- Golden Agri-Resources (SGX:E5H)’s revenue rose 18.2% y-o-y to US$5.8b in 2H24, driven by CPO prices. The average international CPO price (FOB Belawan) rose to US$1,086 per tonne in 2H24, contributing to an overall annual average of US$1,005 per tonne in FY24, up from US$901 per tonne in FY23.
A good ending to FY24.
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- Golden Agri-Resources achieved a record sales volume of 11.9m tonnes in FY24. Higher sales volume and CPO prices helped to offset the impact of lower plantation output.
- Revenue for plantations and palm oil mills rose 8% y-o-y to US$2.2b while EBITDA grew 19% y-o-y to US$567m in FY24, supported by higher CPO prices (+12% y-o-y). Fruit yield in the second half of the year grew by 29% compared to 2H23, reaching 10.4 tonnes per hectare. However, Golden Agri-Resources’s full year yield of 18.7 tonnes per hectare remained below 2023 levels due to land preparation for replanting and the lingering impact of El Niño weather conditions.
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Final dividend up 31.2% y-o-y
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