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    E5H   MU0117U00026

GOLDEN AGRI-RESOURCES LTD

(E5H)
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Golden Agri Resources : Half Year 2021 Financial Statement and Dividend Announcement

08/12/2021 | 09:31pm EDT

GOLDEN AGRI-RESOURCES LTD

Half Year Financial Statement And Dividend Announcement

FINANCIAL HIGHLIGHTS

1st Half

1st Half

2021

2020

Change

US$'000

US$'000

%

Revenue

4,454,329

3,390,569

31.4

Gross Profit

1,060,877

388,538

173.0

EBITDA1

522,718

189,225

176.2

Underlying profit/(loss)2

245,963

(11,377)

n.m.

Net profit/(loss) attributable to owners of the Company

153,214

(156,870)

n.m.

Interim dividend per share (SGD cents)

0.528

-

n.m.

Notes:

  1. Earnings before tax, non-controlling interests, interest on borrowings, depreciation and amortisation, net gain/(loss) from changes in fair value of biological assets, foreign exchange loss and exceptional item.
  2. Net profit/(loss) attributable to owners of the Company excluding net effect of net gain or loss from changes in fair value of biological assets and depreciation of bearer plants, exceptional item and other non-operating items (foreign exchange gain or loss, net tax impact from tax- based asset revaluations, and other deferred tax income or expense).
  1. Condensed interim consolidated income statement and consolidated statement of comprehensive income

UNAUDITED CONSOLIDATED INCOME STATEMENT

FOR THE PERIOD ENDED 30 JUNE 2021

1st Half

1st Half

2021

2020

Change

Note

US$'000

US$'000

%

Revenue

E4

4,454,329

3,390,569

31.4

Cost of sales

(3,393,452)

(3,002,031)

13.0

Gross Profit

1,060,877

388,538

173.0

Operating expenses

Selling expenses

(620,997)

(238,931)

159.9

General and administrative expenses

(147,171)

(137,910)

6.7

Total operating expenses

(768,168)

(376,841)

103.8

Operating profit

292,709

11,697

n.m.

Other income/(expenses)

Financial income

11,173

7,328

52.5

Financial expenses

(82,518)

(70,277)

17.4

Share of results of associated companies, net of tax

2,008

1,026

95.7

Share of results of joint ventures, net of tax

13,443

(113)

n.m.

Foreign exchange loss

(8,771)

(48,253)

(81.8)

Other operating income/(expense)

30,767

(3,982)

n.m.

(33,898)

(114,271)

(70.3)

Exceptional item

Impairment loss of investment in a joint venture

-

(5,372)

(100.0)

Profit/(Loss) before tax

E5

258,811

(107,946)

n.m.

Tax

E6

(85,128)

(38,515)

121.0

Profit/(Loss) for the period

173,683

(146,461)

n.m.

Attributable to:

Owners of the Company

153,214

(156,870)

n.m.

Non-controlling interests

20,469

10,409

96.6

173,683

(146,461)

n.m.

Note: n.m. - not meaningful.

2

  1. Condensed interim consolidated income statement and consolidated statement of comprehensive income (cont'd)

UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 30 JUNE 2021

1st Half

1st Half

2021

2020

US$'000

US$'000

Profit/(Loss) for the period

173,683

(146,461)

Other comprehensive income/(loss):

Items that will not be reclassified subsequently to profit or loss:

Actuarial gain/(loss) on post-employment benefits

503

(1,907)

Share of other comprehensive income of:

A joint venture

5

-

An associated company

12

2

Changes in fair value of financial assets at fair value through other

comprehensive income

74,519

(48,314)

Items that may be reclassified subsequently to profit or loss:

Foreign currency translation differences on consolidation

(5,420)

(15,050)

Share of other comprehensive loss of:

Joint ventures

(1,018)

(2,020)

Associated companies

(411)

(104)

Other comprehensive income/(loss), net of tax

68,190

(67,393)

Total comprehensive income/(loss) for the period, net of tax

241,873

(213,854)

Total comprehensive income/(loss) attributable to:

Owners of the Company

223,207

(220,237)

Non-controlling interests

18,666

6,383

241,873

(213,854)

ADDITIONAL INFORMATION

Earnings before tax, non-controlling interests, interest on borrowings, depreciation and amortisation, net gain/(loss) from changes in fair value of biological assets, foreign exchange loss and exceptional item ("EBITDA")

1st Half

1st Half

2021

2020

Change

US$'000

US$'000

%

Earnings before tax, non-controlling interests, interest

522,718

189,225

176.2

on borrowings, depreciation and amortisation, net

gain/(loss) from changes in fair value of biological

assets, foreign exchange loss and exceptional item

("EBITDA")

Interest on borrowings

(80,751)

(68,726)

17.5

Depreciation and amortisation

(176,929)

(166,938)

6.0

Net gain/(loss) from changes in fair value of biological

2,544

(7,882)

n.m.

assets

Foreign exchange loss

(8,771)

(48,253)

(81.8)

Exceptional item

-

(5,372)

(100.0)

Profit/(Loss) before tax

258,811

(107,946)

n.m.

