Wilmar International (F34) Q1 2025 TU earnings summary

Executive summary

• Revenue rose 3.3% year-over-year to US$16.2 billion in 1Q2025, with net profit up 13.5% to US$343.9 million.

• Core net profit increased 4.4% to US$343.0 million, driven by Food Products and Plantation and Sugar Milling segments, and higher contributions from associates and joint ventures.

• Operating cash flows before working capital changes surged 47.9% to US$948 million; free cash flow reached US$1.77 billion.

Financial highlights

• EBITDA grew 19.3% year-over-year to US$1.09 billion in 1Q2025.

• Cash flows from operating activities increased 16.4% to US$2.09 billion.

• Net debt declined 9.6% to US$16.85 billion as of 31 March 2025; net gearing ratio improved to 0.83x.

Outlook and guidance

• Results for the rest of the year are expected to remain satisfactory despite global volatility and new US tariffs.

• Diversified and integrated business model expected to support resilience amid challenging conditions.