Wilmar International 4Q23 Results Preview - UOB Kay Hian 2024-01-23: Uncertainty To Cap Performance

• We estimate Wilmar's 2H23 core net profit at US$320m-350m and FY23 full-year core net profit at US$1.20b-1.23b, which is 7-10% higher than our but 6-8% lower than consensus expectations.
• Expect short-term negative sentiment from Wilmar's recent announcement of its association with the ongoing alleged China palm oil fraud. Maintain HOLD rating on Wilmar with a lower target price of S$3.35 (previously S$3.80).

4Q23 results preview: Likely to beat our expectation.

• - Read this at SGinvestors.io -
• - Read this at SGinvestors.io -
• Its operations in China have shown some positive developments; however, these improvements have not been substantial enough to offset the challenges stemming from the palm refining business.

Mixed segmental performance

• Read more at SGinvestors.io.

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

Read also UOB's most recent report:
2025-04-30 Wilmar International - Recovery Seen At China Operations.

Previous report by UOB:
2025-02-24 Wilmar International - Anticipating A Better Year From China; Upgrade To BUY.

Price targets by 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