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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 oleochemical 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 fertiliser 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 2019 SGDUSD
Revenue58,170.08M42,640.51M
Gross Profit5,847.42M4,286.34M
Operating income2,204.28M1,615.81M
Income before tax2,108.34M1,545.48M
Net income1,729.79M1,267.99M
EBITDA3,400.85M2,492.93M
Diluted EPS0.250.18
Dividends Per Share0.120.09
Total Assets63,263.90M47,048.60M
Total liabilities39,163.93M29,125.74M
Total equity22,539.70M16,762.50M
Operating cash flow4,746.15M3,479.08M
Currency in SGDCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 53,327.89M 57,161.15M 60,152.85M 60,040.90M 58,170.08M
Gross Profit 4,860.77M 6,323.04M 5,199.15M 5,461.18M 5,847.42M
Operating income 1,597.19M 2,931.89M 1,712.67M 1,910.99M 2,204.28M
Income before tax 1,896.95M 1,794.77M 2,157.03M 1,756.64M 2,108.34M
Net income 1,406.78M 1,342.32M 1,650.59M 1,552.04M 1,729.79M
EBITDA 2,588.09M 3,917.05M 2,725.97M 2,984.57M 3,400.85M
Diluted EPS 0.22 0.21 0.26 0.23 0.25
Dividends Per Share 0.08 0.06 0.10 0.10 0.12
Total Assets 52,385.07M 53,500.74M 54,702.29M 62,306.72M 63,263.90M
Total liabilities 30,638.23M 31,248.55M 31,961.46M 39,397.67M 39,163.93M
Total equity 20,420.24M 20,853.57M 21,333.74M 21,870.39M 22,539.70M
Operating cash flow 3,103.33M 1,587.96M 540.16M 2,274.27M 4,746.15M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 38,776.63M 41,401.68M 43,573.92M 44,497.70M 42,640.51M
Gross Profit 3,534.44M 4,579.76M 3,766.19M 4,047.40M 4,286.34M
Operating income 1,161.37M 2,123.56M 1,240.63M 1,416.28M 1,615.81M
Income before tax 1,379.34M 1,299.95M 1,562.52M 1,301.88M 1,545.48M
Net income 1,022.92M 972.24M 1,195.66M 1,150.25M 1,267.99M
EBITDA 1,881.89M 2,837.11M 1,974.65M 2,211.93M 2,492.93M
Diluted EPS 0.16 0.15 0.18 0.17 0.18
Dividends Per Share 0.05 0.04 0.07 0.07 0.09
Total Assets 36,926.00M 37,032.42M 40,932.57M 45,712.93M 47,048.60M
Total liabilities 21,596.75M 21,629.79M 23,916.09M 28,905.12M 29,125.74M
Total equity 14,394.13M 14,434.53M 15,963.59M 16,045.77M 16,762.50M
Operating cash flow 2,256.54M 1,150.16M 391.28M 1,685.51M 3,479.08M

Valuation Measures

Dec 2019
PER16.04
ROA2.75%
ROE7.79%
Operating margin3.78%
Profit margin2.97%

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%)
  • The Vanguard Group, Inc. (0.9%)
  • Kefkong Ltd. (0.8%)

Contact Details

Related Companies

  • Wilmar Trading (Australia) 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 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.
  • Wilmar Kuantan Edible Oils Sdn. Bhd.
  • Wilmar Sugar Brasil Comercial Ltda.
  • Wilmar Europe Trading BV
  • PT Sentratama Niaga Indonesia

Competitors

  • Golden Agri-Resources Ltd
  • Bunge Limited
  • Sime Darby Plantation Bhd.
  • JinJian Cereals Industry Co Ltd Class A
  • SIPEF group
Last Updated on 14 Jul, 2020

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