Golden Agri Sees Strong Q3 Results on Exceptional Gains and Better Downstream Performance
No-moat Golden Agri reported strong third-quarter results, with EBITDA up by 29% year over year to USD 165 million, primarily driven by 121% growth in the palm and lauric segment’s EBITDA on the back of higher average selling prices and sales volume. Additionally, the firm benefited from a net tax credit of USD 111 million and a foreign exchange gain of USD 20 million during the quarter, which saw the company’s net profit rising to USD 220 million from a loss of USD 16 million a year ago. We inc...Golden Agri-Resources is an investment holding company. Co. and its subsidiaries have four reportable operating segments: Plantation and Palm Oil Mills, which comprises the products from the upstream business; Palm and Laurics, which comprises the processing and merchandising of palm based products, i.e. bulk and branded as well as oleochemicals; Oilseeds, which comprises the processing and merchandising of oilseeds based products, i.e. bulk and branded; and Others, which comprises the production and distribution of food and consumer products in China and Indonesia.
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