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Yahoo
15 hours ago
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Siili Solutions Plc, Half-year report, 1 January–30 June 2025 (unaudited)
Siili Solutions Plc, Half-year report, 1 January–30 June 2025 (unaudited) Siili Solutions Plc, Half-year report, 1 January–30 June 2025 (unaudited) Measures to improve profitability continue, strategy implementation proceeds Siili Solutions Plc Half-year report 12 August 2025 at 9:00 am (EET) JANUARY-JUNE 2025 We enhanced our overall offering to be in line with the market demand, and launched a new Advisory business area We updated our competence profile to better support our AI-driven strategy and market demand Revenue for the first half of the year was EUR 57,543 (59,186) thousand, representing decline of 2.8% year on year Adjusted EBITA for the first half of the year was EUR 2,562 (3,309) thousand, which corresponds to 4.5% (5.6%) of revenueAPRIL-JUNE 2025 We continued to strengthen our overall offering by reforming the operating model of Siili One and clarifying our continuous services concept We strenghtened our data and AI expertise and continued the systematic development of our culture Revenue for the second quarter amounted EUR 27,627 (29,362) thousand, representing decline of 5.9% year on year Adjusted EBITA was EUR 1,294 (1,719) thousand, which corresponds to 4.7% (5.9%) of revenue 1-6/2025 1-6/2024 1-12/2024 4-6/2025 4-6/2024 Revenue, EUR 1,000 57,543 59,186 111,899 27,627 29,362 Revenue growth, % -2.8% -9.3% -8.8% -5.9 % -7.3 % Organic revenue growth, % -4.8% 9.3% -8.8% -8.0% -7.3% Share of international revenue, % 26.1% 28.0% 29.0% 25.1 % 28.4% Adjusted EBITA, EUR 1,000 2,562 3,309 5,409 1,294 1,719 Adjusted EBITA, % of revenue 4.5% 5.6 % 4.8% 4.7 % 5.9 % EBITA, EUR 1,000 1,636 2,694 4,752 428 1,319 EBIT, EUR 1,000 971 2,110 3,592 50 1,028 Earnings per share, EUR 0.09 0.22 0.43 0.05 0.15 Number of employees at the end of the period 900 966 942 900 966 Average number of employees during the period 921 987 975 929 970 Number of full-time employees (FTE) at the end of the period 882 934 900 882 934 Number of full-time subcontractors (FTE) at the end of the period 132 138 133 132 138Outlook for 2025 and financial goals for 2025‑2028 Revenue for 2025 is expected to be EUR 108‑130 million and adjusted EBITA EUR 4.7‑7.7 million. On 26 November 2024, the company announced the financial goals for the years 2025–2028 as follows: Annual revenue growth of 20 percent, of which organic growth accounts for about half. Adjusted EBITA 12 percent of revenue. The aim is to keep the ratio of net debt-to-EBITDA below two. The aim is to pay a dividend corresponding to 30–70 percent of net profit TOMI PIENIMÄKI: In the first half of 2025, we continued to support our clients in their AI transformation and adjusted our competence profile to better align with our strategy and current market demand. Revenue for the first year-half was EUR 57.5 million, representing a decline of 2.8% year-on-year. Revenue declined across the Group's operations year-on-year as a result of protracted challenging market conditions. The decline in revenue also partly reflected a lower number of working days than last year. Adjusted EBITA for January–June was EUR 2.6 million, or 4.5% of revenue. Strategy implementation proceeds as planned In the first half of the year, we took several important steps in the implementation of our data and AI driven strategy published a year ago, and we have helped our clients on their AI journey in many interesting projects. As an example, during the first half of the year, we spearheaded the reform of a client's billing process, which will have a significant impact on improving the quality and efficiency of the process. We have also participated in the modernisation of a key system for Varma. The objective of the modernisation was to simplify the maintenance of the system and improve its scalability and development potential, ensuring it continues to meet business needs reliably into the future. In the first half or the year, we enhanced our overall offering, and the Advisory business area, launched in March, has started strongly. In the spring, we reformed the operating model of Siili One and raised our ownership in the Hungarian subsidiary Supercharge Kft to 85% in May. We have also strengthened our position in the security-critical sector by entering into strategic partnerships with the NATO Communications and Information Agency (NCIA), the Digital Defence Ecosystem and the Finnish Defence and Aerospace Industries (PIA). We continue to develop our expertise base and culture We continue to focus on AI-powered software development and on strengthening the expertise of our personnel. We continued to enhance skills related to AI, and in the first year-half, over 400 Siili employees completed our AI course, marking ongoing progress in the systematic training of our staff into leading AI experts. Additionally, we provided advanced training to Siili employees on the use of large language models and RAG