Olam Reports Robust 2020 Performance Amid The Pandemic, With 36.0% Growth In Operational PATMI to S$677.8M

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Strong operating performance by new Operating Groups

  • H2 2020 Operational PATMI up 90.1% to S$475.7 million
  • Lower reported PATMI in H2 2020 (-S$87.0 million) and 2020 (S$245.7 million) from prudent one-off impairment mainly from Olam Palm Gabon (OPG)
  • Strong operating performance growth of 43.3% for OFI in H2 2020 after Covid-19 impact in H1 2020
  • Strong operating performance growth of 40.3% for OGA in 2020
  • Significant progress on Re-organisation Plan with planned IPO of OFI by H1 2022 and de-merger from Olam Group in conjunction with the IPO; Pursuing similar strategic options for OGA in parallel
  • The Board of Directors recommends a final dividend of 4.0 cents per share; the total dividend for 2020 would be 7.5 cents per share (2019: 8.0 cents)

Olam Co-Founder and Group CEO, Sunny Verghese said:

“We delivered strong growth in Operational PATMI of 36.0% to S$677.8 million for 2020, reflecting the strength of our operating groups and their constituent businesses.

We delivered this strong set of results while achieving significant progress in our transformative Re-organisation Plan and we are excited about the sustained value creation potential arising from this re-organisation.

Olam reports resilient performance in H1 2020, with 44.4% growth in PATMI amid Covid-19

“Our success is underpinned by a radically different sustainability offering, enabled by technology that has strengthened our strategic partnerships with our customers. This performance is also a result of the skill and resourcefulness of our team to capture market opportunities, strong risk management discipline and demonstrated operational capability.

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“We are particularly pleased to have successfully navigated through Covid-19 thus far by focusing on the safety and well-being of our employees, ensuring food safety to our customers, robust business continuity plans in each of our sites and locations, managing through demand, supply and financial shocks, and partnering with our communities to support them with Covid-19 assistance and resilience measures.

“We are seeing market conditions and sentiments beginning to improve as economies snapback from the worst impacts of Covid-19 in 2020 and we expect this favourable market environment to continue to improve in 2021.”

Olam Group Financial Performance

Global food and agri-business, Olam Group, today reported strong results for H2 2020 and 2020, with solid progress on its Re-organisation Plan, announced in January 2020.

H2 2020

  • Revenue increased by 9.9% year-on-year (YoY).
  • Operational PATMI grew 90.1% to S$475.7 million. However, due to one-off exceptional
    items reported PATMI was negative at S$87.0 million.

2020

  • Revenue increased by 8.6% YoY. OGA contributed 60.1% of total Group revenue, OFI 35.0%, and OIL 4.9% respectively.
  • Operational PATMI grew 36.0% to S$677.8 million. However, due to net exceptional items, reported PATMI was down 22.3% to S$245.7 million
  • Exceptional items include the one-off and non-cash impairment charge of S$483.9 million on our investment in OPG; partly offset by gains from divestments of deprioritised assets.
  • EBIT increased 1.2% to S$1.1 billion as the growth in contribution from OGA was offset by the reduced contribution from OIL: OFI’s results were resilient and contributed to 72.1% of total Group EBIT, OGA contributed 43.2% share, and OIL -15.3%.
  • FCFE negative at S$592.2 million on the increased deployment of working capital due to higher volumes as well as higher commodity prices
  • Net gearing increased to 1.72 times with an adjusted gearing of 0.63 times net of readily marketable inventory and secured receivables.

Olam Cocoa hits 100% traceability target across its direct global supply chain
Olam Cocoa hits 100% traceability target across its direct global supply chain – www.brandspurng.com

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Olam Reports Robust 2020 Performance Amid The Pandemic, With 36.0% Growth In Operational PATMI to S$677.8M - Brand SpurOlam Reports Robust 2020 Performance Amid The Pandemic, With 36.0% Growth In Operational PATMI to S$677.8M - Brand Spur

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Olam Reports Robust 2020 Performance Amid The Pandemic, With 36.0% Growth In Operational PATMI to S$677.8M - Brand SpurOlam Reports Robust 2020 Performance Amid The Pandemic, With 36.0% Growth In Operational PATMI to S$677.8M - Brand Spur

Latest News

ECOVACS ROBOTICS Introduces 9-in-1 DEEBOT T9 In Indonesia – Our Best DEEBOT Just Got Better!

“The Best Just Got Better" with the first robotic vacuum cleaners in the market to combine upgraded vacuuming and mopping capabilities in one go

 

JAKARTA, INDONESIA - Media OutReach - 13 April 2021 - ECOVACS ROBOTICS, the world's leading home service robotics maker, today launched the DEEBOT T9, the first models with intelligent 9-in-1 obstacle avoidance robotic vacuum cleaner that combines powerful vacuuming and mopping functions with a built-in mobile air freshener. The upgraded DEEBOT T9 with these cutting-edge features is more powerful and smarter than ever before.


Olam Reports Robust 2020 Performance Amid The Pandemic, With 36.0% Growth In Operational PATMI to S$677.8M - Brand Spur


Olam Reports Robust 2020 Performance Amid The Pandemic, With 36.0% Growth In Operational PATMI to S$677.8M - Brand Spur


Olam Reports Robust 2020 Performance Amid The Pandemic, With 36.0% Growth In Operational PATMI to S$677.8M - Brand Spur


DEEBOT T9 raises the bar for home cleaning with 9 stunning features, including the ECOVACS' leading TrueDetect 3D 2.0, a real-time strategic obstacle detection and avoidance technology; TrueMapping 2.0 for precise navigation; ECOVACS HOME App upgraded with 3D Map, and OZMO™ Pro 2.0 Electric Oscillating Mopping System that ensures stubborn stains are removed more efficiently and quietly, compared to previous generation.


