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1、WILMAR ININDIAA N N U A L R E P O R T 2 0 2 21 Who We Are2 Chairmans Message6 Wilmar in India18 Our Global OperationPerformance19 Performance Overview20 Financial Highlights22 What We Do24 Operations Review30 Information Technology31 Investor Relations33 Human Capital Management34 Awards&Accolades37
2、 SustainabilityGovernance48 Board of Directors56 Supplemental Information on Directors Seeking Re-Election58 Key Management Team59 Corporate Information60 Risk Management62 Corporate GovernanceFinancial Statements92 Financial StatementsCONTENTSWHO WE AREWilmar International Limited,founded in 1991 a
3、nd headquartered in Singapore,is today Asias leading agribusiness group.Wilmar is ranked amongst the largest listed companies by market capitalisation on the Singapore Exchange.At the core of Wilmars strategy is an integrated agribusiness model that encompasses the entire value chain of the agricult
4、ural commodity business,from cultivation and milling of palm oil and sugarcane,to processing,branding and distribution of a wide range of edible food products in consumer,medium and bulk packaging,animal feeds and industrial agri-products such as oleochemicals and biodiesel.It has over 500 manufactu
5、ring plants and an extensive distribution network covering China,India,Indonesia and some 50 other countries and regions.Through scale,integration and the logistical advantages of its business model,Wilmar is able to extract margins at every step of the value chain,thereby reaping operational synerg
6、ies and cost efficiencies.Supported by a multinational workforce of about 100,000 people,Wilmar embraces sustainability in its global operations,supply chain and communities.In our commitment to excellence,we are guided by a set of values that defines who we are and the way we work.OUR COREVALUESWe
7、value innovative efforts,ideas and methods to continually improve our business processes.INNOVATIONWe strive for excellent performance in everything we do.EXCELLENCEWe pay careful consideration to the health and safety of our employees at the workplace.SAFETYWe work as one team to achieve our corpor
8、ate goals.TEAMWORKPASSIONWe are passionate about growing our business globally.INTEGRITYWe value honesty,trustworthiness and high ethical standards.WILMAR IN INDIA1CHAIRMANS MESSAGEFY2022 IN REVIEW I am pleased to report that the Group delivered an exceptional performance in FY2022.The team managed
9、our operations well and all key segments achieved higher profits despite the volatility in the commodities markets and economic slowdown during the year.This resulted in a 27.1%jump in net profit to US$2.40 billion while revenue increased by 11.6%to US$73.40 billion in FY2022(FY2021:US$65.79 billion
10、).Diluted earnings per share rose to 38.3 US cents in FY2022,as compared to 29.9 US cents in FY2021.The Groups balance sheet remains strong,with total assets standing at US$60.40 billion(FY2021:US$58.72 billion)while shareholders funds increased marginally to US$19.99 billion(FY2021:US$19.92 billion
11、)due to the strengthening US Dollar which led to lower translation reserve as of 31 December 2022.The Food Products segment was impacted by higher raw material costs especially during the first half of the year but nevertheless,its overall profit improved by 6.2%to US$723.5 million(FY2021:US$680.9 m
12、illion).Overall sales volume grew by 2.8%due to stronger medium pack and bulk products sales.The Feed and Industrial Products segment reported an increase of 23.5%in profit to US$1.56 billion for FY2022(FY2021:US$1.26 billion)owing to sustained good performance from the tropical oils business as wel
13、l as better margins from sugar merchandising activities.Overall volume increased marginally to 55.6 million MT in FY2022(FY2021:55.0 million MT).The Plantation and Sugar Milling segment achieved a profit of US$569.3 million for FY2022(FY2021:US$564.1 million).Palm oil prices weakened significantly i
14、n the second half of the year although favourable weather conditions and a better crop profile resulted in higher fresh fruit bunches production and yield.Sugar milling operations saw a slight drop in sales volume,but benefitted from higher sugar prices.Contributions from the Groups joint ventures a
15、nd associates improved by 24.7%to US$273.8 million(FY2021:US$219.5 million)on account of stronger performance by our investments in China and Europe.In FY2022,we spent approximately S$277.6 million in buying back Wilmar shares at an average price of S$4.11 as we felt the share price does not fully r
