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MarketScreener Homepage  >  Equities  >  Singapore Stock Exchange  >  Wilmar International Limited    F34   SG1T56930848

WILMAR INTERNATIONAL LIMITED

(F34)
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Wilmar 3Q Earnings Beat Estimates, Revenue Drops -- Earnings Review

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11/12/2019 | 05:29am EST

By Saurabh Chaturvedi

Wilmar International Ltd. (F34.SG) reported its financial results for the third quarter after trading hours on Tuesday.

NET PROFIT: The palm planter and trader reported net profit of $447.1 million in the September quarter, compared with $405.9 million in the same period of last year. Wilmar was expected to report net profit of $306.7 million for the quarter, according to an estimate provided by FactSet.

REVENUE: Revenue fell 2.2% on-year to $11.16 billion due to lower commodity prices. FactSet had predicted third quarter revenue of $13.06 billion.

WHAT WE WATCHED:

--ONE-TIME GAIN: Wilmar said net profit was boosted partly by a gain from the disposal of the group's discontinued operations in Brazil. Excluding gains from discontinued operations and non-operating items, the core net profit for the quarter fell 3% on year to $419.2 million.

--JOINT VENTURES: Wilmar's share of earnings from joint ventures and associates fell to $24.8 million in the quarter, compared with $66.4 million in the same period a year ago, mainly due to weaker performance at the group's investments in Africa, India and Vietnam.

--CORE BUSINESSES: Its tropical oil business reported a 24% on year increase in pre-tax profit to $193.2 million in the quarter, while the Oilseeds and Grains segment registered a small 1% increase in pre-tax profit to $301.3 million. Pre-tax profit at the company's sugar business rose 9% on year to $80.1 million.

Write to Saurabh Chaturvedi at saurabh.chaturvedi@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
ARCHER-DANIELS-MIDLAND COMPANY -5.58% 40.43 Delayed Quote.-7.62%
DOW JONES AFRICA TITANS 50 INDEX 0.75% 509.88 Delayed Quote.-4.82%
EURO / BRAZILIAN REAL (EUR/BRL) -0.02% 4.7723 Delayed Quote.5.70%
LONDON BRENT OIL -1.17% 54.21 Delayed Quote.-13.77%
LONDON SUGAR -0.26% 420.1 End-of-day quote.16.79%
S&P AFRICA 40 INDEX -0.21% 159.08 Delayed Quote.-6.22%
WILMAR INTERNATIONAL LIMITED -1.46% 4.05 End-of-day quote.0.00%
WTI -1.42% 49.46 Delayed Quote.-12.86%
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Financials (USD)
Sales 2020 48 775 M
EBIT 2020 2 026 M
Net income 2020 1 278 M
Debt 2020 19 599 M
Yield 2020 2,96%
P/E ratio 2020 15,0x
P/E ratio 2021 13,8x
EV / Sales2020 0,79x
EV / Sales2021 0,75x
Capitalization 18 912 M
Chart WILMAR INTERNATIONAL LIMITED
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Technical analysis trends WILMAR INTERNATIONAL LIMIT
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 3,19  $
Last Close Price 2,98  $
Spread / Highest target 20,2%
Spread / Average Target 6,93%
Spread / Lowest Target -18,4%
EPS Revisions
Managers
NameTitle
Khoon Hong Kuok Chairman & Chief Executive Officer
Seck Guan Pua Chief Operating Officer & Executive Director
Kiam Kong Ho Chief Financial Officer
So Cheer Kwek Chief Information Officer
Thiam Hock Kwah Independent Non-Executive Director
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