Q1 2019 Golden Agri-Resources Ltd Earnings Call Transcript
Thank you for joining the First Quarter Results Presentation of Golden Agri.
We were able to show, again, the resilience of our business model in what was generally a challenging first quarter, because despite the decline in CPO price, we were able to maintain our EBITDA at about USD 120 million.
The upstream performance was impacted by the weak CPO price in combination with the lower production output, due to the yearly seasonality, where our performance was in line with the industry. However, on the downstream, we saw a increased contribution with higher margin and so that reflects the strengthening of our integrated business model and relationship with our end users in the destination markets.
Going forward, we will continue to focus on technological innovation and enhancement of the integrated operations to optimize value to our shareholders.
And in terms of outlook, we do believe the CPO price will be supported by the Indonesian Bio-diesel policy, which will continue to be a catalyst for the industry as we
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