Wilmar International - UOB Kay Hian 2024-05-07: Recovery In China; Accumulate On Weakness

Wilmar International - Recovery In China; Accumulate On Weakness

Wilmar (SGX:F34) | SGinvestors.ioWilmar (SGX:F34)
  • We expect Wilmar's 2Q24 earnings to be higher q-o-q and y-o-y, which is different from previous years when 2Q is usually lower q-o-q. This is mainly attributed to enhanced operating margin and good sales volume across all segments.
  • - Read this at SGinvestors.io -
  • Maintain HOLD. Buy on weakness.

Anticipate a favourable trajectory for Wilmar's 2Q24 earnings

  • Based on insights from recent analyst briefings with Wilmar International (SGX:F34) and its subsidiary, Yihai Kerry Arawana (YKA), we anticipate a favourable trajectory for Wilmar's 2Q24 earnings.
  • Traditionally, 2Q tends to exhibit a decline q-o-q due to decreased sales volume following the festive season. However, we anticipate 2Q24 earnings to be higher q-o-q and y-o-y, attributed to enhanced operating margins and good sales volumes across all segments.

Food products segment

  • - Read this at SGinvestors.io -
  • Industrial and bulks: Expect better sales volume with the hotel, restaurant, and café (HORECA) sector continuing to do well, especially in India and China.

Feed & Industrial Products segment

  • 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/ 2024-05-07

Previous report by UOB:
2024-04-22 Wilmar 1Q24 Results Preview - Another Uneventful Quarter; To Trade Within Current Range.

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 Dividends & Corporate Actions,
Wilmar News Articles


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