Wilmar International Limited · SGX:F34
Wilmar International — Shareholder Meeting (April 2024)
26 slides from Wilmar International's shareholder meeting presentation, Apr 19, 2024
Slide 1: Wilmar International Limited Annual General Meeting
WILMAR INTERNATIONAL LIMITED ANNUAL GENERAL MEETING 19 April 2024
Slide 2: Important Notice
IMPORTANT NOTICE Information in this presentation may contain projections and forward looking statements that reflect the Company’s current views with respect to future events and financial performance. These views are based on current assumptions which are subject to various risks and which may cha
Slide 3: Agenda
Agenda 1 2023 Financials 2 Business Developments 3 Food Parks and Central Kitchens in China 4 ESG Initiatives 2
Slide 4: 1. 2023 Financials
1. 2023 Financials By Charles Loo Cheau Leong Deputy Chief Operating Officer and Chief Financial Officer 3
Slide 5: 2023 Results at a Glance
2023 Results at a Glance vs 2022 Total Revenue US$ 67.16 billion -9% EBITDA US$ 3.96 billion -16% Net Profit US$ 1.52 billion -37% Core Net Profit US$ 1.57 billion -35% Earnings per share (fully diluted) US$ 0.244 -36% Dividends per share S$ 0.170 0% Net Debt/Equity 0.88x 0.94x 4
Slide 6: Vertically Integrated Across Business Segments
Vertically Integrated Across Business Segments 5
Slide 7: Key Segment Results
Key Segment Results US$ million unless otherwise stated 2023 2022 Volume (M MT) 30.7 29.1 Food Products Revenue 28,326.4 31,516.4 (Consumer Products, Medium Pack and Bulk) PBT 294.9 730.1 Volume (M MT) 61.3 55.6 Feed and Industrial Products Revenue 41,369.2 44,545.6 (Tropical Oils, Oilseeds and Grai
Slide 8: Cash Flow Highlights
Cash Flow Highlights US$ million FY2023 FY2022 Operating cash flow before working capital changes 2,953 3,951 Add/(less): Changes in working capital, interest (paid)/received 932 (1,903) and income taxes paid Acquisitions of subsidiaries, joint ventures and associates (298) (141) Capital expenditure
Slide 9: Funding and Liquidity
Funding and Liquidity US$ million 31 Dec 2023 31 Dec 2022 Liquid working capital 10,174 12,662 Cash & bank balances (current) 8,156 5,722 Structured deposits 3,815 3,585 22,145 21,969 Total short-term borrowings 22,242 23,435 As at Dec 31, 2023 US$ million Available Utilised Balance Credit facilitie
Slide 10: Commodity Price / Net Debt
Commodity Price / Net Debt 20,000 1,400 1,172 19,000 1,075 1,200 18,000 17,000 1,000 Commodity price (US$/MT) Net debt (US$m) 837 16,000 800 669 15,000 570 525 520 505 600 14,000 350 13,000 327 18,747 400 17,238 17,652 12,000 13,605 13,219 200 11,000 10,000 0 Dec 2019 Dec 2020 Dec 2021 Dec 2022 Dec
Slide 11: CAPEX – Funded Internally
CAPEX – Funded Internally US$ million FY2023 FY2022 FY2021 FY2020 FY2019 FY2018 EBITDA 3,963 4,734 4,172 3,609 3,024 2,937 Less: net tax paid (499) (685) (687) (407) (247) (388) Less: net interest paid (635) (471) (266) (213) (450) (253) Less: dividend (ordinary) (848) (803) (741) (699) (555) (532)
Slide 12: 2. Business Developments
2. Business Developments 11
Slide 13: Business Developments
Business Developments Country/Region Highlights China • Continued to expand existing projects and completed two new major complexes in Qiqihar and Zhoukou. • Expanded our food park and central kitchen projects. Malaysia • Our new specialty fats short path distillation plant in Pasir Gudang commenced
Slide 14: Business Developments
Business Developments Country/Region Highlights Vietnam • Expanded capacities of our grains value-added processing, sauces and condiments manufacturing, homecare products, rice bran stabilisation as well as joint venture’s soybean crushing plants in existing sites. • Completed acquisition of minorit
Slide 15: Business Developments
Business Developments Country/Region Highlights Africa • Added new shea crushing, solvent extraction and specialty fats plants in Ghana. • Completed expansion of our saponification capacities in Ethiopia. • Expanded our oil palm plantation acreage in Uganda. • Planning to expand capacity of our rice
Slide 16: Recognised for its Leading Brands and Quality Products
Recognised for its Leading Brands and Quality Products China: • 2023年C-BPI食用油品牌力榜首 by 中国北京–品牌评级机构Chnbrand Arawana • 深圳老字号 by 深圳市商业联合会、深圳市老字号协会、深圳广播电影电视集团、深圳报业集团·深圳商报 • 第十三届中国粮油榜-中国粮油最具影响力品牌 by 粮油市场报 Indonesia: • Superbrand (Cooking Oil Category) by Superbrands Indonesia Sania • Top Brand Award 2023
Slide 17: 3. Food Parks and Central Kitchens in China
3. Food Parks and Central Kitchens in China 16
Slide 18: Expansion into Food Parks
Expansion into Food Parks • With more than 30 years as an agri-commodities processor in China and built manufacturing complexes in more than 60 locations in the country, we are well positioned to establish high quality food parks to facilitate the production of quality, safe and tasty products at a
Slide 19: Our Food Parks
Our Food Parks • Open concept approach, where the food parks are designed to be inclusive and not limited to our own exclusive use. o Storage space available for rent o Tenants operate their own food processing facilities and central kitchens o Manufacturer food products for other restaurants and br
Slide 20: Energy Conservation and Emission Reduction to Create Low-Carbon Food Parks in China
Energy Conservation and Emission Reduction to Create Low-Carbon Food Parks in China • Our food park in Hangzhou is strategically positioned as it is not only connected through highways but also leverages waterway transportation for logistical operations. o Reduction in energy consumption through ind
Slide 21: Our Central Kitchens
Our Central Kitchens • We produce a comprehensive range of products for different demographics and dietary requirements, including student meals, ready-to-eat lunch boxes, microwaveable foods, seasoning sauces, hot pot soup bases, rice and noodle products, and more. • To stay competitive, our WKitch
Slide 22: Supporting the Hangzhou Asian Games and Asian Para Games
Supporting the Hangzhou Asian Games and Asian Para Games • Hangzhou Central Kitchen was selected as the catering service provider of the Hangzhou Asian Games and Asian Para Games, which were held in September and October 2023. As a fruits and vegetables processing centre, we provided meals and fresh
Slide 23: Progress
Progress • Our first food park in Hangzhou commenced operations in April 2022. To date, we have launched five food parks and are constructing five more. 22
Slide 24: 4. ESG Initiatives
4. ESG Initiatives 23
Slide 25: Our Sustainability Progress
Our Sustainability Progress • In 2023, we celebrated our 10th anniversary of our pioneering No Deforestation, No Peat, No Exploitation (NDPE) policy. • We are committed to the preservation of biodiversity within our operations and supply chain, maintaining a total conservation area of over 32,000 he
Slide 26: Thank you
Thank you
Wilmar International — Shareholder Meeting (April 2024) on 6ix