FINANCIAL STATEMENTS AND RELATED ANNOUNCEMENT::FULL YEARLY RESULTS

Issuer & Securities

Issuer/ Manager

GOLDEN AGRI-RESOURCES LTD

Securities

GOLDEN AGRI-RESOURCES LTD - MU0117U00026 - E5H

Stapled Security

No

Announcement Details

Announcement Title

Financial Statements and Related Announcement

Date &Time of Broadcast 25-Feb-2021 17:19:36

Status

New

Announcement Sub Title

Full Yearly Results

Announcement Reference

SG210225OTHR5YT2

Submitted By (Co./ Ind. Name)

Kimberley Lye Chor Mei

Designation

Director, Corporate Secretarial

Description (Please provide a detailed description of the event in the box below - Refer to the Online help for the format)

Golden Agri-Resources Ltd has released its unaudited �nancial results for the fourth quarter and full year ended 31 December 2020. Please refer to the following attachments in relation thereto:

  • (1) Unaudited consolidated �nancial statements for the year ended 31 December 2020;

  • (2) Media Release; and

  • (3) Full Year 2020 Results Presentation.

Additional Details

For Financial Period Ended 31/12/2020

Attachments

GAR03-25-02-2021-Financial Results FY2020.pdf

GAR03-25-02-2021-Media Release FY2020.pdf

GAR03-25-02-2021-Results Presentation FY2020.pdf

Total size =1734K MB

GOLDEN AGRI-RESOURCES LTD

Full Year Financial Statement And Dividend Announcement

FINANCIAL HIGHLIGHTS

Revenue

Gross Profit

EBITDA1

Underlying profit 2

Underlying profit per share (USD cents)

Net profit attributable to owners of the Company

Total dividend per share (SGD cents)

Full Year 2020

US$'000

7,077,888 1,150,042

669,007 230,187

1.81

31,755

0.48

Full Year 2019

US$'000

6,431,799

831,467 696,695 271,815

2.13

193,977

0.58

Change %

10.0

38.3

(4.0)

(15.3)

(15.3)

(83.6)

(17.2)

2nd Half 2020

US$'000

3,687,319

761,504 479,782 241,564

1.90

188,625

2nd Half 2019

US$'000

3,265,267

486,899 498,761 287,153

2.25

240,364

Change %

12.9

56.4

(3.8)

(15.9)

(15.9)

(21.5)

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 gain/(loss) and exceptional items.

  • (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 items 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).

  • (3) n.m. - not meaningful.

PART I - INFORMATION REQUIRED FOR QUARTERLY (Q1, Q2 & Q3), HALF-YEAR AND FULL YEAR

ANNOUNCEMENTS

1(a)An income statement and statement of comprehensive income for the group together with a comparative statement for the corresponding period of the immediately preceding financial year

UNAUDITED CONSOLIDATED INCOME STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2020

Full Year

Full Year

2nd Half

2nd Half

2020

2019

Change

2020

2019

Change

US$'000

US$'000

%

US$'000

US$'000

%

Revenue

7,077,888

6,431,799

10.0

3,687,319

3,265,267

12.9

Cost of sales

(5,927,846)

(5,600,332)

5.8

(2,925,815)

(2,778,368)

5.3

Gross Profit

1,150,042

831,467

38.3

761,504

486,899

56.4

Operating expenses

Selling expenses

(548,864)

(354,650)

54.8

(309,933)

(181,410)

70.8

General and administrative

expenses

(295,266)

(341,115)

(13.4)

(157,356)

(190,912)

(17.6)

Total operating expenses

(844,130)

(695,765)

21.3

(467,289)

(372,322)

25.5

Operating profit

305,912

135,702

125.4

294,215

114,577

156.8

Other income/(expenses)

Financial income

15,787

18,154

(13.0)

8,459

7,353

15.0

Financial expenses

(141,384)

(166,524)

(15.1)

(71,107)

(84,665)

(16.0)

Share of results of associated

companies, net of tax

4,203

3,890

8.0

3,177

793

300.6

Share of results of joint ventures,

net of tax

619

(13,010)

n.m.

732

(5,347)

n.m.

Foreign exchange (loss)/gain

(32,099)

37,263

n.m.

16,154

34,092

(52.6)

Other operating income

31,820

242,628

(86.9)

35,802

227,611

(84.3)

(121,054)

122,401

n.m.

(6,783)

179,837

n.m.

Exceptional items

(Loss)/Gain on disposal of

subsidiaries

(265)

12,871

n.m.

(265)

1,379

n.m.

Allowance for impairment loss on

property, plant and equipment

(530)

(10,747)

(95.1)

(530)

(10,747)

(95.1)

Impairment loss of investment in

a joint venture

(5,372)

-

n.m.

-

-

-

(6,167)

2,124

n.m.

(795)

(9,368)

(91.5)

Profit before tax

178,691

260,227

(31.3)

286,637

285,046

0.6

Tax

(116,580)

(47,159)

147.2

(78,065)

(36,656)

113.0

Profit for the year/period

62,111

213,068

(70.8)

208,572

248,390

(16.0)

Attributable to:

Owners of the Company

31,755

193,977

(83.6)

188,625

240,364

(21.5)

Non-controlling interests

30,356

19,091

59.0

19,947

8,026

148.5

62,111

213,068

(70.8)

208,572

248,390

(16.0)

Note:

(1) n.m. - not meaningful.

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gar - Golden Agri-Resources Ltd. published this content on 25 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 February 2021 09:39:06 UTC.