- Wilmar International (SGX:F34)’s 1H24 results are scheduled for release on 13 Aug 24 (see earnings calendar). We expect 2Q24 core net profit of US$260m-265m (vs 2Q23: US$255m and 1Q24: US$328m), bringing 1H24 profit to US$588m-593m (vs 1H23: US$575m).
- - Read this at SGinvestors.io -
Margin weakness to offset volume growth.
- Wilmar's plantation and sugar mill division is likely to perform better y-o-y while volumes across some divisions are expected to pick up. However, palm downstream processing and soybean crushing margins are expected to remain subdued.
- - Read this at SGinvestors.io -
Food products:
- Expect a flattish quarter from the sales recovery in China being offset by lower sales volumes and margins in consumer products due to Indonesia’s DMO, which is supplied at a loss.
- For medium and bulk sales, sales volumes are expected to increase from HoReCa spending growth while margins remain stable.
Feed and industrial products:
- 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/.
Heidi Mo UOB Kay Hian Research | Llelleythan Tan Yi Rong UOB Kay Hian | https://research.uobkayhian.com/ 2024-08-06
Read also UOB's most recent report:
2024-11-06 Wilmar International - Recovery Is On, But Uncertainty Ahead.
Previous report by UOB:
2024-11-01 Wilmar International - 3Q24 Results Below Expectations.
Price targets by 3 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
