- Wilmar (SGX:F34) reported weaker-than-expected 1Q26 core net profit of US$264.2m (-23% y-o-y), accounting for 18%/17% of our and consensus estimates. The weaker results contrasted 1Q26’s sharp revenue growth of 22% y-o-y, attributed primarily to temporary unrealised mark-to-market losses from the group’s hedging activities, alongside softer share of profits by its regional JVs/associates.
- - Read this at SGinvestors.io -
Improving balance sheet health.
- Wilmar’s stable operating profit continued to drive a reduction in its net debt position to US$18.56b – and has now fallen back to below end-24 levels – relative to 2H25 which saw massive cash compensation tied to its Indonesian operations’ recent consolidation of AWC.
Key operating segment highlights:
Food products.
- - Read this at SGinvestors.io -
Feed and industrial products.
- Segment performance remained encouraging in 1Q26, with a decent sales growth of 5.0-12.5% y-o-y across its tropical oils, oilseeds and sugar merchandising operations.
Plantations & sugar milling.
- 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/ 2026-04-30
Previous report by UOB:
2025-10-31 Wilmar 3Q25 Results Review - Operating Performance Sustains Positive Momentum.
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
