Olam publishes 2020 Annual Report

Date: 11.04.2021Source: Olam Group

Global food and agri-business Olam International Limited today published its 2020 Annual Report, which outlines the Company’s financial and non-financial performance for the year. This includes how Olam:

  • Successfully navigated the pandemic to emerge stronger, delivering robust operational financial performance in 2020
  • Strong execution of the Group’s Strategic Plan to drive sustainable growth
  • Made significant progress on its Re-organisation Plan to unlock and maximise long-term sustainable value via carve-out, IPO and concurrent demerger of Olam Food Ingredients (OFI) and pursue similar strategic options for Olam Global Agri (OGA)
  • Continued to live out its Purpose of ‘Reimagining Global Agriculture and Food Systems’

Said Sunny Verghese, Co-Founder and Group CEO of Olam: “2020 was one of our strongest years on record as we delivered operational earnings growth of 36.0% to S$677.8 million even as we contended with the COVID-19 pandemic. We also made significant progress on our transformational Re-organisation Plan to unlock and illuminate the current value of our business and develop new strategic pathways that drive sustainable growth for the Group.

“As a new standalone operating group, OGA is uniquely positioned to meet the growing demand for food staples and feed across high-growth emerging markets. In the past year, our Rice brand distribution business broke records, our integrated flour and pasta manufacturing business became Nigeria’s leading pasta provider, and we are meeting the need for more traceable, sustainable agricultural commodities through platforms and initiatives like AtSource and the Sustainable Rice Platform.” For more visit olamgroup.com

David Cox / IDM

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