models. This foundation of competencies provides us a forerunner's position on the cutting edge of artificial intelligence. We strengthened our competence profile also by concluding the acquisition of a majority stake in Integrations Group Oy at the beginning of the year. We also continued the systematic enhancement of our culture. In May–June, we conducted a preliminary survey across all our Finnish offices to involve personnel in the development process, alongside workshops where Siili employees could express their views about how the strategy, brand and culture are evident on a daily basis and how they guide work with clients. We renew our organization and operational model We announced today that we will renew our operational model and organization to be more in line with Siili Group's strategy and customer needs created by the AI transformation. We have strong experience and expertise in being the AI transformation forerunner and supporting our clients in their transformation journeys. With the planned new operational model and supporting organization, we are able to meet different customer needs even better. I want to thank all our clients and cooperation partners for the past months. My particular gratitude goes to all Siili employees who have provided their valuable expertise and commitment to creating value for clients and implementing Siili's strategy. We are now well-placed to continue our journey as a forerunner in the AI transformation. REVENUERevenue for the first half-yearly period decreased by 2.8% year-on-year (-9.3%) to EUR 57,543 (59,186) thousand. Organic revenue change was -4.8% (-9.3%). The share of international operations of the revenue for the reporting period was 26.1%(28.0%). Revenue declined across the Group's operations year-on-year as a result of protracted challenging market conditions and the reduction in overall capacity due to efficiency-improvement measures. PROFITABILITYEBITA for the reporting period totalled EUR 1,636 (2,694) thousand, representing a decline of EUR 1,058 year-on-year. The Group's profitability weakened during the first year-half, and EBITA amounted to 2.8% (4.6%) of revenue. The year-on-year deterioration in profitability was affected, besides the decline in revenue, by non-recurring employee benefit expenses due to the termination of employment relationships recognised in the reporting period. Subcontracting costs arising from the use of external services in the review period totalled EUR 12,063 (12,131) thousand, or 21.0% (20.5%) of revenue. Employee benefit expenses for the financial year decreased to EUR 35,995 (36,588) thousand, amounting to 62.6% (61.8%) of revenue. The decrease in employee benefit expenses was due to a reduction in the number of personnel. At the same time, employee benefit expenses were increased by non-recurring expenses due to redundancies. During the reporting period, the Group's number of employees was 921 (987) on average and 900 (966) at the end of the period. Other operating expenses increased from the previous year to EUR 6,353 (6,100) thousand, or 11.0% (10.3%) of revenue. Adjusted EBITA for the first year-half was EUR 2,562 (3,309) thousand, or 4.5% (5.6%) of revenue. The adjustment items amounted to EUR 926 (615) thousand, consisting of non-recurring employee benefit expenses related to redundancies as well as business acquisition expenses. The calculation of adjusted EBITA is shown under Calculation formulas for the key figures. The Group's operating profit (EBIT) for the reporting period was EUR 971 (2,110) thousand, or 1.7% (3.6%) of revenue. Net financial expenses for the year-half totalled EUR 400 (+343) thousand. The profit for the period before taxes was EUR 571 (2,453) thousand, and earnings per share were EUR 0.09 (0.22). FINANCING AND CAPITAL EXPENDITUREThe Group's statement of financial position totalled EUR 81,525 (86,524) thousand at the end of the first year-half. The Group's equity ratio was 49.9% (46.6%), return on investment (ROI) was 5.1% (9.3%), and the ratio of net debt to EBITDA was 0.45 (0.44). The cash flow from operations was EUR 1,477 (4,851) thousand, representing a decrease of 69.6% year on year. The decline in the cash flow from operating activities was driven by decrease in net profit and trade payables, which had a negative impact on net working capital. Cash flow from investing activities for the reporting period was EUR -5,321 (-10,127) thousand, including the considerations totalling EUR 5,246 thousand paid to the minority interest for the acquisition of additional stakes in Supercharge Kft and Integrations Group Oy. Cash flow from financing activities in the review period amounted to EUR -608 (-6,240) thousand, including a dividend of EUR 1,460 thousand paid to the shareholders of Siili Solutions Plc, a dividend of 670 thousand paid to non-controlling shareholders of Supercharge Kft., Integrations Group Oy and Vala Group Oy, loan withdrawals for Supercharge Kft minority acquisition amounting to EUR 4,237 thousand and repayments of bank loans amounting to EUR 1,258 thousand. At