- Wilmar (SGX:F34) reported 9M25 core net profit of US$941m (+15.5% y-o-y) which missed our expectation but was in line with consensus’, accounting for 62% and 72% of respective forecasts.
- - Read this at SGinvestors.io -
- 3Q25’s stronger underlying earnings were attributed to better operating performances across all Wilmar's key segments, in addition to higher JV and associate contributions.
Improved balance sheet.
- Notwithstanding the one-off penalty payment, Wilmar’s balance sheet position continued to improve, as net debt fell to US$16.5b in end-3Q25 vs US$18.6b in end-24 (end-2Q25: US$17.9b) whereas net gearing dropped to 0.82x in end-3Q25 vs 0.94x in end-24 (end- 2Q25: 0.87x) – aided by reduced working capital requirements on softening soybean and sugar prices.
- - Read this at SGinvestors.io -
Key operating segment highlights:
Food products.
- Read more at SGinvestors.io.
Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.
Lester Siew UOB Kay Hian Research | https://research.uobkayhian.com/ 2025-10-31
Read also UOB's most recent report:
2026-04-30 Wilmar International 1Q26 - Strong Volume Growth Marred By Hedging Losses.
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 Dividend Payout Dates & Corporate Actions,
Wilmar News
