- We revised down our FY23 earnings forecast for Wilmar International (SGX:F34) by 15% to US$1.7bn (-29.6% y-o-y) to account for weaker than expected earnings in 1H23 mainly on low palm oil refining profit and slower than expected recovery in China’s economy.
- - Read this at SGinvestors.io -
- - Read this at SGinvestors.io -
Earnings set to recover in 2H23 and 2024
- Our 2023 earnings forecast for Wilmar implies better earnings performance in 2H23. We estimate Wilmar will post around US$500m earnings per quarter, benefitting from a combination of
- recovering palm oil refining margin, and
- stronger China operation mainly on improving soy crushing margin on stronger soymeal demand, as well as
- improving profitability at its food products division.
Earnings set to improve in 2024 on better overall margins and sales volume trend.
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
William Simadiputra DBS Group Research | https://www.dbs.com/insightsdirect/ 2023-07-10
Read also DBS's most recent report:
2024-11-01 Wilmar International - Pursuing Earnings Recovery In 2025.
Previous report by DBS:
2023-10-30 Wilmar International - Banking On Food Product Recovery Trend.
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 Dividend Payout Dates & Corporate Actions,
Wilmar News
