Wilmar back in the black with Q3 profit of US$281 million

[SINGAPORE] Wilmar International posted a net profit of US$281 million for its third quarter ended Sep 30, reversing from a net loss of US$347.7 million in the corresponding year-ago period.

The year-ago loss was largely due to a US$712.3 million compensation expense paid to the Indonesian government.

Excluding this one-off expense, the Q3 FY2026 net profit declined 22.9 per cent from US$364.6 million in Q3 FY2025, the agribusiness giant said in a bourse filing on Wednesday (Oct 28).

Core net profit for the quarter fell 25.2 per cent to US$267.3 million from US$357.2 million, even as revenue grew 13.6 per cent to US$21.7 billion from US$19.1 billion.

Wilmar said its food products segment was hit by higher raw material costs, and the feed and industrial products segment, by weaker soybean crushing margins.

Share of results of joint ventures and associates also fell, mainly due to weaker performance from its soybean crushing investments in China.

However, these were partially offset by a satisfactory performance in tropical oils despite lower sales volume, as well as higher production volume and steady palm oil prices in its palm plantation business.

Sales volume for food products grew 11.9 per cent to 10.4 million tonnes, supported by the consolidation of AWL Agri Business since December 2025. Sales volume for feed and industrial products remained comparable at 18.8 million tonnes.

Excluding AWL’s contribution, overall sales volume for both segments dropped 2.7 per cent to 27.3 million tonnes, and overall revenue rose 1.7 per cent to about US$19.4 billion.

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For the nine months ended Sep 30, Wilmar’s net profit rose 259.9 per cent to US$889.9 million from US$247.3 million the year before.

Core net profit slipped 3.4 per cent to US$908.8 million, while revenue expanded 15.9 per cent to US$60.2 billion.

Looking ahead, Wilmar expects the operating environment to remain challenging amid rising feedstock costs, surging commodity prices and global supply disruptions.

“However, the performance of our core businesses is expected to be resilient,” said the group. “Supported by our diversified operations and continued focus on cost management and operational efficiency, we are cautiously optimistic that performance for the rest of the year will be satisfactory.”

The National Environment Agency on Oct 23 issued notices to 10 Singapore-registered companies, including Wilmar International, seeking information on their operations and potential links to the haze blanketing Singapore .

Wilmar said in a separate announcement that it reviewed available information and assessed that the fires in Indonesia and transboundary haze have neither resulted in, nor is expected to result in any material operational, financial, legal or regulatory impact on the company.

Wilmar closed S$0.02 or 0.6 per cent higher at S$3.27, before the results.