Glencore makes $ 400 million loss

The business figures of the raw materials group based in Baar slid into the red in 2019. The company's debt is also growing.

Glencore posted a profit of $ 3.41 billion last year. But there’s not much left of it in 2019: the company posted a loss of $ 404 million in 2019. Glencore announced its business figures on Tuesday morning.

According to the announcement by the company, Ivan Glasenberg, the CEO of Glencore, attributes the group's poor performance to the continuing uncertainties in trade relations. The group has also had to cope with lower prices for its most important products.

The global corporation Glencore has its headquarters in Baar, Zug.

The company's mountain of debt increased again in 2019. Liabilities at the end of the year were $ 17.6 billion, an increase of 19 percent over the previous year.

Glencore intends to keep the dividend for shareholders at the previous year's level, however, with $ 0.20 per share being paid out.