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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 2021 SGDUSD
Revenue88,417.50M65,793.62M
Gross Profit10,757.84M8,005.17M
Operating income4,741.62M3,528.35M
Income before tax3,421.96M2,546.36M
Net income2,540.42M1,890.39M
EBITDA6,233.28M4,638.33M
Diluted EPS0.400.29
Dividends Per Share0.150.11
Total Assets79,161.27M58,718.44M
Total liabilities48,551.95M36,013.76M
Total equity26,860.37M19,923.87M
Operating cash flow68.72M51.14M
Currency in SGDCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 60,152.85M 60,040.90M 58,170.08M 69,696.00M 88,417.50M
Gross Profit 5,199.15M 5,461.18M 5,847.42M 8,566.85M 10,757.84M
Operating income 1,712.67M 1,910.99M 2,204.28M 3,796.19M 4,741.62M
Income before tax 2,157.03M 1,756.64M 2,108.34M 2,908.95M 3,421.96M
Net income 1,650.59M 1,552.04M 1,729.79M 2,116.13M 2,540.42M
EBITDA 2,725.97M 2,984.57M 3,400.85M 5,195.25M 6,233.28M
Diluted EPS 0.26 0.23 0.27 0.33 0.40
Dividends Per Share 0.10 0.10 0.12 0.13 0.15
Total Assets 54,702.29M 62,306.72M 63,259.25M 67,430.55M 79,161.27M
Total liabilities 31,961.46M 39,397.67M 39,159.27M 39,077.23M 48,551.95M
Total equity 21,333.74M 21,870.39M 22,539.70M 24,955.86M 26,860.37M
Operating cash flow 540.16M 2,274.27M 4,746.15M 1,001.65M 68.72M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 43,573.92M 44,497.70M 42,640.51M 50,526.79M 65,793.62M
Gross Profit 3,766.19M 4,047.40M 4,286.34M 6,210.62M 8,005.17M
Operating income 1,240.63M 1,416.28M 1,615.81M 2,752.08M 3,528.35M
Income before tax 1,562.52M 1,301.88M 1,545.48M 2,108.87M 2,546.36M
Net income 1,195.66M 1,150.25M 1,267.99M 1,534.10M 1,890.39M
EBITDA 1,974.65M 2,211.93M 2,492.93M 3,766.34M 4,638.33M
Diluted EPS 0.18 0.17 0.20 0.24 0.29
Dividends Per Share 0.07 0.07 0.09 0.09 0.11
Total Assets 40,932.57M 45,712.93M 47,045.14M 51,019.97M 58,718.44M
Total liabilities 23,916.09M 28,905.12M 29,122.28M 29,567.00M 36,013.76M
Total equity 15,963.59M 16,045.77M 16,762.50M 18,882.35M 19,923.87M
Operating cash flow 391.28M 1,685.51M 3,479.08M 726.15M 51.14M

Valuation Measures

Dec 2021
PER10.28
ROA3.46%
ROE9.80%
Operating margin5.36%
Profit margin2.87%

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. (21.9%)
  • PPB Group Bhd. (18.3%)
  • Longhlin Asia Ltd. (7.2%)
  • Kerry Group Ltd. (5.4%)
  • Kuok Group (4.1%)
  • Harpole Resources Ltd. (4.0%)
  • HPR Investments Ltd. (3.5%)
  • Hong Lee Holdings Pte Ltd. (2.8%)
  • Wilmar International Ltd. (2.0%)
  • T. Rowe Price Associates, Inc. (Investment Management) (0.8%)

Contact Details

Related Companies

  • Jebawang Sdn Bhd.
  • PGEO Bioproducts Sdn. Bhd.
  • Wilmar Riceland Trading Pte Ltd.
  • Wilmar Rice Trading Pte Ltd.
  • Wilmar (China) Oleochemicals Co., Ltd.
  • Wilmar Oleochemicals (Tianjin) Co., Ltd.
  • Wilmar Oleochemicals (Shanghai) Co., Ltd.
  • Wilmar Oleochemicals (Dongguan) Co., Ltd.
  • Haughton Sugar Co. Pty Ltd.
  • Wilmar GF Holdings Australia Pty Ltd.
  • 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
  • Global Eco Chemicals Singapore Pte Ltd.
  • 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.

Competitors

  • KIDO Group Corporation
  • Bunge Limited
  • Agro Tech Foods Limited
Last Updated on 28 Jun, 2022

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