Wilmar International Limited announced that Mr. Martua Sitorus, the COO of the company, will be relinquishing his position as COO and will assume the post of Executive Deputy Chairman of the Company with effect from 1 July 2013; and Mr. Teo Kim Yong, an Executive Director of the company, will be appointed COO of the company with effect from 1 July 2013. Mr. Martua Sitorus, a co-founder of the company, was appointed COO of the company and a member of the Wilmar Board since 14 July 2006. Mr. Sitorus will be stepping down as COO of the company to focus more time on his family business. Mr. Sitorus will however assume the post of Executive Deputy Chairman of Wilmar and will remain responsible for the Wilmar Group's operations in Indonesia and the plantation operations of the Group. Mr. Sitorus will also remain a substantial shareholder of the company. Mr. Teo Kim Yong, who joined the Wilmar Group in 1992, was appointed an Executive Director of the company on 14 July 2006. Mr. Teo is currently in charge of the Group's commercial activities and merchandising of palm and lauric oils. Upon his appointment as COO of the company, Mr. Teo will also assume responsibility for the manufacturing, palm and bio-diesel trading operations of the Group.

Wilmar International Limited reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company’s revenue was $10,200,521,000 against $10,470,944,000 a year ago. Profit before taxation was $416,840,000 against $388,506,000 a year ago. Profit attributable to owners of the company was $315,350,000 against $255,852,000 a year ago. Earnings per diluted share were 4.9 cents against 4 cents a year ago. EBITDA was $578,452,000 compared to $567,671,000 a year ago. Net asset per share as at March 31, 2013 was $2.30 compared to $2.24 a year ago. Net cash flows generated from operating activities were $813,536,000 compared to net cash flows used in operating activities of $529,959,000 a year ago. Payments for property, plant and equipment were $373,960,000 compared to $404,424,000 a year ago. Payments for biological assets were $5,822,000 compared to $8,005,000 a year ago. Return on average equity was 9.1%. Return on average capital employed was 5.5%. Return on average assets was 3.2%. As at March 31, 2013, net debt was $11,815 million against $11,790 million a year ago.

Wilmar International Limited, Q1 2013 Earnings Call, May 08, 2013