Golden-Agri Resources (GAR) has reported a net profit of US$284 million ($369.8 million) for the 9MFY2025 ended Sept 30, 29% higher y-o-y. Net profit for the 3QFY2025 stood at US$124 million, 17% higher q-o-q.
9MFY2025 revenue was up by 21% y-o-y to a record US$9.53 billion, mainly due to improved plantation output and a 17% increase in crude palm oil (CPO) prices, higher output and a “modest increase” in downstream volume.
For the 9MFY2025, upstream palm product output for CPO and palm kernel (PK) rose by 6% y-o-y to 1.99 million metric tonnes (MT) while downstream sales volume inched up by 1% y-o-y to 8.7 million MT.
Gross profit for the 9MFY2025 rose by 32% y-o-y to US$1.38 billion while 9MFY2025 ebitda grew by 16% y-o-y to US$882 million. Ebitda margin stood at 9.3%.
That said, the gains were tempered by a deeper foreign exchange (forex) loss of US$15 million from US$2 million in the same period before.
In the 3QFY2025, gross profit rose by 17% q-o-q to US$509 million while ebitda was up by 3% q-o-q to US$316 million.
See also: Seatrium’s net order book at $16.6 bil
According to GAR, the group has continued replanting its old estates as part of its long-term yield improvement initiative and as such, its planted area fell to 531,000 hectares as at Sept 30. Of this, 491,000 hectares were mature. Nucleus and plasma estates made up 414,000 and 117,000 hectares of this area, respectively.
Fruit yield for the 9MFY2025 rose by 6% y-o-y to 13.6 tonnes per hectare supported by favourable weather conditions. This brought the total fruit output to 6.7 million with a corresponding increase in palm product output of almost 2.0 million tonnes, 6% higher y-o-y.
In its downstream business, GAR saw merchandising volumes increase over the last two quarters, resulting in increased sales volume for the nine-month period.
Shares in GAR closed at 28 cents on Nov 12.
