Wilmar 05 (Feb 22 - Dec 27)

[behappyalways]

Wilmar Adani to IPO at issue price of $4.14 per share; 156.7 million equity shares to be issued and allotted

https://www.theedgesingapore.com/news/i ... d-allotted

[behappyalways]

Shares in India-listed Adani Wilmar surge in stock trading debut
https://www.theedgesingapore.com/news/i ... ding-debut

[behappyalways]

Not vested

Soaring Cooking Oil Prices Could Push Global Food Prices To Record
https://www.zerohedge.com/commodities/s ... ion-record

[winston]

vested

MSM, Wilmar Sugar collaborate to set up sustainable sugar supply chain

“No Deforestation, No People Exploitation (NDPE) Sugar Policy” in September 2021.

Wilmar Sugar operates an integrated sugar business across the entire value chain from sugar cane plantations to processing, merchandising and distribution of sweetener products.

It operates sugar mills, cogeneration plants, ethanol distilleries and sugar refineries across the globe, linking key origins and destinations through a market-leading team.

Source: Bernama

https://www.theedgemarkets.com/article/ ... pply-chain

[winston]

vested

Wilmar posts record H2 net profit of US$1.1b, to pay record full-year dividend

by UMA DEVI

Thinner margins and weaker sales volume from soybean crushing activities as hog farming margins continued to remain weak, resulting in lower demand for soybean meals.

Wilmar's food products segment was hit by higher raw material costs, which outpaced selling price adjustments. This segment recorded a profit of US$252.6 million in H2, down from US$657.4 million in H2 FY2020.

Source: Business Times

https://www.businesstimes.com.sg/compan ... r-dividend

[winston]

A record-breaking net profit for FY21

Wilmar’s final FY21 core net profit beat expectations, thanks to higher CPO prices and refining margins. However, final dividend was broadly in line.

We project FY22F core net profit to fall 3% due to weaker crush margins.

Reiterate Add, but with a lower TP of S$5.69. We like Willmar due to its attractive valuations and plans to unlock its value for shareholders.

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... 43517AC0CB

[behappyalways]

Wilmar International reports record 2HYF2021 earnings of US$1.14 bil
https://www.theedgesingapore.com/capita ... -us114-bil

[winston]

vested

Wilmar International (WIL SP): <Result Analysis> Core earnings reached US$1.8bn (+24% y-o-y) in 2021 , beating our expectations [BUY, TP S$6.67]

2021’s core earnings reached US$1.8bn (+24% y-o-y), beating our estimates

Vegetable oil refining division was the strongest performer last year

Maintain BUY rating with TP of S$6.67

Source: DBS

[winston]

vested

Wilmar International - 2021: Another record earnings year; results beat expectation.
(WIL SP/BUY/S$4.62/Target: S$6.00)

Wilmar’s 2021 core net profit come in way above our and consensus expectations, thanks to extremely strong earnings from its palm-related businesses.

Having said that, food products and soybean crushing operations, were affected by the high raw material cost and lower crushing margins and volume.

We reckon that both of this segments would still be impacted in 2022, but this would be fully offset by another year of strong performance from its palm operations.

Maintain BUY. Target price: S$6.00.

Source: UOBKH

https://research.uobkayhian.com/content ... 932d79cb9a

[winston]

vested

Mixed signals on its FY22F prospects

We sense that 1Q22F earnings are likely to be lower qoq and yoy due to lower crush and food product profit margins as well as seasonal factors.

The stock remains undervalued on all key valuation metrics. Reiterate Add.

Target 5.69

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... F524BDDA1A