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
Skrive dig op her og du vil løbende modtage pressemeddelelser på mail. Indtast din mail, klik på abonner og følg instruktionerne i den udsendte mail.
Flere pressemeddelelser fra Marketwired
General Electric Company12.12.2017 08:01 | pressemeddelelse
General Electric Company: Doc re. GE files Form 8-K
Bombardier Inc.11.12.2017 16:42 | pressemeddelelse
REMINDER/Media Advisory: Bombardier to Hold Investor Day
General Electric Company11.12.2017 08:02 | pressemeddelelse
General Electric Company: Dividend Declaration
Rinspeed6.12.2017 15:18 | pressemeddelelse
CES Las Vegas 2018: Rinspeed Snap -- the sum of its parts is greater than the whole
Algeco Scotsman5.12.2017 16:42 | pressemeddelelse
Algeco Scotsman Announces Cancellation of Certain Senior Secured Notes and Senior Unsecured Notes
CENX5.12.2017 15:01 | pressemeddelelse
CENX Named Among '50 Fastest Growing Tech Companies 2017' by The Silicon Review Magazine
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter, og finde vores kontaktoplysninger.Besøg vores nyhedsrum