16、eflect the value of the Group and will continue with our share buybacks at the appropriate opportunities.2022 HIGHLIGHTSDespite geo-political and pandemic challenges,the Group stayed its course and invested resources to deepen our operational presence in key markets so as to capture new opportunitie
17、s and growth potential.ChinaOur Central Kitchen Food Park project is making good progress.Three projects,in Hangzhou,Zhoukou and Chongqing,have commenced operations in 2022,while another one in Xingping began operations in January 2023.Another two food parks in Langfang and Shenyang will begin opera
18、tions later this year.Our China business is continuing on its growth plan.In 2022,we added a new edible oil refinery,a crushing plant,flour mills,rice mills,as well as oil,flour and rice packing plants.IndonesiaOur Indonesian operations did very well in 2022.We are bullish on Indonesia and will cont
19、inue to expand our rice and flour mills,downstream palm oil processing and fertiliser manufacturing capacities.MalaysiaOur new edible oil refinery in Port Klang commenced operations in September 2022,while the specialty fats plants will be commissioned this year at the same site.The expansion of the
20、 OPO(Oleic-Palmitic-Oleic)plant in Pasir Gudang and a new sodium lauryl sulfate line in Tanjung Langsat will be completed this year,while a new esters production plant in Pasir Gudang will be commissioned later this year.Our food park in Zhoukou is one of the four that commenced operations in 2022.W
21、ILMAR INTERNATIONAL LIMITED ANNUAL REPORT 20222VietnamWe completed expansion projects of our noodles and sauces and condiments businesses.In addition,we are expanding capacity of our joint ventures soybean crushing plant.AfricaWe continue to improve and expand our African operations.In South Africa,
22、the construction of a new edible oil refinery and packing plant is underway and expected to be completed in phases this year.We are also adding a new margarine plant each in Ghana,Zimbabwe and Ivory Coast.WILMAR IN INDIAWilmar established a presence in India through a 50:50 joint venture,Adani Wilma
23、r Limited(AWL),with the Adani Group in 1999.Our first project was an edible oil refinery and consumer pack plant in Mundra,Gujarat.Today,AWL is the largest food and fast-moving consumer goods(FMCG)company in India with plants in many locations across the country.Its flagship brand“Fortune”is the top
24、-selling edible oil brand with a local market share of over 18%.AWL was listed on the National Stock Exchange of India and BSE on 8 February 2022.The successful initial public offering(IPO)raised US$482 million of new capital which will be used to expand its existing manufacturing facilities,develop
25、 new sites as well as make strategic acquisitions and investments.As a result of the IPO,Wilmars interest in AWL was diluted to 44%and a gain of US$175.6 million was recognised in FY2022.Wilmar also owns 62%of listed Shree Renuka Sugars Limited(SRSL),the leading sugar company in India which owns sev
26、en mills,the largest sugar refining and ethanol capacities and is also the largest seller of consumer pack sugar under the“Madhur”brand.Through AWL and SRSL,Wilmar is a leader in edible oils and sugar refining,oleochemicals,specialty fats and ethanol manufacturing as well as consumer pack edible oil
27、s and sugar.We are bullish on our prospects in India as it is forecasted to become the most populous country in the world in 2023 and also the second fastest growing economy in the G20 in FY 2022-23.With their leading market food brands,an extensive distribution network,state-of-the-art manufacturin
28、g facilities and superior sourcing capabilities,both AWL and SRSL are well-positioned to tap on the huge opportunity in India.Adani Wilmars flagship brand“Fortune”is the top-selling edible oil brand with a market share of over 18%in India.Edible oil packaging line in Gujarat,India.SUSTAINABILITY Wil
29、mar remains steadfast in our commitment to addressing climate change through eliminating deforestation from our supply chain and reducing greenhouse gas emissions.Following Wilmars commitment made collectively with 13 other leading agricultural trading and processing companies in 2021 to develop a s
30、ectoral roadmap for enhanced supply chain action consistent with a 1.5C pathway,we have worked with our peers to complete a roadmap that builds on existing commitments and implementation progress made by the palm oil industry over the last decade,while identifying and addressing gaps that will allow
