WILMAR INTERNATIONAL Reports Q2 Earnings for FY2023, Ending August 11 2023
August 27, 2023
🌥️Earnings Overview
On August 11 2023, WILMAR INTERNATIONAL ($SGX:F34) announced its financial results for the second quarter of FY2023, ended June 30 2023. The company reported total revenue of USD 32.5 billion, marking a 9.9% decline compared to the same period in the prior year. Net income was reported at USD 0.55 billion, which resulted in a 52.6% year-over-year decrease.
Stock Price
On Friday, Wilmar International reported their second quarter earnings for the fiscal year ending August 11, 2023. The Singapore based multinational trading and agribusiness company opened at SG$3.8 and ultimately closed at the same price, a 0.8% dip from the previous day’s closing price. The company is optimistic about the rest of the fiscal year, with plans to invest in further research and development to expand their customer base and product offerings. They also plan to increase their presence in China, in order to capitalize on the growing demand for their products in the region. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Wilmar International. More…
| Total Revenues | Net Income | Net Margin |
| 69.8k | 1.79k | 2.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Wilmar International. More…
| Operations | Investing | Financing |
| 5.51k | -4.09k | -769.93 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Wilmar International. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 59.79k | 37.87k | 3.11 |
Key Ratios Snapshot
Some of the financial key ratios for Wilmar International are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 15.7% | 5.5% | 4.8% |
| FCF Margin | ROE | ROA |
| 4.5% | 10.5% | 3.5% |
Analysis
As GoodWhale has conducted an analysis of WILMAR INTERNATIONAL‘s fundamentals, we have classified them as a ‘rhino’ company indicating moderate revenue or earnings growth. This type of company may be of interest to investors who prefer more conservative investments. Although WILMAR INTERNATIONAL has an intermediate health score of 5/10 with regard to its cashflows and debt, this should be sufficient to sustain their future operations even in times of crisis. Additionally, WILMAR INTERNATIONAL is strong in dividend and medium in asset, growth, and profitability which may also be a draw for certain types of investors. More…
Peers
Wilmar International Ltd is one of the leading palm oil companies in the world. Its competitors are Indofood Agri Resources Ltd, Taisun Enterprise Co Ltd, and PT PP London Sumatra Indonesia Tbk.
– Indofood Agri Resources Ltd ($SGX:5JS)
Indofood Agri Resources Ltd is a leading agribusiness company in Indonesia. It is engaged in the cultivation of oil palm, rubber, and other crops; the manufacture of palm oil-based products, such as cooking oil, margarine, shortening, and biodiesel; and the trading of agricultural commodities. The company has a market cap of 411.79M as of 2022 and a Return on Equity of 16.08%.
– Taisun Enterprise Co Ltd ($TWSE:1218)
Taisun Enterprise Co Ltd is a publicly traded company with a market capitalization of $18.94 billion as of 2022. The company has a return on equity of 5.82%. Taisun is engaged in the business of manufacturing and selling steel products and related services. The company’s product portfolio includes hot-rolled coils, cold-rolled coils, galvanized coils, and pre-painted coils. Taisun also provides steel processing services, such as cut-to-length, slitting, and shearing.
– PT PP London Sumatra Indonesia Tbk ($IDX:LSIP)
London Sumatra Indonesia Tbk is one of the largest palm oil producers in the world with a market cap of 7.71T as of 2022. The company has a Return on Equity of 7.69%. The company produces palm oil and palm kernel oil.
Summary
Investors may be concerned with WILMAR INTERNATIONAL‘s second quarter FY2023 earnings report, as total revenue dropped 9.9% and net income decreased 52.6% year over year. Despite reported softness in the economy, WILMAR INTERNATIONAL’s competitors have been able to maintain and increase their market share. The company’s stock price has been sluggish in the past few months, and may continue to suffer if their earnings do not improve in the near future. Investors should monitor the company’s progress closely, and consider if the stock is still a worthwhile buy.
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