the end of the review period, the Group's cash and cash equivalents totalled EUR 15,884 (17,497) thousand, and the Group had EUR 2,500 thousand in unused credit facilities. At the end of the review period, the Group's interest-bearing bank loans stood at EUR 9,268 (7,487) thousand, of which EUR 2,664 thousand consisted of short-term loans. RISKS AND UNCERTAINTY FACTORS Siili is exposed to various risk factors related to its operational activities and business environment. The realisation of risks may have an unfavourable effect on Siili's business, financial position or company value. The most significant risks related to Siili's operations are described below, along with other known risks that may become significant in the future. In addition, there are risks that Siili is not necessarily aware of and which may become significant. The loss of one or more key clients, a considerable decrease in purchases, financial difficulties experienced by clients or a change in a client's strategy with regard to the procurement of IT services could have a negative effect on the company. Failure to achieve recruitment goals in terms of both quality and quantity, and failure to match supply to customer demand in a timely manner. Probability and adverse effects of the realisation of the aforementioned risks are more likely in an uncertain economic environment. Failure in pricing, planning, implementation and improving cost efficiency of customer projects. Loss of the contribution of key personnel or deterioration of the employer's reputation. Realisation of cyber or information security risks, for example, as a result of data breach and/or human error by an employee. In addition, heightened geopolitical uncertainty and increased activity by state actors have contributed to an elevated cyber threat landscape. General negative or weakened economic development and the resulting uncertainty in the clients' operating environment. The general economic cycle and changes in the clients' operating environment can have negative effects through slowing down, postponing or cancelling decision-making on IT investments. The general uncertainty and inflation in continue to affect in particular our clients' investment decisions, thereby also weighing on Siili's business also in the current financial year. We continue to prepare for these effects by taking care of customer satisfaction and cost efficiency. EVENTS AFTER THE END OF THE REPORTING YEAR The company's share buy-back programme completed On 17 July 2025 the company announced that it has completed the share buy-back programme that commended in June. During the programme, a total of 31,000 shares were acquired, corresponding to approximately 0.38% of the total number of shares in the company. The average price per share was EUR 6.38 and the total purchase price amounted to approximately EUR 197 809. Following the repurchases, Siili holds a total of 31,698 own shares. Siili renews its organization and operational model On 12 August 2025 the company announced that it will renew its operational model and organization to better support Siili Group's strategy and changes brought by the AI transformation. More information is available in the press release publised on 12 August 2025, available on company's website / The company's management is not aware of any other events of material importance after the review period that might have affected the preparation of thr half-year report. FINANCIAL CALENDAR FOR 2025 Siili will hold a results announcement event for analysts, portfolio managers and the media on 12 August 2025 at 1:00 p.m. The presentation materials will be published on the company website after the event. The business review for 1 January–30 September 2025 will be published on 21 October 12 August 2025 Board of Directors, Siili Solutions Plc FURTHER INFORMATION: CEO Tomi Pienimäki tel. +358 40 834 1399 CFO Aleksi Kankainen tel. +358 40 534 2709 SIILI SOLUTIONS IN BRIEF: Siili Solutions Plc is a forerunner in AI-powered digital development. Siili is the go-to partner for clients seeking growth, efficiency and competitive advantage through digital transformation. Our main markets are Finland, the Netherlands, the United Kingdom, and Germany. Siili Solutions Plc's shares are listed on the Nasdaq Helsinki Stock Exchange. Siili has grown profitably since its founding in 2005. / Attachment siili_H1_2025_120825_EN
Yahoo
15 hours ago
- Business
- Yahoo
Siili Solutions Plc, Half-year report, 1 January–30 June 2025 (unaudited)
