Annual Report 2021

Transforming to serve a changing world.

Chairman’s Letter

The year was ground-breaking as we posted our highest-ever revenues, as well as the reported and operational PATMI. The Group became a Fortune 500 company and laid down a clear marker for our future growth. We continued to progress on our transformation journey, resulting in the creation of three new business groups under our Re-organisation Plan to drive growth and unlock value for our existing shareholders, and attract new investors to provide new capital for growth.

Lim Ah Doo Chairman, Non-Executive and Independent Director

Group CEO's Review

We had a banner year despite the continued impacts from COVID-19 and the adverse macro-economic and geopolitical environment, announcing our strongest reported and operational PATMI since Olam was founded. This reflects the resilience, continued strength and differentiation of our business model. The benefits of focus through the Re-organisation exercise have yielded strong growth for ofi and Olam Agri, and they are now well poised to succeed and flourish as independent new entities.

Sunny Verghese Executive Director, Co-Founder and Group CEO

CFO’s review

N Muthukumar discusses Olam’s strongest financial performance since inception.

Financial Highlights

Read Olam Group Limited's financial highlights.

Financial Report

Read Olam Group's financial report and accounts 2021.

Offering sustainable, natural, value-added food products and ingredients so that consumers can enjoy the healthy and indulgent products they love.

Transforming food, feed and fibre to create value for customers, enabling farming communities to prosper and strive for a more food secure future.

The remaining businesses of Olam Group monetise and divest gestating and de-prioritised assets, and incubate growth initiatives.

Our Capitals

Across our footprint, we create value for Olam and our stakeholders by investing in our non-financial Capital. Our management of these can enhance or erode value, as well as strengthen or affect trust with stakeholders.

Read about how we determine what’s material to our business and the important collaborations which help us make positive and marked impact.

Human Capital

The talent, skills and inspiration of our workforce, and our responsibility to provide a safe and healthy workplace where their rights are respected.

Natural Capital

The land, water, biodiversity and other ecosystem services required for food, feed and fibre crops to grow.

Intellectual Capital

The knowledge and IP that we create to keep us ahead of our competitors.

Social Capital

The relationships we forge and nurture with suppliers and communities where we operate, for long-term commercial success.

Manufactured Capital

The equipment, tools, and infrastructure owned, leased or controlled by our organisation and required to serve our customers.

Intangible Capital

The trust in our brand and our reputation which helps establish stakeholder partnerships.

Risk

The Risk Office monitors, controls, and reports on the key risks across the business.

Response to the TCFD

Olam is committed to ensuring transparency and action around climate-related risks and opportunities.

Sustainability Finance

Multi-capital accounting goes beyond financial accounting, and helps organisations become more resilient while also contributing positively to the world.