- Wilmar International (SGX:F34) is scheduled to release its 1Q24 financial highlights on 29 April (see earnings calendar). We anticipate 1Q24 core net profit to fall between US$390m to US$420m (1Q23: US$382m, 4Q23: US$665m).
- - Read this at SGinvestors.io -
Flattish to marginal growth y-o-y in 1Q24; the good offset by the weak segments.
- The food products and plantation & sugar mill divisions are likely to perform better y-o-y, but these gains are likely to be offset by persistent weaknesses in palm downstream processing and narrower soybean crushing margins compared to 1Q23.
- - Read this at SGinvestors.io -
Food products:
- Expect a y-o-y improvement, driven by higher sales volumes in consumer packs and potentially enhanced margins due to lower feedstock costs. Stable margins are expected in medium & bulk sales, supported by increased sales volumes amidst an uptick in HoReCa spending.
Feed & industrial products:
- Expect weaker performance in 1Q24. Both palm downstream processing and soybean crushing segments are expected to underperform.
- Read more at SGinvestors.io.