Siili Solutions Plc, Half-year report, 1 January–30 June 2025 (unaudited) Siili Solutions Plc, Half-year report, 1 January–30 June 2025 (unaudited) Measures to improve profitability continue, strategy implementation proceeds Siili Solutions Plc Half-year report 12 August 2025 at 9:00 am (EET) JANUARY-JUNE 2025 We enhanced our overall offering to be in line with the market demand, and launched a new Advisory business area We updated our competence profile to better support our AI-driven strategy and market demand Revenue for the first half of the year was EUR 57,543 (59,186) thousand, representing decline of 2.8% year on year Adjusted EBITA for the first half of the year was EUR 2,562 (3,309) thousand, which corresponds to 4.5% (5.6%) of revenueAPRIL-JUNE 2025 We continued to strengthen our overall offering by reforming the operating model of Siili One and clarifying our continuous services concept We strenghtened our data and AI expertise and continued the systematic development of our culture Revenue for the second quarter amounted EUR 27,627 (29,362) thousand, representing decline of 5.9% year on year Adjusted EBITA was EUR 1,294 (1,719) thousand, which corresponds to 4.7% (5.9%) of revenue 1-6/2025 1-6/2024 1-12/2024 4-6/2025 4-6/2024 Revenue, EUR 1,000 57,543 59,186 111,899 27,627 29,362 Revenue growth, % -2.8% -9.3% -8.8% -5.9 % -7.3 % Organic revenue growth, % -4.8% 9.3% -8.8% -8.0% -7.3% Share of international revenue, % 26.1% 28.0% 29.0% 25.1 % 28.4% Adjusted EBITA, EUR 1,000 2,562 3,309 5,409 1,294 1,719 Adjusted EBITA, % of revenue 4.5% 5.6 % 4.8% 4.7 % 5.9 % EBITA, EUR 1,000 1,636 2,694 4,752 428 1,319 EBIT, EUR 1,000 971 2,110 3,592 50 1,028 Earnings per share, EUR 0.09 0.22 0.43 0.05 0.15 Number of employees at the end of the period 900 966 942 900 966 Average number of employees during the period 921 987 975 929 970 Number of full-time employees (FTE) at the end of the period 882 934 900 882 934 Number of full-time subcontractors (FTE) at the end of the period 132 138 133 132 138Outlook for 2025 and financial goals for 2025‑2028 Revenue for 2025 is expected to be EUR 108‑130 million and adjusted EBITA EUR 4.7‑7.7 million. On 26 November 2024, the company announced the financial goals for the years 2025–2028 as follows: Annual revenue growth of 20 percent, of which organic growth accounts for about half. Adjusted EBITA 12 percent of revenue. The aim is to keep the ratio of net debt-to-EBITDA below two. The aim is to pay a dividend corresponding to 30–70 percent of net profit TOMI PIENIMÄKI: In the first half of 2025, we continued to support our clients in their AI transformation and adjusted our competence profile to better align with our strategy and current market demand. Revenue for the first year-half was EUR 57.5 million, representing a decline of 2.8% year-on-year. Revenue declined across the Group's operations year-on-year as a result of protracted challenging market conditions. The decline in revenue also partly reflected a lower number of working days than last year. Adjusted EBITA for January–June was EUR 2.6 million, or 4.5% of revenue. Strategy implementation proceeds as planned In the first half of the year, we took several important steps in the implementation of our data and AI driven strategy published a year ago, and we have helped our clients on their AI journey in many interesting projects. As an example, during the first half of the year, we spearheaded the reform of a client's billing process, which will have a significant impact on improving the quality and efficiency of the process. We have also participated in the modernisation of a key system for Varma. The objective of the modernisation was to simplify the maintenance of the system and improve its scalability and development potential, ensuring it continues to meet business needs reliably into the future. In the first half or the year, we enhanced our overall offering, and the Advisory business area, launched in March, has started strongly. In the spring, we reformed the operating model of Siili One and raised our ownership in the Hungarian subsidiary Supercharge Kft to 85% in May. We have also strengthened our position in the security-critical sector by entering into strategic partnerships with the NATO Communications and Information Agency (NCIA), the Digital Defence Ecosystem and the Finnish Defence and Aerospace Industries (PIA). We continue to develop our expertise base and culture We continue to focus on AI-powered software development and on strengthening the expertise of our personnel. We continued to enhance skills related to AI, and in the first year-half, over 400 Siili employees completed our AI course, marking ongoing progress in the systematic training of our staff into leading AI experts. Additionally, we provided advanced training to Siili employees on the use of large language models and RAG models. This foundation of competencies provides us a forerunner's position on the cutting edge of artificial intelligence. We strengthened our competence profile also by concluding the acquisition of a majority stake in Integrations Group Oy at the beginning of the year. We also continued the systematic enhancement of our culture. In May–June, we conducted a preliminary survey across all our Finnish offices to involve personnel in the development process, alongside workshops where Siili employees could express their views about how the strategy, brand and culture are evident on a daily basis and how they guide work with clients. We renew our organization and operational model We announced today that we will renew our operational model and organization