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Integrated Operations and Downstream Sales Contribute to Resilient Financial Performance for GAR in the First Quarter of 2024

Integrated Operations and Downstream Sales Contribute to Resilient Financial Performance for GAR in the First Quarter of 2024
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Golden Agri-Resources 2023 Rev $9 76B Vs $11 44B >E5H SG

Continued Focus on Optimising Margins Across the Value Chain Underpins Solid Performance for Golden Agri

Golden Agri-Resources Ltd ("GAR" or the "Company") announced a solid financial performance for 2023, marking a normalisation following record-high CPO prices in 2022.

Golden Agri-Resources Focuses on Value-Added Product Offering to Deliver Healthy Performance Amidst Weaker Prices in 2023

Golden Agri-Resources Ltd ("GAR" or the "Company")'s financial results for the nine-month period ending September 2023 remained firm, in line with industry trends during this period. Average CPO market price (FOB Belawan) in the nine-month period of 2023 was US$922 per tonne, continuing the normalisation of prices after 2022's record high of US$1,368 per tonne. Revenue decreased by 15 percent year-on-year to US$7.32 billion, with expanded sales volume partly offsetting lower average selling pric

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