31、 us to achieve our collective emission reduction goals.WILMAR IN INDIA3CHAIRMANS MESSAGEIn October 2022,the Group signed up to the Science Based Targets initiative and we will be developing Group-wide timebound plans to achieve Near-Term and Net Zero emission reduction targets.Wilmar continues to be
32、 recognised for our sustainability performance,notably our continued inclusion in renowned global sustainability indices.In 2022,Wilmar retained its inclusion as a constituent of the Dow Jones Sustainability Indices(DJSI)World Index.This puts us,for the second consecutive year,among the worlds most
33、sustainable food companies,including being listed as an S&P Global Sustainability Yearbook member.This also marks our third straight year on the DJSI Asia Pacific Index.We also retained our position in the FTSE4Good Index Series.We are heartened to have been recognised as the best performing company
34、 globally among 310 of the worlds most influential companies that were assessed by Global Child Forums Food,Beverage and Personal Care benchmark in 2022.In addition to a zero tolerance for child labour and exploitation,we ensure the safety and well-being of children while providing them with access
35、to quality education and an enabling environment for them to thrive.We also support the education of more than 10,000 school-going children living in our plantations globally.The 2022 Corporate Human Rights Benchmark(CHRB)ranked Wilmar second out of 127 companies globally.In the East Asia and Pacifi
36、c region,Wilmar was ranked first.We scored highly in the Remedies and Grievance Mechanisms segment,which is an immense recognition as we were the first in the palm oil industry in 2015 to establish a public Grievance Procedure that is open to all internal and external stakeholders.We continue to imp
37、rove our grievance systems and have put in place separate and dedicated site-level remedial mechanisms and resolution processes for grievances raised by Wilmar employees,workers,or the local communities.For the second consecutive year,we ranked top in the Zoological Society of Londons Sustainable Pa
38、lm Oil Transparency Toolkit(SPOTT)assessment.We achieved an improved total score which is a reflection of our unwavering commitment to the transparency and public disclosure of our policies and efforts related to environmental,social and governance matters.Children in the Humana school in Wilmars oi
39、l palm plantation in Sabah,Malaysia.WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 20224With more than US$2 billion of sustainability-linked loans signed to date since 2017,responsible financing remains part of our holistic approach to integrate sustainability principles into every aspect of Wilmars bus
40、iness operations.PROSPECTSWe will continue to pursue our long-term growth strategy of developing new businesses that have synergies with our existing operations and new markets with high growth potential.We will keep improving the efficiency of our manufacturing operations,expanding our distribution
41、 network and building our brands in all the markets that we operate in,as well as strengthening the integration across the various segments of our business.Our integrated business model and diversified business portfolio enhance our resilience to weather the volatility inherent in the commodities ma
42、rkets and puts us in a better position to deliver more stable earnings performance.DIVIDENDSThe Board has proposed a final dividend of S$0.11 per share.Including the interim dividend of S$0.06 per share paid in August 2022,the total dividend for FY2022 is S$0.17 per share(FY2021:S$0.155 per share),r
43、epresenting the highest ordinary cash dividend since the Groups listing on the Singapore Exchange in 2006.BOARD CHANGESOn behalf of the Board,I am pleased to welcome Mr Gregory Morris who was appointed Non-Executive and Non-Independent Director on 1 July 2022 and Ms Tong Shao Ming who was appointed
44、Alternate Director to Mr Kuok Khoon Hua,a Non-Executive and Non-Independent Director,on 27 October 2022.Mr Morris replaces Mr Raymond Guy Young who stepped down on 1 July 2022.I would like to express the Boards appreciation to Mr Young for his valuable contributions during his tenure.Mr Morris exten
45、sive senior management experience in Archer Daniels Midland will provide valuable insight into the agribusiness industry and contribute to the Boards deliberations.We also look forward to Ms Tong bringing fresh perspectives from her extensive experience in investments,capital markets and corporate f
46、inance transactions.APPRECIATIONOn behalf of the Group,I would like to convey my heartfelt gratitude to our two long-serving directors,Mr Tay Kah Chye and Mr Kwah Thiam Hock,who will be retiring after our Annual General Meeting on 20 April 2023 due to the Singapore Exchange Regulation(SGX RegCo)s ne