to be more in line with Siili Group's strategy and customer needs created by the AI transformation. We have strong experience and expertise in being the AI transformation forerunner and supporting our clients in their transformation journeys. With the planned new operational model and supporting organization, we are able to meet different customer needs even better. I want to thank all our clients and cooperation partners for the past months. My particular gratitude goes to all Siili employees who have provided their valuable expertise and commitment to creating value for clients and implementing Siili's strategy. We are now well-placed to continue our journey as a forerunner in the AI transformation. REVENUERevenue for the first half-yearly period decreased by 2.8% year-on-year (-9.3%) to EUR 57,543 (59,186) thousand. Organic revenue change was -4.8% (-9.3%). The share of international operations of the revenue for the reporting period was 26.1%(28.0%). Revenue declined across the Group's operations year-on-year as a result of protracted challenging market conditions and the reduction in overall capacity due to efficiency-improvement measures. PROFITABILITYEBITA for the reporting period totalled EUR 1,636 (2,694) thousand, representing a decline of EUR 1,058 year-on-year. The Group's profitability weakened during the first year-half, and EBITA amounted to 2.8% (4.6%) of revenue. The year-on-year deterioration in profitability was affected, besides the decline in revenue, by non-recurring employee benefit expenses due to the termination of employment relationships recognised in the reporting period. Subcontracting costs arising from the use of external services in the review period totalled EUR 12,063 (12,131) thousand, or 21.0% (20.5%) of revenue. Employee benefit expenses for the financial year decreased to EUR 35,995 (36,588) thousand, amounting to 62.6% (61.8%) of revenue. The decrease in employee benefit expenses was due to a reduction in the number of personnel. At the same time, employee benefit expenses were increased by non-recurring expenses due to redundancies. During the reporting period, the Group's number of employees was 921 (987) on average and 900 (966) at the end of the period. Other operating expenses increased from the previous year to EUR 6,353 (6,100) thousand, or 11.0% (10.3%) of revenue. Adjusted EBITA for the first year-half was EUR 2,562 (3,309) thousand, or 4.5% (5.6%) of revenue. The adjustment items amounted to EUR 926 (615) thousand, consisting of non-recurring employee benefit expenses related to redundancies as well as business acquisition expenses. The calculation of adjusted EBITA is shown under Calculation formulas for the key figures. The Group's operating profit (EBIT) for the reporting period was EUR 971 (2,110) thousand, or 1.7% (3.6%) of revenue. Net financial expenses for the year-half totalled EUR 400 (+343) thousand. The profit for the period before taxes was EUR 571 (2,453) thousand, and earnings per share were EUR 0.09 (0.22). FINANCING AND CAPITAL EXPENDITUREThe Group's statement of financial position totalled EUR 81,525 (86,524) thousand at the end of the first year-half. The Group's equity ratio was 49.9% (46.6%), return on investment (ROI) was 5.1% (9.3%), and the ratio of net debt to EBITDA was 0.45 (0.44). The cash flow from operations was EUR 1,477 (4,851) thousand, representing a decrease of 69.6% year on year. The decline in the cash flow from operating activities was driven by decrease in net profit and trade payables, which had a negative impact on net working capital. Cash flow from investing activities for the reporting period was EUR -5,321 (-10,127) thousand, including the considerations totalling EUR 5,246 thousand paid to the minority interest for the acquisition of additional stakes in Supercharge Kft and Integrations Group Oy. Cash flow from financing activities in the review period amounted to EUR -608 (-6,240) thousand, including a dividend of EUR 1,460 thousand paid to the shareholders of Siili Solutions Plc, a dividend of 670 thousand paid to non-controlling shareholders of Supercharge Kft., Integrations Group Oy and Vala Group Oy, loan withdrawals for Supercharge Kft minority acquisition amounting to EUR 4,237 thousand and repayments of bank loans amounting to EUR 1,258 thousand. At the end of the review period, the Group's cash and cash equivalents totalled EUR 15,884 (17,497) thousand, and the Group had EUR 2,500 thousand in unused credit facilities. At the end of the review period, the Group's interest-bearing bank loans stood at EUR 9,268 (7,487) thousand, of which EUR 2,664 thousand consisted of short-term loans. RISKS AND UNCERTAINTY FACTORS Siili is exposed to various risk factors related to its operational activities and business environment. The realisation of risks may have an unfavourable effect on Siili's business, financial position or company value. The most significant risks related to Siili's operations are described below, along with other known risks that may become significant in the future. In addition, there