Wilmar International has reported 2HFY2025 earnings of US$815.9 million, an increase of 38.3% over the year-earlier period. This brings its full-year earnings to US$1.4 billion, an increase of 20.6%.
Revenue for the whole of FY2025 reached US$70.4 billion, up 4.5%.
Throughout the year, the company had to book several major one-off items, which resulted in a net gain of US$103.8 million.
For one, it recorded non-operating gains mainly from the recognition of a US$1.14 billion gain on remeasurement arising from changes in interest in its associate, AWL Agri Business.
On the other hand, the company had to book compensation payments and provisions made on its Indonesia operations, and to also provide for two ongoing legal cases in China involving its 89.99%-held China-listed subsidiary, Yihai Kerry Arawana Holdings Co.
In addition, Wilmar has disclosed "certain unresolved issues" at its "recently discovered" in the accounts of its associate in Pakistan. This has led to "liquidity issues and raised doubts on its ability to continue as a going concern".
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As such, Wilmar had to make provision for losses incurred at this front too.
Wilmar plans to pay a final dividend of 10 cents per share, which will bring its total FY2025 payout to 14 cents. In contrast, it paid a total of 16 cents for FY2024.
Kuok Khoon Hong, Wilmar's chairman and CEO, calls 2025 "a challenging year".
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"The company operated in a complex global environment and faced issues in several markets," he says, without directly referring to the legal woes encountered.
He notes that geopolitical tensions, trade tariffs and evolving regulatory landscapes have required Wilmar to adapt its supply chain and business model.
Nonetheless, the company has managed to report a "reasonable" set of results for FY2025.
Kuok expects operating conditions for 2026 to continue to remain challenging.
"Barring unforeseen circumstances, we expect results for FY2026 to be satisfactory.”
Wilmar International shares closed at $3.50, down 2.78% for the day and up 10.76% in the past year.