47、w rule limiting the tenure of Independent Directors to nine years,and deeming Independent Directors whose tenure exceeds the nine-year limit,as no longer independent.Mr Tay and Mr Kwah have served in and chaired several key committees of the Board and made significant contributions to the Group duri
48、ng their tenure.Last but certainly not least,I would like to thank our shareholders,customers,business associates,bankers and dedicated employees over the years.Your support and belief in our long-term business strategy have enabled the Group to grow from strength to strength and achieve another rec
49、ord performance.Kuok Khoon HongChairman&Chief Executive Officer14 March 2023WILMAR IN INDIA5WE ARE A LEADING AGRI PLAYER IN INDIANO.1WILMARIN INDIAMORE THAN 4,000 EMPLOYEES ONE OF THE LARGEST ETHANOL PRODUCERS MANUFACTURER OF LEADING CONSUMER SUGAR BRAND MADHURLEADING OILSEED CRUSHEROURPRESENCESugar
50、 RefineriesSugar MillsEthanolEdible Oil RefineriesOilseed CrushingOleochemicalsFlour MillsRice MillsSpecialty FatsAlwarFerozepurKakinadaHawalgaMunoliKrishnapatnamKurnoolChhindwaraNeemuchMehsanaMangaloreKandlaKhargoneHaziraGokakPanchagangaTuticorinParadipGummindipoondiBurdhwanKodungaiyurMundraVidisha
51、HaldiaEDIBLE OIL REFINERSUGARREFINERSPECIALTY FATS MANUFACTUREROLEOCHEMICALS MANUFACTURERCONSUMER PACK EDIBLE OILS MANUFACTURERMantralayamRaibagPathriNimraniNagpurBundiAthaniShujalpurWILMAR INTERNATIONAL LIMITED ANNUAL REPORT 20226Top 10Consumer FMCG company in IndiaNo.1Oleochemical manufacturer of
52、India and the largest exporter of castor oilNo.2Player in the area of wheat flour in IndiaROCP(Refined oil in consumer packs)market share of branded edible oilNo.133Tolling units in India113Million households reached9,700+Distributors across India1.7Million retail outlets across India23Manufacturing
53、 units in IndiaADANI WILMAR LIMITED(AWL)Wilmars first venture in India was through a 50:50 joint venture,Adani Wilmar Limited(AWL),with the Adani Group of India.AWL was first engaged in the edible oil business and diversified into the food business encompassing rice,wheat flour,pulses,besan,soya val
54、ue-added products and sugar from 2013 onwards.It is also in the businesses of manufacturing industrial essentials such as oleochemicals and castor oils.Leveraging the strengths and capabilities of Adani Group and Wilmar,AWL has grown to become one of Indias largest food Fast-Moving Consumer Goods(FM
55、CG)companies today.Its flagship brand“Fortune”is the nations number one edible oils brand and number two and three in wheat flour and rice respectively.Moreover,AWL is the number one player in oleochemicals and castor oils export.WILMAR IN INDIA7Silos in Vidisha,Madhya PradeshIntegrated Manufacturin
56、g Complex in MundraThere are 35 Fortune Mart stores in 29 cities.AWLs VisionTo be a leading agribusiness company committed to sustainably deliver safe,nutritious and quality agricultural commodity and food through innovation,highest standards of environmental,social and governance practices,and the
57、creation of livelihoods in communities in which we operate to deliver long-term value to all our stakeholders.State-of-the-art FacilitiesAWL has adopted an integrated approach for its manufacturing facilities investing in the efficiency of its manufacturing capabilities so that it is able to benefit
58、 from cost efficiencies and gain operational synergies from shared utilities,manpower and distribution.AWL operates 23 manufacturing units-10 crushing and 19 refineries-located in 10 states in India.Seven refineries are port-based,facilitating the use of imported crude edible oil while the others ar
59、e located proximate to raw material production bases.Its refinery in Mundra is one of the largest at any single location in India with a capacity of 5,000 MT per day.As of 31 December 2022,AWL employed 33 leased tolling units,providing additional manufacturing capacities through an asset-light busin
60、ess model.Extensive ReachAWL has the widest pan-India distribution network among branded edible oil companies,comprising more than 9,700 distributors that cover around 1.7 million retail outlets which is about 38%of the retail universe in India.As of 31 December 2022,AWL possessed 90 depots,covering
61、 an aggregate storage space of around 1.94 million square feet.AWLs existing distribution network is a long-term competitive advantage as it will facilitate the introduction of more products WILMARIN INDIAutilising existing trade relationships,thereby enhancing primary customer loyalty.The widening
