Wilmar International - UOB Kay Hian 2024-02-23: Managing Expectations

• During the briefing, Wilmar's management conveyed a more optimistic tone compared to the outlook statement. Despite a challenging outlook guidance, Wilmar is poised for margin improvement in 2024 as raw material costs ease and it grows volume by capturing market share from the closure of less competitive producers.
• - Read this at SGinvestors.io -

More positive tone during briefing.

• See Wilmar International - 2023 Results Above Expectation. We were fenced off after reading the cautious outlook statement from the results announcement. However, after the analyst briefing, we maintain our view that Wilmar International (SGX:F34) will still be able to deliver earnings growth in 2024 despite a more challenging operation environment.
• - Read this at SGinvestors.io -
• positive volume growth with a guidance of 5-10% growth y-o-y.

Maintain HOLD.

• 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 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