Financial Press Release
14th Aug, 2024
Olam Group delivers 8.3% growth in EBIT, steady PATMI for H1 2024
Singapore
Olam Group:
Operating profit (“EBIT”) grew 8.3% with steady PATMI at S$48.1 million, bolstered by strong profit growth from ofi
Bought back 25.1 million shares equivalent to S$28.5 million; mandate renewed in April 2024 to continue buyback programme of up to a maximum of 5.0% of outstanding shares
Board declares interim dividend of 3.0 cents per share
ofi:
EBIT grew 71.5% year-on-year (YoY) to S$475.5 million, driven by 112.9% growth in Ingredients & Solutions
Olam Agri:
EBIT declined 8.4% against a strong prior half year; Food & Feed - Processing & Value-Added segment delivers continued growth even against its exceptional H1 2023 results
Re-organisation update:
The Group remains committed to list ofi and Olam Agri, while concurrently exploring other strategic options to unlock value
It will consider both internal and external factors, such as business performance of all three operating groups, prevailing
Press release
7th Aug, 2024
Olam Group Secures US$1.5 billion Loan
Singapore
Olam Group Limited (“Olam Group”) announced today that its wholly owned subsidiary, Olam Holdings Pte Ltd, has secured a US$1.5 billion loan facility (the “Facility”).
The Facility has Olam Holdings Pte Ltd as borrower with a tenor of 1.5 years. The Facility is guaranteed by Olam Group. Proceeds from the Facility will be applied towards refinancing existing debt of Olam Group.
Citibank, Emirates NBD Bank, and HSBC are the Senior Mandated Lead Arrangers for the Facility. HSBC is the Facility Agent.
News
9th Nov, 2023
Olam Agri and Nutrifoods Support Akosombo Flood Victims
Olam Agri, the country’s leading supply chain manager in agri-commodity, and its sister company, Nutrifoods, a top food manufacturer in Ghana, on Friday, presented a consignment of relief items to flood victims of the Akosombo Dam spillage.
In mid-October, the Volta River Authority (VRA) began spilling water from the Akosombo reservoir to protect the dam from overtopping.
The influx of large volumes of water has raised levels, causing excessive flooding in several low-lying areas along the Volta River, including, but not limited to, Mepe, Battor, Sogakope, Mafi, Adidome, and Ada.