Record Revenue and Volume Achievements
Olam Group achieved nearly 50 million tons in volumes and crossed SGD50 billion in revenues for the first time. EBIT increased by 9% to SGD1.9 billion, with Olam ofi and Olam Agri each contributing over SGD1 billion in EBIT.
Strong Performance of ofi
ofi delivered a 29.1% increase in EBIT to SGD1.07 billion, driven by strong growth in Ingredients & Solutions. Invested capital grew by 47% to SGD26 billion, primarily due to elevated commodity prices.
Olam Agri's Resilience in a Downturn
Olam Agri's EBIT grew by 5.8% to SGD1.024 billion, with a 14% increase in volumes. The segment remained relatively stable despite a cyclical downturn in the industry.
Significant Growth in Ingredients & Solutions
ofi's Ingredients & Solutions segment now accounts for 70% of its EBIT, reflecting a strategic focus on value-added products.
Successful Portfolio Management
Despite market volatility, Olam managed its capital effectively, with some inventories being self-liquidating and a robust liquidity buffer of SGD25 billion.