62、portfolio will incentivise the accretion of more trade partners,deepening our market penetration.AWL launched Fortune Mart stores operating on a franchise model and exclusively selling Fortune and its own branded products.As of 31 December 2022,there are 35 stores across 29 cities.AWL has also expan
63、ded into the online arena through Fortune Online(available in 25 cities)for retail customers and B2B app Fortune Business for businesses(available in 20 cities).These efforts ensure that AWLs products are readily available where and when consumers need them.As of 31 December 2022,one out of three ho
64、useholds in India uses a product from AWL,translating to a reach of approximately 113 million households.WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 20228Comprehensive Product Portfolio AWL manufactures packaged food,edible oils,bakery and lauric products,personal care products and industrial essenti
65、als such as oleochemicals,castor oil and its derivatives and de-oiled cakes.AWL has also diversified into value-added edible oil products like rice bran health oil,fortified foods,ready-to-cook soya chunks,khichdi and other fast-moving consumer goods.Food&FMCG CategoryIndustrial EssentialsEdible Oil
66、Soyabean oilPalm olein oilSunflower oilMustard oilRice bran health oilCottonseed oilGroundnut oilBlended oilVanaspatiSpecialty fats and industrial margarineOleochemicals:Extensive array of products derived from oils/fatCastor:Castor oil and its derivativesLecithin:International standard of Non-GMO s
67、oya lecithinFMCG ProductsRice:Long,aromatic and tasty basmati riceSoya chunks:High on proteinBesan and SattuPulses:Flavourful and nutritious dalKhichdi:A nutritious&healthy superfoodWheat flour:Experience the freshness of Natural ChakkiSugarFortune 5-minute Soya Chunkies Healthy and tasty snackPoha:
68、A healthy breakfast/snacking choiceSoap:A refreshing experienceAlife Handwash&Sanitiser:For germ free protectionFood ProductsWILMAR IN INDIA9RiceEdible OilsWILMARIN INDIATRUSTED BRANDSAWLs flagship brand“Fortune”is the top edible oil brand in India.The premium brand is trusted for its consistency,qu
69、ality,dependability and superior cooking outcomes.In addition,AWL owns a number of masstige brands like Bullet,Kings,Aadhar,Raag,Alpha,Jubilee,Avsar,Golden Chef and Fryola.These brands address various price points and enhance affordability.Fortune Soya Health OilFortune Refined Sunflower OilFortune
70、Kachi Ghani Mustard OilFortune Rice Bran Health OilFortune Soya Plus OilFortune Xpert Pro Immunity OilFortune Xpert Pro Sugarconscious OilFortune Xpert Total Balance OilFortune Cottonlite OilFortune Refined Groundnut OilFortune Grounutt Activ OilFortune Biryani Classic RiceFortune Biryani Special Ri
71、ceFortune Super Basmati RiceFortune Everyday Basmati RiceFortune Dubar Basmati RiceFortune Rozana Basmati RiceFortune Hamesha Basmati RiceFortune Mogra RiceFortune Mini Mogra RiceFortune Sona MasooriSupreme RiceFortune Sona Masoori Regular RiceFortune Wada Kolam RiceWILMAR INTERNATIONAL LIMITED ANNU
72、AL REPORT 202210Soya Food ProductsFloursUnpolished PulsesFortune Banskathi RiceJubilee RiceKohinoor Authentic Basmati RiceTrophy Royale Finest Extra Long Basmati RiceCharminar Select Basmati RiceFortune Chakki Fresh AttaFortune Chana BesanFortune Chana SattuFortune RawaFortune MaidaFortune SujiFortu
73、ne Unpolished Arhar DalFortune Unpolished Chana DalFortune Unpolished Masoor DalFortune Soya ChunksFortune Mini Soya ChunksFortune Soya GranulesWILMAR IN INDIA11SugarPersonal CarePopular RangeWILMARIN INDIAReady to Cook(RTC)Fortune Achaari KhichdiFortune Gujarati KhichdiFortune Bengali Bhog Khichuri
74、Fortune Punjabi KhichdiFortune Mexican Salsa KhichdiFortune Indori PohaFortune Thick PohaFortune Soya ChunkiesChinese ManchurianFortune Soya ChunkiesMexican SalsaFortune Soya ChunkiesAfrican Peri PeriAlife SoapAlife HandwashAlife SanitiserFortune SugarKings Soyabean OilKings Sunflower OilKings Musta
75、rd OilBullet Lite Mustard OilRaag Gold Refined Palm OilAadhar Refined Sunflower OilFortune Pav Bhaji KhichdiWILMAR INTERNATIONAL LIMITED ANNUAL REPORT 202212Institutional Frying OilSpecialty FatsVanaspatiRaag VanaspatiAvsar VanaspatiFryolaWilshortJubilee MasterchefAlpha CookwellWillarineFryolaWilcak
76、eWilpuffWilkoteBesschocBessiceWilkrimUltrachocoWILMAR IN INDIA13AWL made its debut on the National Stock Exchange of India and BSE on 8 February 2022.WILMARIN INDIAPublic Listing AWL was listed on the National Stock Exchange of India and BSE on 8 February 2022,with a successful initial public offeri
