Olam International

Olam's 2Q earnings down 36.4% to $94 mil on coffee and peanut business
SINGAPORE (Aug 14): Olam International says 2Q18 earnings dropped by 36.4% to $93.9 million, compared to $147.7 million in 2Q17. The weaker bottomline was due to a downcycle in the coffee industry, bad weather conditions in peanut farming in Argentina and lower contribution from edible oils. The results bring 1H18 earnings to $251.9 million, 13.6% lower than $291.5 million in ...
Olam reports 9.8% rise in 1Q18 earnings to $158 mil on lower finance costs and tax expenses
SINGAPORE (May 14): Agri-business group Olam International, which grows, trades and processes food and industrial raw materials, reported a 9.8% rise in 1Q18 earnings to $158 million from $143.8 million a year ago on reduced net finance costs and lower taxation.   Sales of goods and services rose 8.5% to $6.3 billion from $5.8 billion a year ago while other income more than doubled to $30 ...
Olam pays $3.1 mil for 29% stake in coffee & nuts JV in Spain
SINGAPORE (Apr 19): Olam International says it has paid 1.88 million euros ($3.05 million) for a 29% stake in a joint venture (JV) company with Guzman Global, the distributor of industrial raw materials as well as coffee & nuts. Guzman Global holds the remaining 71% stake. Based in Spain, the JV company is named Guzman Coffee & Nuts (GC&N), and is now an associated company of ...
Olam secures US$163 mil worth of medium-term loans
SINGAPORE (Mar 28): Olam International says it has secured a total of US$163 million ($213.4 million) in loans from Asian Development Bank (ADB) and Japan International Cooperation Agency (JICA). The medium-term financing facilities comprise two tranches: a US$83 million five-year facility for the group, as well as a US$80 million seven-year facility for its subsidiary, Café Outspan Vietnam ...
Olam eyes fish farming in Africa to tap growing middle class
(Mar 28): Olam International, one of the world’s largest food traders, is considering expanding into fish farming in Africa to tap demand from a growing and more affluent population. The Singapore-based firm is conducting a feasibility study on farming fish in West Africa, likely in Nigeria, the continent’s most populated country, Chief Operating Officer Shekhar Anantharaman said. Olam ...
Wilmar acquires remaining 50% stake in investment holding company from Olam for $195 mil
SINGAPORE (Mar 21): Wilmar International announced that its direct wholly-owned subsidiary, Wilmar Resources, has acquired a 50% equity interest in Nauvu Investments from Olam International for US$148 million ($194.9 million). Of the total consideration of US$148 million, US$85.4 million comprises repayment of shareholder’s loan, which is subject to adjustments as provided in the sale and ...
Olam reports doubling of 4Q earnings to $265 mil on one-off gains, lower charges
SINGAPORE (Feb 27): Olam reported 4Q earnings more than doubled to $265.1 million from a year ago on one-off gains from divestments as well as lower depreciation and amortisation, and net finance charges. Operational PATMI, which excludes exceptional items, grew 7.2% y-o-y to $109.7 million from $102.3 million a year ago. Revenue for 4Q rose 18.5% to $7.2 billion. EBITDA was down by 10.4% ...
Olam a step closer to becoming cocoa bean processing heavyweight with opening of Chicago plant
NEW YORK (Feb 6): Global commodities trader Olam International is building a cocoa powder manufacturing facility outside Chicago, according to a company spokesman and a local official. The plant marks the latest step in the transformation of the large Singapore-based cocoa trader into a bean processing heavyweight. In 2015, Olam scooped up the cocoa assets of rival Archer Daniels Midland ...
Olam sells 50% stake in Indonesian subsidiary to Mitr Phol for $135 mil
SINGAPORE (Dec 18): Olam International is selling a 50% stake in its wholly-owned subsidiary, Far East Agri, for US$100 million ($135 million) to Mitr Phol Sugar Corporation, Asia’s largest and the world’s fourth largest sugar producer. Far East operates a sugar refinery in Indonesia, PT Dharmapala Usaha Sukses (PT DUS) in Cilacap, Central Java. Olam will retain a remaining 50% stake in ...
Olam reports 17.5% rise in 3Q earnings to $24.1 mil on better performance across most segments
SINGAPORE (Nov 15): Olam International reported a 17.5% rise in 3Q earnings to $24.1 million from $20.5 million a year ago, which came on the back of strong volume growth and improved operational performance across most segments. This brings 9M17 earnings to $315.6 million, up 26.7% from last year. Revenue for the three months to Sept grew 41.7% to $6.7 billion from $4.7 billion a year ago ...