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Commodity volatility lifts Trafigura’s half-year profit to record €2.51bn

MADRID, 10 (EUROPE PRESS)

The trading company of raw materials Trafigura registered a net profit of 2,659 million dollars (2,510 million euros) in the whole of its first fiscal semester, ended in March, which represents an increase of 26.9% compared to the same period of the previous year, as reported by the company on Friday.

The company has highlighted that it has achieved these results in “extremely challenging times” for global markets due to high price volatility, supply chain problems and the war in Ukraine.

Revenues between October and March were 170,609 million dollars (161,262 million euros), 73.4% more than in the same period of the previous year. This large increase is due to higher average prices of raw materials, as well as higher trade volumes.

By business segments, the energy division experienced an increase in its turnover of 92.9%, to 112,903 million dollars (106,718 million euros), while the metals and minerals branch recorded revenues of 57,706 million (54,544 million euros), 44.8% more.

On its side, the cost of materials, transport and storage grew by 76.2%, to 164,191 million (155,196 million euros), while personnel costs were 830 million (785 million euros), a 9.8% less, and the contracting of external services rose to 940 million (889 million euros), 49.7% more.