Golden Agri-Resources (E5H) Q3 2026 TU earnings summary

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.