are risks that Siili is not necessarily aware of and which may become significant. The loss of one or more key clients, a considerable decrease in purchases, financial difficulties experienced by clients or a change in a client's strategy with regard to the procurement of IT services could have a negative effect on the company. Failure to achieve recruitment goals in terms of both quality and quantity, and failure to match supply to customer demand in a timely manner. Probability and adverse effects of the realisation of the aforementioned risks are more likely in an uncertain economic environment. Failure in pricing, planning, implementation and improving cost efficiency of customer projects. Loss of the contribution of key personnel or deterioration of the employer's reputation. Realisation of cyber or information security risks, for example, as a result of data breach and/or human error by an employee. In addition, heightened geopolitical uncertainty and increased activity by state actors have contributed to an elevated cyber threat landscape. General negative or weakened economic development and the resulting uncertainty in the clients' operating environment. The general economic cycle and changes in the clients' operating environment can have negative effects through slowing down, postponing or cancelling decision-making on IT investments. The general uncertainty and inflation in continue to affect in particular our clients' investment decisions, thereby also weighing on Siili's business also in the current financial year. We continue to prepare for these effects by taking care of customer satisfaction and cost efficiency. EVENTS AFTER THE END OF THE REPORTING YEAR The company's share buy-back programme completed On 17 July 2025 the company announced that it has completed the share buy-back programme that commended in June. During the programme, a total of 31,000 shares were acquired, corresponding to approximately 0.38% of the total number of shares in the company. The average price per share was EUR 6.38 and the total purchase price amounted to approximately EUR 197 809. Following the repurchases, Siili holds a total of 31,698 own shares. Siili renews its organization and operational model On 12 August 2025 the company announced that it will renew its operational model and organization to better support Siili Group's strategy and changes brought by the AI transformation. More information is available in the press release publised on 12 August 2025, available on company's website / The company's management is not aware of any other events of material importance after the review period that might have affected the preparation of thr half-year report. FINANCIAL CALENDAR FOR 2025 Siili will hold a results announcement event for analysts, portfolio managers and the media on 12 August 2025 at 1:00 p.m. The presentation materials will be published on the company website after the event. The business review for 1 January–30 September 2025 will be published on 21 October 12 August 2025 Board of Directors, Siili Solutions Plc FURTHER INFORMATION: CEO Tomi Pienimäki tel. +358 40 834 1399 CFO Aleksi Kankainen tel. +358 40 534 2709 SIILI SOLUTIONS IN BRIEF: Siili Solutions Plc is a forerunner in AI-powered digital development. Siili is the go-to partner for clients seeking growth, efficiency and competitive advantage through digital transformation. Our main markets are Finland, the Netherlands, the United Kingdom, and Germany. Siili Solutions Plc's shares are listed on the Nasdaq Helsinki Stock Exchange. Siili has grown profitably since its founding in 2005. / Attachment siili_H1_2025_120825_ENError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
5 days ago
- Business
- Bloomberg
Glencore Needs to Dig Deep to Stop Disappointing Investors
Welcome to our guide to the commodities markets powering the global economy. Today, reporter Thomas Biesheuvel examines Glencore's poor performance in recent years and what that means for its future. Glencore Plc might be known as a commodities trader, but the company makes its real money as a miner. Right now, that bit isn't going too well.
Bloomberg
7 days ago
- Business
- Bloomberg
Glencore Scraps Plans for New York Move in Boost to London
Glencore Plc scrapped plans to move its primary listing away from London after reviewing a potential move to New York. The company also reported a fall in its first-half profits as the commodity giant continues to be weighed down by weak prices for some of its most important products.
Bloomberg
04-08-2025
- Business
- Bloomberg
Metlen's Shares Gain in London Debut After Shift From Athens
Metlen Energy and Metals Plc 's shares rose in its debut on the London Stock Exchange on Monday after moving its primary listing from Athens, although trading in the stock was relatively thin. The firm's shares closed at €48.68 ($56.269) in London on Monday, 3.2% higher than the Athens-listed stock's closing price of €47.16 on Friday. Metlen, with a market capitalization of more than €6 billion, did not raise any new funds with the listing.
