Golden Agri-Resources Ltd (GAR) booked a net profit of US$400 million for the year ended 31 December 2025, up 10 per cent year-on-year, supported by firmer crude palm oil (CPO) prices and higher sales volumes in the second half.
Revenue rose 19 per cent to a record US$12.95 billion, while earnings before interest, tax, depreciation and amortisation (EBITDA) increased 14 per cent to US$1.26 billion, maintaining a margin of 9.7 per cent. The board proposed a final dividend of 0.952 Singapore cents a share, 18 per cent above last year, to be paid on 20 May 2026 subject to shareholder approval. The payout equates to 18 per cent of underlying profit and 23 per cent of net profit.
Upstream plantations and palm-oil mills generated EBITDA of US$709 million, 25 per cent higher YoY, supported by a 2 per cent increase in palm product output to 2.8 million tonnes and a 13 per cent sequential rise in second-half fruit yield. This segment contributed 56 per cent of group EBITDA with a margin of 28.8 per cent. Downstream operations—comprising refining, merchandising and specialty products—delivered revenue of US$12.8 billion on a 3 per cent lift in sales volumes to 11.9 million tonnes; segmental EBITDA edged up 3 per cent to US$550 million, though margin narrowed to 4.3 per cent amid volatile trading conditions.
Profit growth was partially offset by a sharp decline in foreign-exchange gains to US$2 million from US$42 million a year earlier. The group also booked a US$3 million loss from changes in biological-asset fair values, versus a US$12 million gain in FY 2024.
Throughout 2025 GAR advanced replanting and yield-enhancement initiatives, rejuvenating 16,800 hectares with higher-yielding seeds and installing three additional methane-capture plants, bringing the total to 11. Downstream, construction began on a 110-tonne-per-hour biomass boiler powered partly by palm kernel meal pellets to lower emissions and improve circular resource use. The company also achieved full traceability to mill for all major agri-commodity supply chains and expanded its independent-smallholder programme to 11,250 participants.
Chairman and chief executive Franky O. Widjaja said the integrated model helped maintain profitability despite market volatility. He noted that long-term demand is underpinned by population and income growth, renewable-energy mandates and oleochemical applications, while supply remains constrained by ageing plantations and replanting cycles. Widjaja added that the board balanced shareholder returns with the need to preserve a strong balance sheet given potential volatility from weather, geopolitics and energy markets.
Looking ahead, GAR intends to continue investing in technology, operational excellence and responsible production to strengthen its competitive position and extract additional value across its supply chain.