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“We’ve been budgeting for higher interest costs & optimising cost structures overall. Some of the higher interest costs will be recovered through increased selling prices as we reprice contracts, putting us in a better position for the second half.” Olam Group CFO, N Muthukumar

“We’re pleased with our underlying H1 performance demonstrating accelerated recovery in our Ingredients & Solutions segment. We continue to execute on our strategic priorities & ongoing investments to deliver exciting & value-added opportunities for customers.” ofi CEO A. Shekhar

Olam Group reports PATMI of S$278.7 million for FY2023; Aims to explore other strategic options in its Re-organisation journey to unlock value for shareholders.

ofi reports 11.1% YoY growth in EBIT performance, led by strong growth in Ingredients & Solutions, an endorsement of its value-added growth strategy.

“The double-digit EBIT growth at ofi & Olam Agri in H2 2023 reflects their differentiated, unique business propositions and solid execution post Re-organisation.” Olam Group CEO, Sunny Verghese

Olam Agri delivered a 12.8% YoY growth in EBIT performance, reflecting the robust contribution from the Food & Feed – Processing & Value-added segment.

Olam Agri’s resilient performance was led by exceptional performance and growth in the Food & Feed – Processing & Value-added segment.

“We are confident of our growth prospects and are taking steps to ensure we continue to drive returns for investors amid a challenging macroeconomic backdrop and uncertain geopolitical conditions.” Olam Group CEO, Sunny Verghese

“We have maintained discipline in our use of capital and focused our investments that are earnings and returns accretive while enhancing our sustainability impact.” Olam Group CFO, N Muthukumar

“We delivered solid earnings growth alongside continued execution of our strategy. We took a deliberate call to focus only on selective volume growth opportunities that maximise earnings and returns. This was reflected in the strong earnings growth in 2023.” ofi CEO, A. Shekhar

We are pleased to share our 2023 Annual Report “Strengthening Connections for a Sustainable Future” highlighting our financial and non-financial disclosures. Key updates include growth plans, sustainability focus and plans to nurture our other businesses. tinyurl.com/OlamAR

President of the Republic of Singapore Tharman Shanmugaratnam recognised Olam for its commitment to integrating natural capital assessments throughout our operations. At the Lee Kuan Yew Water Prize 2024 he cited Olam as a company that takes sustainability seriously. t.ly/8DCo7

Olam Group reports growth of 8.3% in operating profit (EBIT) with a steady PATMI at S$48.1 million.

ofi's EBIT grows 71.5% year-on-year to S$475.5 million, driven by 112.9% growth in ingredients and solutions.

Olam Agri’s EBIT declined 8.4% against a strong prior half year; Food & Feed – Processing & Value-Added segments delivers continued growth even against its exceptional H1 2023 results.

Olam Board declares interim dividend of 3.0 cents per share for H1 2024, unchanged from H1 2023.

“We delivered EBIT growth and steady PATMI in H1 2024 despite high interest rates and challenging market conditions. This reflects the collective resilience of the Group, including ofi and Olam Agri,” Olam Group Co-founder & CEO, Sunny Verghese

“We remain committed to executing our Re-organisation Plan to unlock value. We continue to evaluate all factors that would underpin the success of the proposed IPOs of ofi and Olam Agri, while exploring all other strategic options,” Olam Group Co-founder & CEO, Sunny Verghese

“Our net finance costs grew sharply mainly due to higher working capital needs and increased benchmark interest rates. We expect to see a softening of inflationary pressures and potential easing of interest rates going forward,” Olam Group CFO, N Muthukumar

“We are very pleased with our EBIT performance in H1 2024. It is testament to the huge strengths of our integrated supply chains and reflective of the ability to optimise our margins and returns across many of our markets this year,” ofi CEO, A. Shekhar