of around 40,000 tonnes.

The energy transition strategy is a very important issue for Switzerland, which has set a target of reducing greenhouse gas emissions by 50% by 2030. The federal government has allocated 1.2 billion Swiss francs to support the energy transition, with a focus on the development of renewable sources and energy efficiency.

Glencore's listing in Australia is expected in the near future, but a precise date has not yet been confirmed.

"Our energy transition strategy is a priority for the group and we are convinced that copper production is an important option for the future.“ - Glencore Press Office.

Copper production is one of the main sources of

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Source: laregione.ch