- 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.
