Wilmar International - UOB Kay Hian 2023-02-22: 2022 Another Record Year, Despite Market Volatility

Wilmar International - 2022 Another Record Year, Despite Market Volatility

Published:
WILMAR INTERNATIONAL LIMITED (SGX:F34) | SGinvestors.ioWILMAR INTERNATIONAL LIMITED (SGX:F34)
  • Wilmar reported 2022 core net profit of US$2,244m (+22% y-o-y), which is its second consecutive year of record-high profit. This is within our expectations, with its strong feed and industrial segments backed by strong sales volume, despite weak sales volume for its food product segment, especially in China due to the widespread outbreak of COVID-19.
  • - Read this at SGinvestors.io -

As expected, Wilmar recorded its record high profit for 2022.

  • Wilmar International (SGX:F34) reported 4Q22 core net profit of US$467.6m (-41% q-o-q , -12% y-o-y), bringing full-year core net profit to US$2,244m for 2022 (+22% y-o-y). This is well within our expectations.
  • See Wilmar's announcement dated 21 Feb 2023 –
  • - Read this at SGinvestors.io -
  • Strong JV contribution, mainly from its investments in China, Europe and India.
  • Disappointment from the food products segment. Sales volume for both consumer products and medium pack and bulk sub-segments came in weaker q-o-q and y-o-y in 4Q22. Sales in China came in lower than expected mainly due to the widespread outbreak of COVID-19 after China opened up.

Record high dividend; proposed final tax-exempt dividend of S$0.11/share.

  • Read more at SGinvestors.io.




Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.




Leow Huey Chuen UOB Kay Hian Research | Jacquelyn Yow Hui Li UOB Kay Hian | https://research.uobkayhian.com/ 2023-02-22



Read also UOB's most recent report:
2024-02-23 Wilmar International - Managing Expectations.

Previous report by UOB:
2024-02-22 Wilmar International - 2023 Results Above Expectation.

Price targets by 2 other brokers at Wilmar Target Prices.

Listing of research reports at Wilmar Analyst Reports.

Relevant links:
Wilmar Share Price History,
Wilmar Announcements,
Wilmar Dividends & Corporate Actions,
Wilmar News Articles





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