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Golden Agri-Resources (E5H) investor relations material
Golden Agri-Resources Q3 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
9M 2026 revenue exceeded US$10bn, up 6% YoY; EBITDA rose 10% to US$970m and net profit attributable to owners increased 16% to US$330m.
3Q EBITDA and net profit each rose 32% QoQ, supported by higher plantation output and investment income.
Resilient integrated operations maintained downstream sales volumes amid global market volatility.
Financial highlights
9M revenue US$10,085m, up 6% YoY; gross profit US$1,703m, up 24%.
9M EBITDA US$970m, up 10% YoY; net profit US$330m, up 16%.
3Q revenue US$3,483m, up 3% QoQ; gross profit US$669m, up 15%; EBITDA US$414m, up 32%.
3Q net profit US$162m, up 32% QoQ; 9M FX gain US$13m vs loss of US$15m in 9M 2025, while interest expense was slightly lower.
Outlook and guidance
El Niño-related drought is expected to affect palm yields in 2027 and has temporarily delayed planned replanting.
Supply constraints from ageing trees in Indonesia and Malaysia, alongside weather and geopolitical uncertainty, are expected to support vegetable oil prices, with near-term volatility likely to persist.
No material operational or financial impact from current drought-related fire risks is anticipated; prevention, monitoring and response efforts have been enhanced.
- Downstream strength cushioned lower CPO prices and weaker plantation output.E5H
H1 2023 - Lower CPO prices cut FY profit, but EBITDA held at US$986m with a 10% margin.E5H
H2 2023 - Lower CPO prices cut profit, while downstream growth and low net leverage supported resilience.E5H
Q1 2023 TU - Higher downstream volumes cushioned weaker prices, but FX and seasonal costs cut profit.E5H
Q1 2024 TU - Higher CPO prices and plantation output lifted Q1 profit despite weaker downstream volumes.E5H
Q1 2025 TU - Revenue and EBITDA grew, but FX losses and finance costs cut profit as downstream offset weaker output.E5H
H1 2024 - Higher CPO prices and H2 recovery lifted FY EBITDA 12% despite lower output.E5H
H2 2024 - Record H1 revenue and stronger upstream gains offset weaker downstream margins.E5H
H1 2025 - Record revenue and stronger EBITDA, led by upstream gains, marked FY 2025.E5H
H2 2025
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