Wilmar International (F34) H2 2025 earnings summary

Executive summary

• FY2025 revenue rose 4.5% year-over-year to $70.4 billion, with net profit up 21% to $1.41 billion, including net one-off non-core adjustments of $104 million.

• Core net profit increased 10% to $1.28 billion for FY2025, driven by strong Feed & Industrial Products and higher joint venture and associate contributions.

• Challenging global conditions, including geopolitical tensions and regulatory changes, impacted operations, but results remained resilient.

• One-off non-core adjustments mainly stemmed from remeasurement gains, provisions, and legal cases.

Financial highlights

• EBITDA increased 9.9% year-over-year to $4.27 billion; profit before tax up 20% to $2.09 billion.

• Earnings per share climbed 21% to 22.6 US cents; dividends per share fell 13% to 14.0 Singapore cents.

• Total dividend for FY2025 is S$0.14 per share, down from S$0.16 in FY2024 due to one-off non-core cash adjustments.

Outlook and guidance

• Operating conditions in 2026 expected to remain challenging due to geopolitical tensions, trade tariffs, and regulatory changes; results for FY2026 anticipated to be satisfactory barring unforeseen events.