Golden Agri-Resources Ltd (GAR) has announced a record high revenue of $6.2 billion for the first half of 2025, buoyed by a 19% increase in crude palm oil (CPO) market prices. The company’s integrated agribusiness model has enabled it to withstand market fluctuations, capitalising on higher plantation output despite reduced sales volumes.
The first half of 2025 saw GAR’s EBITDA grow by 14% year-on-year to $566 million, with a margin of 9.2%. The company’s underlying profit rose by 23% to $232 million, whilst net profit surged by 56% to $160 million, aided by lower interest expenses and reduced foreign exchange losses. GAR’s financial health is further reflected in its decreased gearing ratio and net debt to EBITDA, now at 0.61 times and 0.22 times, respectively.
GAR Chairman and CEO, Franky O. Widjaja, noted, “Favourable weather conditions have helped Indonesian palm oil to continue its recovery in 2025 in line with global vegetable oil supply trends.” He added that whilst global economic growth is slowing, there is a gradual improvement in palm oil demand, driven by staple food consumption and the implementation of the B40 biodiesel policy.
In the upstream segment, GAR’s yield intensification efforts and favourable weather conditions led to a 9% increase in fresh fruit bunch productivity, reaching 8.8 tonnes per hectare. This resulted in a total of 4.4 million tonnes of fresh fruit bunches. The downstream segment, despite a 2% dip in sales volume, saw a 20% increase in revenue to $6.1 billion, although EBITDA decreased by 13% due to weaker refining margins.
GAR continues to advance its sustainability ambitions through its “Collective for Impact” initiative, embedding environmental, social, and governance (ESG) principles into its operations. The company has introduced a new Responsible Agri-Commodity Sourcing Policy and expanded community programmes to enhance food security and climate resilience.
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