77、ng that raised US$482 million of new capital.Post-listing,Wilmar now holds a 44%interest in AWL.Proceeds from the IPO will go towards AWLs capital expenditure on building food capacities over the next few years.Environmental,Social and Governance AWL is committed to drive positive transformation in
78、Indias agriculture sector.It endeavours to deliver value from sustainable agriculture and food products that safeguard the people and the planet.In its day-to-day and supply chain operations,AWL draws extensively from Wilmars No Deforestation,No Peat,No Exploitation(NDPE)Policy as well as other sust
79、ainability policies to strengthen its commitment towards responsible sourcing and other sustainability goals.Its suppliers are also expected to communicate and implement its sustainability principles across their respective supply chains.Environmental AWL is committed to sustainable sourcing,promoti
80、ng green energy,water conservation and recyclable packaging.AWL has a comprehensive water management strategy that aims to improve water management practices across operations.Its policies,standards and standard operating procedures ensure that operations possess in-built measures to recover,recycle
81、 and re-use water in a sustainable manner.Water consumption is monitored across all plants with the objective to reduce consumption.To conserve energy,AWL has mapped the comprehensive nature of non-renewable resources being used and strives to enhance the proportion of renewable sources across its o
82、perations.It has a structured energy and carbon management plan,and is committed to a reduction in energy consumption,enhanced energy efficiency and integration of clean energy sources.AWLs vertically integrated manufacturing plants make an integrated waste management approach possible.Its three-pro
83、nged approach comprises waste minimisation,recovery and recycling,as well as development and adoption of eco-friendly waste disposal.AWLs operations are aligned with sustainability goals and measurable targets.These are directed at reducing the use of natural resources and reducing energy consumptio
84、n that directly affects the amount of greenhouse gases emitted into the atmosphere.This approach prioritises the consumption of renewable energy sources in industrial units wherever feasible.AWL has an action plan to comply with Plastic Waste Management Rules,warranting a radical change in consumer
85、mindset.This co-operative effort encourages stake-holding across the entire process comprising waste generation,primary collection,segregation,recycling and final disposal.WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 202214The Adani Foundation runs mobile health care units and rural clinics to provide
86、 healthcare facilities to communities.Fortune SuPoshans village health volunteers have collectively reached out to more than 100,000 malnourished children.Village health volunteers spread awareness and promote behavioural change to address malnutrition and anaemia among children.SocialAWLs social re
87、sponsibility extends to the following focus areas:Fortune SuPoshan A community-based project that addresses malnutrition and anaemia among children 0-5 years of age,reduces malnutrition and anaemia in adolescent girls and pregnant/lactating mothers as well as women in the reproductive age group.Educ
88、ation Run free and subsidised schools,special learning programmes in government schools and offer scholarships.Community Health Improve access to basic healthcare services in remote regions by operating mobile healthcare units and rural clinics;and provide potable water.Sustainable Livelihoods Empow
89、er individuals with a decent standard of living by promoting self-help groups,enhancing agricultural practices and supporting skill development training.Community Infrastructure Development Access to resources,increase in the avenues for developing livelihoods,safe and clean sources of drinking wate
90、r,and access to qualitative primary health care systems lead to better productivity,reduction in morbidity and adequate employment.Governance AWLs governance framework is guided by its Board of Directors which possesses multi-sectorial competence to steer the company towards achieving long-term grow
91、th in a responsible manner while building a trustworthy corporate brand.OutlookAWL aims to achieve a steady growth and become the largest food FMCG company in India across all key packaged food segments.The potential of the untapped market in packaged foods and staples presents a huge opportunity.It
92、 will also expand its product line-up with ready-to-cook and ready-to-eat segments.Concurrently,AWL will leverage its existing network of institutional businesses including the Hotels,Restaurants and Catering(HoReCa)segment to cross-sell complementary products.Furthermore,AWL will continue to streng
