Wilmar International Limited reported net profit of US$608.9 million for the six months ended Jun 30, up 2.3 percent year-on-year, as firmer margins in its Feed & Industrial Products and Food Products divisions offset weaker plantation and sugar milling results.
Group revenue rose 17.2 percent to US$38.56 billion, lifting fully diluted earnings per share to 9.7 US cents from 9.5 US cents a year earlier. The board declared an interim tax-exempt dividend of S$0.05 per share, compared with S$0.04 previously, payable on Sept 2 2026.
Pre-tax profit climbed 12.8 percent to US$1.06 billion. By segment, Feed & Industrial Products delivered a 55 percent jump in pre-tax earnings to US$591.0 million, supported by stronger tropical-oil refining margins, higher soybean-crushing volumes and resilient sugar merchandising. Food Products’ pre-tax profit surged 56 percent to US$304.6 million, aided by the consolidation of AWL Agri Business from December 2025, a disposal gain on Chinese joint ventures and 19 percent growth in sales volume to 19.4 million tonnes.
In contrast, Plantation & Sugar Milling saw pre-tax profit contract 32 percent to US$137.7 million after weaker sugar prices, a US$24.7 million impairment on Indian milling assets and a 6 percent drop in fresh fruit bunch output. The Others segment widened its pre-tax loss to US$60.0 million on higher mark-to-market losses from investment securities. Contributions from associates and joint ventures fell to US$113.5 million, reflecting the deconsolidation of AWL and softer results in Europe and Southeast Asia.
Wilmar boosted capital expenditure to US$678.8 million, up from US$533.8 million a year ago, while operating cash flow reached US$521.9 million. Net loans and borrowings increased by US$707.6 million to US$20.67 billion, nudging net gearing to 0.93 times; the adjusted ratio excluding working capital was broadly stable at 0.33 times.
Management noted that the half-year performance underscored the resilience of Wilmar’s integrated agribusiness model despite volatility linked to the Iran conflict. The group will continue focusing on operational efficiency, prudent capital deployment and cash-flow generation to navigate ongoing geopolitical uncertainties, and it expects full-year results to be “satisfactory” barring unforeseen events.