We are pleased to share our 2023 Annual Report “Strengthening Connections for a Sustainable Future” highlighting our financial and non-financial disclosures. Key updates include growth plans, sustainability focus and plans to nurture our other businesses.
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“We delivered solid earnings growth alongside continued execution of our strategy. We took a deliberate call to focus only on selective volume growth opportunities that maximise earnings and returns. This was reflected in the strong earnings growth in 2023.” ofi CEO, A. Shekhar

“We have maintained discipline in our use of capital and focused our investments that are earnings and returns accretive while enhancing our sustainability impact.” Olam Group CFO, N Muthukumar

“We are confident of our growth prospects and are taking steps to ensure we continue to drive returns for investors amid a challenging macroeconomic backdrop and uncertain geopolitical conditions.” Olam Group CEO, Sunny Verghese

Olam Agri’s resilient performance was led by exceptional performance and growth in the Food & Feed – Processing & Value-added segment.

Olam Agri delivered a 12.8% YoY growth in EBIT performance, reflecting the robust contribution from the Food & Feed – Processing & Value-added segment.

“The double-digit EBIT growth at ofi & Olam Agri in H2 2023 reflects their differentiated, unique business propositions and solid execution post Re-organisation.” Olam Group CEO, Sunny Verghese

ofi reports 11.1% YoY growth in EBIT performance, led by strong growth in Ingredients & Solutions, an endorsement of its value-added growth strategy.

Olam Group reports PATMI of S$278.7 million for FY2023; Aims to explore other strategic options in its Re-organisation journey to unlock value for shareholders.

“We’re pleased with our underlying H1 performance demonstrating accelerated recovery in our Ingredients & Solutions segment. We continue to execute on our strategic priorities & ongoing investments to deliver exciting & value-added opportunities for customers.” ofi CEO A. Shekhar

“We’ve been budgeting for higher interest costs & optimising cost structures overall. Some of the higher interest costs will be recovered through increased selling prices as we reprice contracts, putting us in a better position for the second half.” Olam Group CFO, N Muthukumar

'The focused & differentiated strategies of our operating groups allow us to capture opportunities across the food, feed & ingredients space, offering a unique value proposition for investors & stakeholders while retaining the Olam DNA.” Olam Group CEO, Sunny Verghese

Olam Agri’s resilient H1’23 performance was led by exceptional performance & growth in the Food & Feed – Processing & Value-added segment, driven by resilient demand for our products in key markets, accompanied by better margins.

Olam Agri delivered a strong H1 2023 performance in line with historical phasing of earnings between H1 and H2 but weaker and more normalised against an exceptionally strong performance in H1 2022.

ofi reports good H1 EBIT performance, led by Ingredients & Solutions as contract repricing continues to flow through within anticipated time lag.

Olam Group reports Operational PATMI of S$184m for H1 2023; Aims to list Olam Agri by H1 2024, ofi to be listed sequentially after, subject to all requisite approvals and prevailing market conditions. #OlamH123Results

🏆Olam Group has entered Fortune's Global 500 list for the third consecutive time! Thank you to all our employees, farmers and stakeholders for their contributions. fortune.com/ranking/fortun…

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The flagship report by The Business Commission to Tackle Inequality highlights Olam's commitment to delivering #nutrition in Africa, with a target of making 1 trillion servings of #fortified foods available in Africa by 2030. bit.ly/3HHXrhX