Wilmar International's stock plummeted 10.44% during intraday trading on Thursday, marking a significant decline for the Singapore-listed agribusiness giant.
The sharp drop followed the company's release of weaker-than-expected first-quarter earnings. Wilmar reported a 23% year-on-year decline in core net profit, which was primarily dragged down by temporary unrealized mark-to-market losses stemming from its hedging activities. The company attributed these losses directly to the ongoing conflict in the Middle East.
Analysts noted that the core earnings figure missed market estimates. While Wilmar expects these hedging losses to reverse in the coming quarters as physical transactions are settled, the immediate financial impact and the broader commodity volatility linked to geopolitical tensions prompted a sell-off.