Olam reports 69% y-o-y drop in FY2024 earnings

Olam Group has reported a 16.3% increase in revenue to $56.2 billion for its FY2024 ended Dec 31, 2024. However, earnings dropped by 69% in the same period to $86.4 million no thanks to higher financing costs. Ebit, meanwhile was up 9.2% y-o-y to $1.09 billion.

In the most recent 2HFY2024, Olam's earnings dropped by 83.4% y-o-y to $38.3 million even though revenue increased by 24% to $29.2 billion.