glencore plc reported results for the first half of the year on thursday heres what you need to know ebitda glencores adjusted ebitda more than doubled in januaryjune to 1892 billion from 865 billion a year earlier this was above the market consensus of 1876 billion provided by visible alpha and averaged from eight brokers net income the commodity mining and trading giant reported net income of 1209 billion up from 128 billion a year earlier and also above the 1053 billion market consensus cash flow glencore generated net cash from operations of 574 billion in the first halfcompared with 550 billion a year earlier this flattish performance was driven by working capital outflows of 904 billion which had been prewarned by the company last week our net working capital significantly increased during the period in line with the materially higher oil gas and coal prices and their elevated market volatilities glencore said dividend despite the working capital buildup glencores cash generation in the period was enough to declare topup distributions comprising a 145 billion special dividend and a 3 billion buyback this time last year when debt was higher the company unveiled a 530 million special dividend and a 650 million buyback the dividend and capital return was within range of consensus and will be taken with a sigh of relief from the market rbc capital markets tyler broda said in a note marketing adjusted ebit from marketingglencores trading divisionmore than doubled to 37 billion an extraordinary performance which exceeded the longterm annual target of 22 billion32 billion in just six months the companys commodity traders thrived in an environment of extreme market dislocations and price movements glencore cautioned that conditions will normalize in the second half