February 21, 2018 / 7:23 AM / 8 months ago

BRIEF-Glencore Posts FY Adjusted EBITDA Of $‍14.76 Bln, Recommends 2018 Distributions Of $2.9 Bln

Feb 21 (Reuters) - Glencore Plc:

* FY ADJUSTED EBITDA $‍14,762​ MILLION VERSUS $10,268 MILLION AS REPORTED YEAR-AGO

* FY BASIC EARNINGS PER SHARE $‍0.41​

* FY FUNDS FROM OPERATIONS $‍11,556​ MILLION VERSUS $7,770 MILLION AS REPORTED YEAR-AGO

* FY ‍MARKETING ADJUSTED EBIT OF $3 BILLION, UP 3%​

* FY CAPITAL EXPENDITURE $‍4,234​ MILLION VERSUS $3,497 MILLION AS REPORTED YEAR-AGO

* ‍2017 EXPANSIONARY CAPEX OF $1 BILLION, TOTAL INDUSTRIAL CAPEX OF $4 BILLION​

* NET DEBT $‍10,673​ MILLION AS AT DEC. 31, 2017 COMPARED WITH $13,873 MILLION AS AT JUNE. 30, 2017

* ‍RECOMMENDED 2018 DISTRIBUTIONS OF $2.9 BILLION ($0.20 PER SHARE)​

* FY NET INCOME ATTRIBUTABLE TO EQUITY HOLDERS $‍5,777​ MILLION VERSUS $1,379 MILLION AS REPORTED YEAR-AGO

* FY REVENUE $205,476 MILLION VERSUS $152,948 MILLION AS REPORTED YEAR-AGO

* "LOOKING AHEAD, WE MAINTAIN OUR LONG-TERM MARKETING ADJUSTED EBIT GUIDANCE RANGE OF $2.2 TO $3.2 BILLION"‍​

* "CONTINUATION OF RECENT HEALTHY MARKETING CONDITIONS WOULD SUGGEST 2018 MARKETING ADJUSTED EBIT IN UPPER HALF OF LONG-TERM GUIDANCE RANGE"‍​

* "ANTICIPATED STRONG PRODUCTION GROWTH IN COPPER (25%) NICKEL (30%) AND COBALT (133%) OVER THE NEXT THREE YEARS"

* GOING FORWARD COMMODITIES SUCH AS ZINC, COPPER, NICKEL, THERMAL COAL SHOULD SEE POSITIVE PRICE DIVERGENCE VERSUS POTENTIALLY OVERSUPPLIED MARKETS - CEO Source text ID: (bit.ly/2Cb0pLy) Eikon ID: Further company coverage:

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