Note: n.m. - not meaningful.

3

B

Condensed interim statements of financial position

UNAUDITED STATEMENTS OF FINANCIAL POSITION

Group

Company

As at

As at

As at

As at

30/6/2021

31/12/2020

30/6/2021

31/12/2020

Note

US$'000

US$'000

US$'000

US$'000

Assets

Current Assets

Cash and cash equivalents

E9

466,769

402,921

188

515

Short-term investments

E10

574,409

694,508

-

-

Trade receivables

598,546

737,203

-

-

Other current assets

E11

459,340

501,127

2,895

2,761

Biological assets

89,042

86,498

-

-

Inventories

1,349,568

935,459

-

-

3,537,674

3,357,716

3,083

3,276

Non-Current Assets

Long-term receivables and assets

E12

177,944

213,629

-

-

Long-term investments

E14

968,571

872,642

175,612

163,592

Subsidiary companies

-

-

3,429,024

3,429,024

Associated companies

24,775

23,359

-

-

Joint ventures

165,385

152,942

-

-

Investment properties

106

107

-

-

Property, plant and equipment

2,637,315

2,709,883

-

-

Bearer plants

1,379,520

1,416,734

-

-

Deferred tax assets

151,778

180,517

-

-

Intangible assets

196,974

198,851

-

-

5,702,368

5,768,664

3,604,636

3,592,616

Total Assets

9,240,042

9,126,380

3,607,719

3,595,892

4

B Condensed interim statements of financial position (cont'd)

UNAUDITED STATEMENTS OF FINANCIAL POSITION (cont'd)

Group

Company

As at

As at

As at

As at

30/6/2021

31/12/2020

30/6/2021

31/12/2020

Note

US$'000

US$'000

US$'000

US$'000

Liabilities and Equity

Current Liabilities

Short-term borrowings

E15

1,666,854

1,792,049

-

-

Bonds and notes payable

E15

96,054

153,859

-

-

Lease liabilities

E15

14,334

18,396

-

-

Trade payables

596,271

604,360

-

-

Other payables

E13

390,368

297,693

1,616

1,794

Taxes payable

48,214

22,820

-

-

2,812,095

2,889,177

1,616

1,794

Non-Current Liabilities

Bonds and notes payables

E15

213,163

113,195

-

-

Long-term borrowings

E15

1,047,926

1,042,740

-

-

Lease liabilities

E15

21,422

24,881

-

-

Deferred tax liabilities

153,916

154,676

-

-

Long-term payables and liabilities

366,169

470,097

289,774

231,813

1,802,596

1,805,589

289,774

231,813

Total Liabilities

4,614,691

4,694,766

291,390

233,607

Equity Attributable to Owners of the Company

Issued capital

E16

320,939

320,939

320,939

320,939

Share premium

1,216,095

1,216,095

1,850,965

1,850,965

Treasury shares

E16

(37,517)

(37,517)

(37,517)

(37,517)

Other paid-in capital

184,318

184,318

-

-

Other reserves

Option reserve

31,471

31,471

31,471

31,471

Currency translation reserve

(15,808)

(10,411)

-

-

Fair value reserve

139,131

64,612

(91,453)

(91,453)

PRC statutory reserve

4,330

4,330

-

-

Other reserve

36,334

35,463

-

-

195,458

125,465

(59,982)

(59,982)

Retained earnings

2,544,148

2,436,627

1,241,924

1,287,880

4,423,441

4,245,927

3,316,329

3,362,285

Non-Controlling Interests

201,910

185,687

-

-

Total Equity

4,625,351

4,431,614

3,316,329

3,362,285

Total Liabilities and Equity

9,240,042

9,126,380

3,607,719

3,595,892

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

gar - Golden Agri-Resources Ltd. published this content on 13 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 August 2021 01:30:06 UTC.


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