Wilmar 1H2026 Core Net Profit Increases 10% to US$641.5 Million

12 August 2026

Highlights

Singapore, August 12, 2026 – Wilmar International Limited (“Wilmar” or “the Group”), Asia’s leading agribusiness group, reported a 13% increase in pre-tax profit to US$1.06 billion for the six months ended June 30, 2026 (“1H2026”) (1H2025: US$937.7 million). Core net profit improved by 10% to US$641.5 million in 1H2026 (1H2025: US$583.7 million).

The improvement was driven by stronger performances in the Feed & Industrial Products and Food Products segments. The results of the Food Products segment were boosted by the consolidation of AWL Agri Business Limited’s (“AWL”) results since December 2025, the recognition of a gain on disposal of joint ventures in China in 1Q2026, as well as improved sales volume in 1H2026. However, these improvements were partially offset by weaker performance from the Plantation & Sugar Milling segment and lower contributions from associates and joint ventures.

Together with the non-operating loss recognised during the period, net profit for the period improved by 2% to US$608.9 million (1H2025: US$594.9 million).

Overall revenue for the period increased by 17% to US$38.56 billion (1H2025: US$32.89 billion), mainly due to the consolidation of AWL’s results since December 2025.  This was further supported by higher selling prices on most products during the period.    

Business Segment Performance

Food Products (Consumer Products, Medium Pack and Bulk) registered a 56% increase in pre-tax profit to US$304.6 million in 1H2026 (1H2025: US$195.7 million), partly due to the consolidation of AWL’s results since December 2025 and the recognition of a gain on disposal of joint ventures in China. The Group’s existing businesses also continued to contribute favourably during the period, with volume growth achieved across most of its main businesses.

Overall volume for the Food Products segment grew by 19% to 19.4 million MT (1H2025: 16.3 million MT) mainly due to the consolidation of AWL’s results and volume growth in the Group’s existing oil and flour businesses. 

Excluding the impact of AWL’s consolidation in 1H2026, overall volume and revenue would have increased by 2% to 16.6 million MT and by 8% to US$15.54 billion respectively. 

Feed & Industrial Products (Tropical Oils, Oilseeds & Grains and Sugar) achieved a 55% improvement in pre-tax profit to US$591.0 million in 1H2026 (1H2025: US$381.6 million) on the back of stronger performances across most of its businesses. Tropical oils business recorded better volumes and refining margins during the period. In addition, rising feed demand in China supported higher soybean crushing activities during the period, leading to a 6% increase in sales volume for the oilseeds and grains business to 14.9 million MT (1H2025: 14.0 million MT). Sugar merchandising business also contributed favourably in 1H2026 despite a decline in volumes. 

Plantation & Sugar Milling reported a 32% decline in pre-tax profit to US$137.7 million in 1H2026 (1H2025: US$202.0 million), primarily due to weaker contributions from the sugar milling business, which was impacted by weaker sugar prices as well as a US$24.7 million impairment loss recognised on its sugar milling assets in India during the period.  The palm plantation business was also impacted by lower volume of fresh fruit bunch production during the period, which declined by 6% to 1,916,697 MT in 1H2026 (1H2025: 2,042,802 MT) due to lower crop production in Indonesia.

The Others segment reported a higher loss before tax of US$60.0 million in 1H2026 (1H2025: US$16.8 million loss), mainly arising from higher mark-to-market loss recognised on the Group’s investment securities during the period.

Share of results of Joint Ventures & Associates was lower at US$113.5 million in 1H2026 (1H2025: US$196.5 million) partly due to the absence of the share of results of AWL since December 2025, when AWL became a subsidiary of the Group. This was further impacted by weaker contributions from the Group’s investments in Europe and Southeast Asia.   

Dividend

The Board has approved an interim tax exempt (one-tier) dividend for 1H2026 of S$0.05 per share (1H2025: S$0.04). The interim dividend will be paid on September 2, 2026.

Strong Balance Sheet and Cash Flows

In line with the higher commodity prices for soybean and palm, net loans and borrowings increased by US$707.6 million to US$20.67 billion as of 30 June 2026. This led to an increase in net gearing ratio to 0.93x in 1H2026 (FY2025: 0.91x) while adjusted net gearing ratio (net of working capital requirements) remained comparable at 0.33x (FY2025: 0.34x). 

During the period, the Group generated US$521.9 million from operating activities.  Capital expenditure for the period (including advances paid) was higher at US$678.8 million (1H2025: US$533.8 million) while US$95.4 million (1H2025: US$20.0 million) was used for the acquisition of subsidiaries, joint ventures and associates. Together with dividend distribution of US$534.2 million and the increase in net debt, the Group had a cash outflow of US$16.9 million for the period. 

As at 30 June 2026, total assets stood at US$66.93 billion and shareholders’ funds at US$22.20 billion. 

Prospects

Mr. Kuok Khoon Hong, Chairman and CEO of Wilmar said, “Despite geopolitical uncertainties arising from the ongoing Iran conflict which resulted in heightened volatility across commodity markets during the current period, the Group delivered an improved set of results compared to 1H2025, reflecting the underlying strength of our operations and disciplined execution of our business strategies.     

We expect operating conditions to remain uncertain due to continuing geopolitical developments.  Nevertheless, our integrated business model, diversified operations and broad geographical presence are expected to provide resilience amid these challenging conditions. We will continue to focus on operational efficiency, prudent capital management and cash flow generation, while pursuing sustainable growth and long-term value creation for shareholders. Barring unforeseen circumstances, the Group expects results for the year to be satisfactory.”

About Wilmar

Wilmar International Limited, founded in 1991 and headquartered in Singapore, is today Asia’s leading agribusiness group. Wilmar is ranked amongst the largest listed companies by market capitalisation on the Singapore Exchange.

At the core of Wilmar’s strategy is an integrated agribusiness model that encompasses the entire value chain of the agricultural commodity business, from origination, to processing, branding, merchandising and distribution of a wide range of edible food and industrial products. The Group's business activities include oil palm cultivation, oilseed crushing, edible oils refining, flour and rice milling, sugar milling and refining, manufacturing of consumer products, ready-to-eat meals, central kitchen products, specialty fats, oleochemicals, biodiesel and fertilisers as well as food park operations. It has over 1,000 manufacturing plants and an extensive distribution network covering China, India, Indonesia and some 50 other countries and regions. Through scale, integration and the logistical advantages of its business model, Wilmar is able to extract margins at every step of the value chain, thereby reaping operational synergies and cost efficiencies.

Supported by a multinational workforce of about 100,000 people, Wilmar embraces sustainability in its global operations, supply chain and communities.

Media Contacts

Ms. LIM Li Chuen / Ms. Audrey TAN
ir@wilmar.com.sg