- Wilmar (SGX:F34)’s core net profit rose 71.6% y-o-y to US$357.2m in 3Q25, supported by stronger operational performance across key segments and better contributions from its joint ventures and associates.
Core operation improving but Indonesia cooking oil penalties led to 3Q25 net loss of US$347.7m.
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- Robust soybean harvests in South America and increased livestock industry demand also helped the Feed & Industrial Products segment deliver stronger crushing margins and higher sales volumes in 3Q25. The tropical oils business also saw healthy sales volume, and palm oil prices continued to remain supportive.
- Despite improvement in core operations, Wilmar reported a net loss of US$347.7m in 3Q25, due to penalties related to its Indonesia cooking oil business amounting to approximately US$712m.
Regulatory uncertainties in the near term but remain positive over the long term.
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Maintain BUY.
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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/.
OCBC Research Team OCBC Investment Research | https://www.iocbc.com/ 2025-11-03
Read also OCBC's most recent report:
2026-05-05 Wilmar International - Mixed Outlook.
Previous report by OCBC:
2026-03-02 Wilmar International - Regulatory Overhang Largely Provisioned For.
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
