Financial Press Release
28th Feb, 2025
Olam Group delivers 9.2% EBIT growth in 2024 driven by ofi and Olam Agri
Singapore
Group operating profit (“EBIT”) up 9.2% in 2024, on growth at both ofi and Olam Agri
ofi: Double-digit EBIT growth of 29.1% year-on-year (YoY), led by Ingredients & Solutions segment that reported an increase of 41.8%
Olam Agri: EBIT grew 5.8% YoY led by 32.2% YoY growth in Fibre, Agri-industrials & Ag Services
Board recommends a second and final dividend of 3.0 cents per share, taking total dividends to 6.0 cents per share for 2024 (2023: 7.0 cents)
Re-organisation update1:
Olam Group to sell 44.58% in Olam Agri to SALIC for approximately US$1.78 billion, at an implied 100% equity valuation for Olam Agri of US$4.00 billion;
Olam Group to sell its remaining 19.99% stake in Olam Agri to SALIC at the end of three years from completion of the above sale at the Closing Valuation1 plus 6% IRR
The Group will focus on seeking strategic options to unlock value for the Remaining Olam Group businesses and ofi, including the pursuit of an ofi IPO.
Press release
25th Feb, 2025
Olam Agri secures financing of US$2,000 million
Singapore
Olam Group Limited (“Olam Group”) announced today that its food, feed and fibre operating group, Olam Agri, has secured two financing facilities totalling US$2,000 million (“the Facilities”).
The Facilities have Olam Agri subsidiaries, namely, Olam Global Agri Pte. Ltd. and Olam Global Agri Treasury Pte. Ltd. as borrowers with maturity in July 2028. The Facilities are initially guaranteed by Olam Group which will be assumed by Olam Agri upon demerger of Olam Agri. Proceeds from the Facilities will be applied towards refinancing of Olam Agri’s existing loans and for general corporate purposes.
For the US$1,250 million facility, the Senior Mandated Lead Arrangers are Barclays Bank Plc, Citigroup Global Markets Asia Limited, DBS Bank Ltd., JP Morgan Chase Bank, and The Hong Kong and Shanghai Banking Corporation Limited.
For the US$750 million facility, the Senior Mandated Lead Arrangers are Mizuho Bank Ltd., MUFG Bank Ltd., and Sumitomo Mitsui Bankin
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.
Blog
20th Mar, 2023
Building a Business that Conserves Forests, One Step At a Time
“I have worked in the Congo basin for years, but nothing could have prepared me for the moment when I was just steps away from Buka, who belongs to one of the four groups of habituated silverback gorillas living in the vicinity of our forest concessions in the Congo Basin,” says Vincent Istace, Head of Corporate Responsibility & Sustainability at Congolaise Industrielle des Bois (CIB), an Olam Agri subsidiary.
Personal pictures of Paki Paki taken by Vincent Istace in 2021. © Vincent Istace
“This landscape is ideal for wildlife viewing compared to other natural forests in the area. The forest is more open, making it easier to see and spot gorillas and other wildlife. This feature has made sites such as Mondika one of the world’s most interesting spots for the study of great apes.
It may surprise some to hear that critical gorilla and chimpanzee habitats around the buffer zones of Nouabale-Ndoki National Park, are also where sustainable timber harvesting is practiced.”
Forest