"We keep a close eye on market demand and there was a clear indication that consumers want smart products that make homecare even simpler, doing as much and as thorough as they can, in one go. ECOVACS is committed to giving consumers the latest in smart and unique cleaning experience," said David Qian, Chief Executive Officer of ECOVACS ROBOTICS. "We've introduced our new-generation technologies, combined with multiple features while adding even more to our DEEBOT T9 to make sure every inch and floor surface is covered. Our Best DEEBOT Just Got Better."


Upgraded ECOVACS HOME App with Improved Obstacle Avoidance and Navigation Technology


TrueDetect 3D 2.0 technology comes with an upgraded algorithm to quickly detect different types of obstacles and strategically avoid them. The DEEBOT T9 can detect object sizes right down to mere millimeters, which is ten times more accurate than products using traditional infra-red technology, with a detection range of 70-350 millimeters. Moreover, DEEBOT T9 can navigate smoothly in different indoor environments and lighting conditions without any interruptions, even in total darkness. TrueDetect 3D 2.0 technology allows the robotic vacuum cleaner to avoid collisions, entanglements, or disruptions, so users do not have to monitor the robot and clean it continuously.

Combining TrueDetect 3D 2.0 and TrueMapping 2.0 with 3D Maps brings a whole new level of automated cleaning efficiency and flexibility for users. They can quickly locate the robotic vacuum cleaner's exact position via the 2D and 3D Maps. They can also manage their entire cleaning task on-the-fly, by toggling between the 2D and 3D Maps with the upgraded ECOVACS HOME App.

The new ECOVACS HOME App is designed for intuitive use, enhancing the user experience and reinforces the ECOVACS branding. The App is easy to navigate, offering users an optimal cleaning route. The interface integrates all the common features so that users can access critical functions easily. They can customize the amount of water used, suction power, cleaning times, and routes for different rooms.


A Luxurious Cleaning Experience with Built-in Air Freshener


The DEEBOT T9 is the first in the industry to clean floors and freshen the air at the same time. Connected to the DEEBOT's mobile system, the air freshener gives users a vacuuming and fragrance experience that goes beyond traditional cleaning.

The air freshener's unique design releases the fragrance onto the floor directly to remove musty and pet odors, while the fan at the bottom of the air freshener unit spreads the fragrance evenly.

The air freshener uses replaceable capsules, that can last up to 60 days, featuring three kinds of fragrances. Users can choose to switch the air freshener on or off using the ECOVACS HOME App, and extend its lifespan.


Powerful In-depth Cleaning Performance with OZMO Pro 2.0 and Auto-Empty Station Compatibility


The DEEBOT T9 comes with latest OZMO™ Pro 2.0 Electric Oscillating Mopping System with a newly designed motor and movement structure that minimizes noise.

The enhanced suction power of 3000 Pa also raises the bar in cleaning performance. The high-strength fiberglass structure keeps the suction power consistent when vacuuming both hard floors and carpets. The high-frequency vibration of up to 480 times per minute increases the mopping performance, making it comparable to an electric mop.

The DEEBOT T9 uses a disposable mopping pad that can be safely discarded immediately after cleaning. The specially-designed microfibers absorb water evenly, efficiently capture dust, and reduce residual water stains. The composite structure increases friction between the mopping pad and the floor and helps the OZMO™ Pro 2.0 Electric Oscillating Mopping System effectively remove stubborn stains on the floor.

A power-up kit is available for the DEEBOT T9 that further enhances the cleaning performance and user experience. The Auto-Empty Station, which clears the robot's dustbin automatically after cleaning with minimal human intervention, is also compatible with DEEBOT T9.


Pricing and Availability


DEEBOT T9's suggested retail price is IDR 8.29 Million. It will be officially available at Shopee with special price of IDR 8.09 Million and comes with a IDR 200K discounted voucher and a free giftpack on April 17 to 18 ECOVACS X Shopee Brand Day.


It is also available at Lazada, Tokopedia, and Blibli from April 19 onwards with an IDR 200K discounted voucher and free giftpack as launch promotion until April 22.

For more information, please visit ecovacs.com or connect with us on Olam Reports Robust 2020 Performance Amid The Pandemic, With 36.0% Growth In Operational PATMI to S$677.8M - Brand SpurFacebook and Olam Reports Robust 2020 Performance Amid The Pandemic, With 36.0% Growth In Operational PATMI to S$677.8M - Brand SpurInstagram.


About ECOVACS ROBOTICS

Innovating Since Day One – Creating the Intelligent Home.


At ECOVACS ROBOTICS, we care about innovating solutions to enhance your lifestyle. Based on a deep understanding of use cases and consumer experiences, we design robots that help you "live smart, enjoy life."


With over 20 years of design and industry-leading research, we have led the market as homes become more intelligent and responsive. We are building a world where your home asks less of your attention, becomes more seamless and powerful, and frees you to spend more time doing what you love.


Olam Reports Robust 2020 Performance Amid The Pandemic, With 36.0% Growth In Operational PATMI to S$677.8M - Brand Spur
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- Advertisement -Olam Reports Robust 2020 Performance Amid The Pandemic, With 36.0% Growth In Operational PATMI to S$677.8M - Brand SpurOlam Reports Robust 2020 Performance Amid The Pandemic, With 36.0% Growth In Operational PATMI to S$677.8M - Brand Spur