Gunvor Group Ltd
Gunvor Group 2015 Results
GENEVA, SWITZERLAND--(Marketwired - March 22, 2016) - Gunvor Group Ltd ("Gunvor"), one of the world's leading independent commodities trading houses, today released results for the year ended 31 December 2015:
- Total trading volumes increased to 180 million MT from 137 million MT the year prior.
- Revenue for 2015 was US $64 billion, a decrease from US $88 billion in 2014, reflecting the prolonged decline in the price of commodities.
- Net profit after taxes for 2015 was US $1.25 billion, which included impairments, such as a write-down of all coal mining assets, as well as the positive results of asset divestments and strong underlying earnings from trading and refining operations, which increased year-over-year by 10 percent.
- EBITDA also rose about 14 percent to US $860 million from US $752 million the year prior.
"It is a credit to the company's broadening management structure that Gunvor has emerged stronger over the past year, despite the challenges we've faced," said Gunvor Group CEO TorbjÃ¶rn TÃ¶rnqvist. "We've seen an increase in volumes, an increase in earnings from trading, and continued geographic diversification. We're very well positioned to operate in current market conditions."
Throughout 2015, Gunvor continued a series of planned divestments of Russian assets, which is now complete. Gunvor also continues to assess new asset investments, having most recently acquired a crude oil refinery in Rotterdam, The Netherlands. The company is now responsible for more than 1,000 refining jobs in Europe and approximately 275,000 b/d of installed refining capacity.
About Gunvor Group
Gunvor Group is one of the world's largest independent commodities trading houses by turnover, creating logistics solutions that safely and efficiently move physical energy, metals and bulk materials from where they are sourced and stored to where they are demanded most. With strategic investments in industrial infrastructure-refineries, pipelines, storage, terminals, mining and upstream-Gunvor further generates sustainable value across the global supply chain for its customers. More information can be found at www.gunvorgroup.com or @Gunvor.
Seth Thomas Pietras
+41 79 870 6290
Information om Marketwired
Følg pressemeddelelser fra Marketwired
Skriv dig op her, og modtag pressemeddelelser på e-mail. Indtast din e-mail, klik på abonner, og følg instruktionerne i den udsendte e-mail.
Flere pressemeddelelser fra Marketwired
Bombardier Transportation28.5.2018 18:18 | Pressemeddelelse
Bombardier Presents the New TRAXX DC3 Locomotive
Bombardier Transportation15.5.2018 02:51 | Pressemeddelelse
Bombardier's Real-Time Passenger Load Display Software Solution Launches in Singapore
Bombardier Inc.3.5.2018 22:49 | Pressemeddelelse
Bombardier Announces the Election of its Board of Directors, Pays Tribute to Former CEO and Chairman Laurent Beaudoin
Bombardier Inc.3.5.2018 14:04 | Pressemeddelelse
Bombardier Reports First Quarter 2018 Results, Announces Sale of Downsview Property and plans for new Centre of Excellence for Global Aircraft
Bombardier Inc.2.5.2018 16:22 | Pressemeddelelse
REMINDER/Media Advisory: Bombardier to Report its First Quarter 2018 Financial Results and to Hold its Annual Meeting of Shareholders on Thursday, May 3
Bombardier Inc.23.4.2018 22:11 | Pressemeddelelse
Media Advisory: Bombardier to Report its First Quarter 2018 Financial Results and to Hold its Annual Meeting of Shareholders on Thursday, May 3
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter samt finde vores kontaktoplysninger.Besøg vores nyhedsrum