93、then its distribution network and ensure uninterrupted supply lines to make inroads into Tier-III cities and rural landscape.WILMAR IN INDIA15SHREE RENUKA SUGARS LIMITED(SRSL)SRSL is the largest raw sugar refiner and a leading ethanol producer.It is an integrated sugar/energy company,present across
94、the entire value chain of sugar.It deploys best available technologies and processes to drive resource efficiency and develop sustainable and affordable products.SRSLs VisionTo be a leading sustainable agribusiness company in the food and bioenergy space committed to its customers and farmer communi
95、ty.SugarSRSL operates seven sugar mills with integrated ethanol and power cogeneration capacity,and fully integrated to process sugarcane and manufacture sugar using a sulphur-free process.It also operates two port-based refineries that facilitate the delivery of superior quality products to its cus
96、tomers.The refinery business is export-oriented.SRSL imports or sources domestically produced raw sugar and exports white sugar to different parts of the world.“Madhur”,its flagship brand,is the leading consumer pack sugar brand in India.Leveraging its strong marketing and sales support,Madhur has b
97、ecome a household name from local kirana stores to leading modern retail chains across the country.Ethanol The by-products from the manufacturing of sugar are utilised to produce ethanol.Ethanol is produced either directly from cane juice or from molasses.SRSL is a leading supplier of ethanol to oil
98、 marketing companies.Its distilleries produce both potable alcohol and ethanol that can be blended with petroleum.Having achieved the target of 10%ethanol blending in June 2022,the Indian government has pushed forward its target of 20%by five years to 2025.This presents vast opportunities for SRSL t
99、o gradually move towards becoming an energy company.Renewable Green EnergySRSLs cogeneration plants convert bagasse,a by-product of the sugar manufacturing process,into electrical and thermal energy.The majority of its cogeneration process is powered through a circular economy that ultimately result
100、s in significant reductions in greenhouse gas emissions.A significant portion of the power generated is consumed captively within its plants while the remainder is sold to the State electricity grid,other industries and in power exchanges.Environmental,Social and Governance In September 2021,Wilmar
101、launched our No Deforestation,No People Exploitation Sugar policy,from which SRSL draws guidance to align its operations and supply chain management.WILMARIN INDIASugar mill with integrated ethanol capacity in Athani.WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 202216Environmental SRSL uses a large pr
102、oportion of energy generated by its cogeneration units.Around 83%of its cogeneration process is renewable energy,resulting in significant reduction in greenhouse gas emissions.To lower energy consumption by the pumping of water in sugarcane farms,SRSL implemented solar-powered irrigation pumping sys
103、tems as an alternative power source for farmers and their plantations.One of its sugar refineries has installed two 50kWh solar plants that will reduce its carbon emissions by up to 136,000 kilogrammes annually.One of its sugar mills has also installed a 150kWh solar plant.Wastewater is treated and
104、reused in cooling towers and to irrigate the green belts within the mill compounds.Spent wash from distilleries is used in incinerator boiler to produce steam and power to operate the distillery.The press mud from sugar processing is mixed with treated waste of distillery to produce bio-manure.SRSL
105、is implementing further measures to achieve zero liquid discharge for all distillery plants.SocialIn partnership with the Coca-Cola Foundation and Solidaridad Asia,SRSL has been supporting sugarcane outgrowers in India since 2017.Some new initiatives implemented in 2022 include establishing a soil t
106、esting lab,installing biodigesters,distributing waste decomposers and introducing integrated pest management.In support of the Sustainable Sugarcane Initiative,SRSL distributed safety kits and organised health and safety awareness camps for the farming community,especially for the women farmers.PROS
107、PECTS The Indian economy is anticipated to grow by 7.3%in 2022-23,maintaining its position as the fastest-growing economy in the world.According to the United Nations,India will become the most populous country in 2023.This offers a huge potential in the food business.Over the years,both AWL and SRS
