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Author: UY   |   Latest post: Tue, 4 Dec 2018, 4:52 PM


PPB Group Bhd - Wilmar Int Better than Expectation in Profit

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Wilmar registered a 4.3% YoY fall in revenue to US$11.6b and a 10.7% rise in net profit to US$407.4m in 3Q18, bringing 9M18 net profit to US$927.1m or 82% of our full year estimate. Results were better than expected.

Core net profit increased by 35.1% to US$434.7m, driven by better results in the Tropical Oils and Oilseeds & Grains segments. Tropical Oils benefitted from improved margins in the downstream businesses while strong soybean crushing margins and good performance from the Consumer Products business lifted the performance of Oilseeds & Grains.

Looking ahead, management expects most of its operations to continue to do well in the coming quarter, due to generally better processing margins. Pending an analyst briefing, we maintain our BUY rating but put our fair value estimate of S$3.51 under review.

Source: OCBC Research - 13 Nov 2018


Below share partial News Release for Wilmar Int 3Q18 


By Review table above WILMAR record it soild CASH FLOW of total USD$773 mils and Net Profit of 407 mils.

BRAVO to Wilmar & PPB.



1. Growth In Revenue & Profit from Tropical Oils and Oilseeds & Grains segments

2. Solid Cash Flow 



Business Segment

Performance Tropical Oils (Plantation, Manufacturing & Merchandising) reported a 93% increase in pretax profit to US$155.5 million in 3Q2018 (3Q2017: US$80.6 million), boosted by stronger performance from the manufacturing and merchandising business. The higher palm oil production volume led to improvements in downstream margins. Volumes for Tropical Oils (Manufacturing & Merchandising) increased by 9% to 6.3 million metric tonnes (“MT”) in 3Q2018 (3Q2017: 5.7 million MT), largely aided by higher biodiesel volume and increased demand for downstream products. Production yield for plantations improved 10% to 5.7 MT per hectare in 3Q2018 (3Q2017: 5.2 MT per hectare) due to favourable weather conditions and better yield trend. Production of fresh fruit bunches increased 8% to 1,117,679 MT (3Q2017: 1,032,124 MT).



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