Golden Agri-Resources posts $710m EBITDA for H1 2021

The recorded EBITDA is a 176% increase from the previous year’s period.

Golden Agri-Resources announced today that they have accumulated $710m (US$523m) in earnings before interest, taxes, depreciation, and amortization (EBITDA) for the first half of 2021, a 176% increase from the same period last year.

This is despite the higher export tax and levy charged during this year.

Underlying profit and net profit, meanwhile, also saw an increase to $334.3m (US$246M) and $207.91m (US$153m).

GAR Chairman and CEO Franky O. Widjaja also announced the distribution of an interim dividend of 0.53 Singapore cents per share.

“The Board is proud of the continued strong performance delivered by GAR during the first semester of the year. Our financial position is also healthier resulting in lower leverage and a strengthened liquidity position. With its confidence towards the company’s performance and industry outlook, the board declares the distribution of an interim dividend of 0.528 Singapore cents per share.”

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