Edition:
United Kingdom

Glencore Sees 2017 Marketing EBIT Guidance Of About $2.8 Bln


Tuesday, 12 Dec 2017 

Dec 12 (Reuters) - Glencore Plc ::2017 MARKETING EBIT GUIDANCE OF C.$2.8BLN.‍2018 ILLUSTRATIVE EBITDA OF C.$16.2BN AT SPOT/FORWARD PRICES​.‍OPTIMAL NET DEBT RANGE OF $10-16BN, NET DEBT /EBITDA < 2.0X THROUGH CYCLE​.2018 DISTRIBUTION POLICY, IN RESPECT OF 2017 CASH FLOWS, COMPRISES FIXED $1BN BASE DISTRIBUTION FROM MARKETING PLUS A MINIMUM PAYOUT OF 25% OF INDUSTRIAL FCF.‍"TIER 1" COMMODITIES, COPPER, COBALT, NICKEL, ZINC & THERMAL COAL, OUTLOOKS "UNDERPINNED BY PERSISTENT SUPPLY CHALLENGES, ROBUST DEMAND​".