Wilmar International - OCBC Investment 2024-08-16: Cautiously Optimistic On 2H24

• Food, and Feed and Industrial product segments drove the improvement in 1H24.
• Sugar milling, plantation production, demand in China and joint ventures & associates contributions were the weak spots in 1H24.

Weaker joint ventures & associates contributions weighed on 1H24 results

• - Read this at SGinvestors.io -
• Feed and Industrial Products, and Food Products segments reported strong pre-tax profit growth of 77% and 34% y-o-y respectively in 1H24, driven by higher sales volume, improvement in crushing margins and a decline in commodity prices which led to lower raw material costs.
• - Read this at SGinvestors.io -

Interim dividend

• See Wilmar's dividends. An interim dividend of 6 Singapore cents per share was declared, same as last year.

Plantation & sugar milling business could improve in 2H24

• Read more at SGinvestors.io.

Above is an excerpt from a report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full PDF report @ https://www.iocbc.com/.

Read also OCBC's most recent report:
2025-11-03 Wilmar International - Looking For A Better FY26.

Previous report by OCBC:
2025-08-14 Wilmar International - Mixed 2H25 Outlook, But China Offers Support.

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 Dividend Payout Dates & Corporate Actions,
Wilmar News