Annual profits

Trafigura Group Pte Ltd Reports Record Yearly Profits on Rising Raw Material Prices and Trading Volumes

Trafigura Group Pte Ltd, one of the largest commodity traders in the world, achieved record annual profits thanks to rising commodity prices and increasing transaction volumes.

Underlying EBITDA increased 13% to $ 6.9 billion (£ 5.2 billion) for the year ending September as revenue jumped 57% to a record high of $ 231.3 billion. Trading volumes were also the highest in the group’s 28-year history.

“Trafigura’s performance in 2021 again set new records in terms of volumes processed and overall profitability,” said Jeremy Weir, Executive Chairman and CEO. “We also made excellent progress during the year in continuing to diversify our activities in order to play a significant role in the energy transition underway. “

“It was a year that saw the global economy recover from the shock of COVID-19, albeit unevenly across different regions, and a year in which the underlying weaknesses in global supply chains were laid bare, as demand rebounded as logistics and supply struggled to keep pace. . “

The group said it expects 2022 to be “at least as difficult” as 2021.

Trafigura traded an average of 7 million barrels of oil and petroleum products per day during the year, up 25% from the previous year. The energy division was responsible for almost two-thirds of the company’s underlying EBITDA.

Non-ferrous metal trading volumes increased 9% from the previous year and 8% for bulk minerals.


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