Gunvor Net Profit Falls 85 Percent During Buyout Year
Gunvor reported a net profit of 104 million dollars for 2025 after its management buyout. The firm matched its 2025 gross profit in the first quarter of 2026.
Gunvor, the global commodity trading house, reported an 85% decline in net profits for 2025, with earnings falling to $104 million. This sharp decrease occurred during a pivotal year for the firm, which saw a management buyout as employees replaced co-founder and former CEO Torbjorn Tornqvist. The final profit figure includes $462 million in writedowns and other impairments recorded by the new management team.
The buyout valued Gunvor at approximately $5 billion, with Torbjorn Tornqvist providing a loan of more than $4 billion to employees to facilitate the transaction. This restructuring took place as commodity trading houses adjusted to lower profit margins following the record earnings of 2022 and 2023, which were driven by the post-pandemic recovery and market dislocations associated with the conflict between Russia and Ukraine.
