Wilmar International - Recovery In China To Mitigate The Weakness From Palm Operations
WILMAR INTERNATIONAL LIMITED (SGX:F34)
- Key trends that were shared during Wilmar International (SGX:F34)'s analysts briefing are broadly in line with our expectations, i.e. 2023 core net profit would be lower as lower palm-related earnings will not be fully compensated by higher earnings from China. The surprises were higher-than-expected earnings contributions from shipping and fertilizer, although no specific data was shared.
- Read this at SGinvestors.io -
Guidance from Wilmar's briefing largely in line with our expectations.
- See the earlier results note: Wilmar International - UOB Kay Hian 2023-02-22: 2022 Another Record Year, Despite Market Volatility.
- Read this at SGinvestors.io -
- Palm-related operations did extremely well due to higher CPO selling prices and the large refining margins brought about by the surprise exports and domestic supply control by the Indonesian government.
- We expect Wilmar’s 2023 core net profit to decline 16% y-o-y.
Key highlights from Wilmar's briefings:
- Segments that are expected to do better y-o-y in 2023 are:
- 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/ 2023-02-23
Previous report by UOB:
2023-02-22 Wilmar International - 2022 Another Record Year, Despite Market Volatility.
Price targets by 3 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
