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Process Industries

Wilmar International Ltd.

Company Background

Wilmar International is a global agribusiness firm with a focus on palm oil, sugar and grains. One of the world's largest processors and merchandisers of palm oil, it manages plantations in Indonesia and Malaysia. The firm covers the entire chain of food distribution from production, processing and packaging to distribution. It manages 450 manufacturing plants in 15 countries and distribution networks in over 50 countries.

Wilmar was co-founded by the current chairman and CEO Kuok Khoon Hong in 1991. Born into one of the richest families in Southeast Asia which built on successes in agricultural trading during the British colonial era, he began his career in the agricultural business in 1973, establishing oil palm plantations in Asia and Africa. Wilmar's largest shareholder is family-owned shareholding company the Kuok Group, followed by Kuok Khoon Hong. Wilmar's recent large-scale transactions include the acquisition of Goodman Fielder, an Australian producer of dairy products, sauces and cooking oils, which went into agreement in May this year. Wilmar also agreed this year to acquire a strategic stake in Mumbai-based Shree Renuka Sugars and to form joint ventures in Myanmar.

Business Summary

Wilmar International Ltd. is an investment holding company, which engages in the processing, merchandising, and distribution of agricultural products. It operates through the following segments: Tropical Oils; Oilseeds and Grains; Sugar; and Others. The Tropical Oils segments processes, merchandise, brands and distributes palm oil and laurics related products including oleo chemical and biodiesel. The Oilseeds and Grains segment comprises the merchandising and processing of a wide range of agricultural products including non palm and lauric edible oils, oilseeds, flour and rice milling, corn processing and downstream products like wheat and rice noodles in consumer pack, medium pack and in bulk. The Sugar segment engages in milling, refining, merchandising, branding, and distribution of sugar and its related products. The others segment includes the manufacturing and distribution of fertilizer products and ship-chartering services. The company was founded by Kuok Khoon Hong and Martua Sitorus in 1991 and is headquartered in Singapore.

Financial Highlights

Dec 2020 SGDUSD
Revenue69,696.00M50,526.79M
Gross Profit8,566.85M6,210.62M
Operating income3,796.19M2,752.08M
Income before tax2,908.95M2,108.87M
Net income2,116.13M1,534.10M
EBITDA5,195.25M3,766.34M
Diluted EPS0.330.24
Dividends Per Share0.130.09
Total Assets67,430.55M51,019.97M
Total liabilities39,077.23M29,567.00M
Total equity24,955.86M18,882.35M
Operating cash flow1,001.65M726.15M
Currency in SGDCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 57,161.15M 60,152.85M 60,040.90M 58,170.08M 69,696.00M
Gross Profit 6,323.04M 5,199.15M 5,461.18M 5,847.42M 8,566.85M
Operating income 2,931.89M 1,712.67M 1,910.99M 2,204.28M 3,796.19M
Income before tax 1,794.77M 2,157.03M 1,756.64M 2,108.34M 2,908.95M
Net income 1,342.32M 1,650.59M 1,552.04M 1,729.79M 2,116.13M
EBITDA 3,917.05M 2,725.97M 2,984.57M 3,400.85M 5,195.25M
Diluted EPS 0.21 0.26 0.23 0.27 0.33
Dividends Per Share 0.06 0.10 0.10 0.12 0.13
Total Assets 53,500.74M 54,702.29M 62,306.72M 63,259.25M 67,430.55M
Total liabilities 31,248.55M 31,961.46M 39,397.67M 39,159.27M 39,077.23M
Total equity 20,853.57M 21,333.74M 21,870.39M 22,539.70M 24,955.86M
Operating cash flow 1,587.96M 540.16M 2,274.27M 4,746.15M 1,001.65M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 41,401.68M 43,573.92M 44,497.70M 42,640.51M 50,526.79M
Gross Profit 4,579.76M 3,766.19M 4,047.40M 4,286.34M 6,210.62M
Operating income 2,123.56M 1,240.63M 1,416.28M 1,615.81M 2,752.08M
Income before tax 1,299.95M 1,562.52M 1,301.88M 1,545.48M 2,108.87M
Net income 972.24M 1,195.66M 1,150.25M 1,267.99M 1,534.10M
EBITDA 2,837.11M 1,974.65M 2,211.93M 2,492.93M 3,766.34M
Diluted EPS 0.15 0.18 0.17 0.20 0.24
Dividends Per Share 0.04 0.07 0.07 0.09 0.09
Total Assets 37,032.42M 40,932.57M 45,712.93M 47,045.14M 51,019.97M
Total liabilities 21,629.79M 23,916.09M 28,905.12M 29,122.28M 29,567.00M
Total equity 14,434.53M 15,963.59M 16,045.77M 16,762.50M 18,882.35M
Operating cash flow 1,150.16M 391.28M 1,685.51M 3,479.08M 726.15M

Valuation Measures

Dec 2020
PER13.94
ROA3.23%
ROE8.91%
Operating margin5.44%
Profit margin3.03%

Key executives

  • Chairman & Chief Executive Officer: Khoon Hong Kuok
  • Chief Operating Officer & Executive Director: Seck Guan Pua
  • Chief Financial Officer: Cheau Leong Loo
  • Group Head-Technical: Matthew John Morgenroth
  • Chief Information Officer: Kah Chai Tan

Shareholders

  • Archer-Daniels-Midland Co. (24.5%)
  • PPB Group Bhd. (18.3%)
  • Kerry Group Ltd. (6.5%)
  • Longhlin Asia Ltd. (5.3%)
  • Kuok Group (4.1%)
  • Harpole Resources Ltd. (4.0%)
  • HPR Investments Ltd. (3.5%)
  • Hong Lee Holdings Pte Ltd. (2.8%)
  • Wilmar International Ltd. (1.4%)
  • Kefkong Ltd. (0.8%)

Contact Details

Related Companies

  • Eyop Industries Ltd.
  • Unity Wilmar Agro Pvt Ltd.
  • Wilmar Trading (Australia) Pty Ltd
  • Wilmar Australia Sugar Holdings Pty Ltd.
  • PT Koperasi Prima Jasa
  • PT Wilmar Bioenergi Indonesia
  • PT Bumi Sawit Kencana II
  • PT Agronusa Investama
  • PT Primatama Mulia Jaya
  • PT Murini Samsam
  • PT Permata Hijau Pasaman I
  • PT Perkebunan Milano
  • Olenex Holdings BV
  • PT. Wilmar Consultancy Services
  • PT Wilmar Chemical Indonesia
  • PT Buluh Cawang Plantation
  • Delta Wilmar Cis LLC
  • Wilmar Tea Pte Ltd.
  • Wilmar-Delta Holdings Pte Ltd.
  • Raffles Ship Chartering Pte Ltd.
  • Larnia Pte Ltd.
  • Dara Shipping Co. Pte Ltd.
  • Wilmar International Ltd. /Lavera Ethoxylation Plant/
  • Wilmar China Oleo Co. Ltd.
  • Wilmar Ventures Pte Ltd.
  • Wilmar Sugar (Myanmar) Pte Ltd.
  • Savannah Commodities Pty Ltd. (South Africa)
  • Wilmar (IM) Investments Pte Ltd.
  • Wilmer Holdings Pte Ltd.
  • Wca Pte Ltd.

Competitors

  • Golden Agri-Resources Ltd
  • Bunge Limited
  • Sime Darby Plantation Bhd.
  • Agro Tech Foods Limited
  • JinJian Cereals Industry Co Ltd Class A
Last Updated on 13 Apr, 2021

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