Golden Agri-Resources net profit jumps 56% in H1

The group’s revenue for the period hit $7.96b.

Golden Agri-Resources Ltd (GAR) reported a 56% surge in first-half net profit to $205m (US$160m), driven by higher crude palm oil (CPO) prices and improved plantation output.

The company’s revenue reached a record $7.96b (US$6.2b), supported by a 19% increase in CPO market prices (FOB Belawan).

EBITDA rose 14% year-on-year to $726m (US$566m), whilst underlying profit grew 23% to $298m (US$232m). Lower interest expenses and reduced foreign exchange losses further boosted net earnings.

GAR’s balance sheet remains strong, with gearing ratio and net debt to EBITDA falling to 0.61 times and 0.22 times, respectively.

Looking ahead, GAR expects favourable weather conditions to continue supporting the recovery of Indonesian palm oil in 2025, consistent with global vegetable oil supply trends.

“Although global economic growth is slowing down, we see gradual improvement in palm oil demand, driven by staple food consumption and smooth implementation of the B40 biodiesel policy,” said Franky Widjaja, GAR chairman and chief executive officer.

“Nonetheless, we continue to anticipate factors that may influence price trends and trade flows, including global geopolitical tensions and changing trade tariffs.”