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Wilmar International Limited For the period ended 31 March 2021 Executive Summary Key highlights of Wilmar Group results in 1Q2021 : Revenue EBITDA Net Profit Core Net Profit wilmar 1Q2021 US $ ' 000 1Q2020 US $ ' 000 Change 14,263,334 10,920,742 30.6 % 1,087,332 707,483 53.7 % 450,227 224,111 100.9 % 423,685 306,371 38.3 % Sales statistics ( ' 000MT ) Food Products - Consumer Products - Medium Pack and Bulk 2,485 2,418 2.8 % 4,494 3,752 19.8 % 6,979 6,170 13.1 % Feed and Industrial Products - Tropical Oils 5,193 5,237 -0.8 % - Oilseeds and Grains 4,142 4,280 -3.2 % Sugar 2,433 2,082 16.9 % 11,768 11,599 1.5 % Operating cash flows before working capital changes 1,055,980 871,897 21.1 % Cash flow from operating activities 96,414 1,944,222 -95.0 % Net Debt Shareholders ' Funds 31 Mar 2021 14,114,173 19,196,629 31 Dec 2020 13,605,466 18,882,355 3.7 % 1.7 % Performance for 1Q2021 The Group's net profit doubled to US $ 450.2 million ( 1Q2020 : US $ 224.1 million ) , recording its highest first quarter results since listing . All core segments reported growth in both revenue and profits for 1Q2021 on the back of strong performance across all its core businesses . Results for the quarter were further aided by a reversal of mark - to - market losses on hedging derivatives recorded in the last quarter of 2020. In addition , good manufacturing margins were recognised in the Feed & Industrial Products segment . Profit for the Plantation & Sugar Milling segment was also higher for the quarter , supported by stronger commodity prices in 1Q2021 and the capitalisation of maintenance costs during the sugar milling off - season . These maintenance costs will be amortised over the sugar milling season . The results were further boosted by favourable contributions from the Group's associates and joint ventures during the quarter , as well as non - operating gains from the Group's investment activities . Core profit for the quarter improved by 38.3 % to US $ 423.7 million ( 1Q2020 : US $ 306.4 million ) . Sales for Food Products segment increased by 13.1 % to 7.0 million MT in 1Q2021 ( 1Q2020 : 6.2 million MT ) , with medium pack and bulk businesses driving overall sales growth for the segment . China , the Group's key market , has shown strong recovery from the Covid - 19 pandemic and lockdowns of the previous year . This enabled more people to dine out during the quarter , resulting in stronger demand Page 1 of 2