108、L have created some of the strongest food brands,an extensive distribution network,state-of-the-art manufacturing facilities and superior sourcing capabilities.Both companies are well-positioned to scale their businesses to tap the huge opportunity in India.SRSL supports the educational needs of stu
109、dents by distributing educational material to the primary schools near its operations.SRSL also contributes towards the supply of clean potable water by installing reverse osmosis plants and borewell hand pumps in addition to refurbishment of ponds.In support of the communitys healthcare,SRSL donate
110、d fully-equipped ambulances to the Primary Health Care Centres in Bagalkot District of Karnataka.During the Covid-19 pandemic,SRSL distributed sanitisers and oxygen concentrators to health centres near its operations.Governance At SRSL,the Board of Directors is tasked to ensure that the company is g
111、overned effectively,with integrity,transparency and in accordance with sound corporate governance practices.The governance structures as well as processes are regularly reviewed to take into account new developments and to facilitate an effective leadership.OutlookGoing forward,as consumer preferenc
112、e shifts away from loose sugar to packed sugar for health and hygiene reasons,SRSL will continue to focus on expanding its customer base for Madhur branded products while growing its ethanol business and value-added sugar exports.Solar Plant in Pathri.Sugar mill in Havalga.WILMAR IN INDIA17OUR GLOBA
113、L OPERATIONWilmar is a global leader in processing and merchandising of edible oils,oilseed crushing,sugar merchandising,milling and refining,production of oleochemicals,specialty fats,palm biodiesel,flour milling,rice milling and consumer pack oils.*Including subsidiaries,joint ventures and associa
114、tesUnited States of America MexicoGuatemala BrazilNetherlands United KingdomSpain SenegalGhanaIvory Coast Morocco Liberia Ukraine Poland Germany Italy Nigeria Djibouti Tanzania Mozambique Mauritius Ethiopia KenyaUganda Zambia Zimbabwe South Africa Russia China Pakistan IndiaSri Lanka Australia Papua
115、 New Guinea PhilippinesIndonesia Singapore Thailand Cambodia MyanmarBangladesh Vietnam Laos New CaledoniaFiji JapanNew Zealand MalaysiaUnited Arab Emirates Africa One of the largest investors in oil palm plantations,one of the largest edible oil refiners and producers of consumer pack oils,soaps and
116、 detergents Third largest sugar producerIndonesia&Malaysia One of the largest oil palm plantation owners and the largest palm oil refiner,palm kernel and copra crusher,flour miller,specialty fats,oleochemicals and biodiesel manufacturer Largest producer of branded consumer pack oils and third larges
117、t rice miller in Indonesia Vietnam Largest edible oils refiner,specialty fats manufacturer and oilseed crusher Leading flour miller and grains value-added processor Leading producer of branded consumer pack oils,rice,flour,sauces and condiments China Largest edible oils refiner and specialty fats an
118、d oleochemicals manufacturer Leading oilseed crusher,producer of branded consumer pack oils,rice and flour One of the largest flour and rice millers India Largest branded consumer pack oils,specialty fats and oleochemicals producer and edible oils refiner Leading oilseed crusher Leading sugar miller
119、,refiner and ethanol producerEurope Leading refiner of tropical oilsAustralia Largest raw sugar producer and refiner Leading consumer brands in sugar and sweetener market Top 10 global raw sugar producerOVER 1,000 MANUFACTURING PLANTS IN 34 COUNTRIES AND REGIONS*EXTENSIVE DISTRIBUTION NETWORK IN CHI
120、NA,INDIA,INDONESIA AND SOME 50 OTHER COUNTRIES AND REGIONSMULTINATIONAL WORKFORCE OF ABOUT 100,000 STAFF GLOBALLY WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 202218PERFORMANCE OVERVIEWTotal AssetsUS$60.40bEBITDAUS$4.73bRevenueUS$73.40bDividend Per ShareS$0.170Net ProfitUS$2.40bDiluted Earnings Per Sh
121、are38.3 US centsNet Asset Per ShareUS$3.20Core Net ProfitUS$2.42bWILMAR IN INDIA19FINANCIAL HIGHLIGHTSFY2022FY2021FY2020FY2019FY2018INCOME STATEMENT (US$MILLION)Revenue73,39965,79450,52742,64144,498EBITDA 4,7344,1723,6093,0242,937Profit before tax from continuing operations 3,1172,7662,3111,6981,612
122、Net profit including discontinued operations 2,4021,8901,5341,2931,125Earnings per share fully diluted(US cents)including discontinued operations 38.329.924.120.417.8Dividend per share(Singapore cents)17.015.513.012.510.5Dividend payout ratio on net profit(%)#3338404443Special dividend per share(Sin
123、gapore cents)6.5CASH FLOW (US$MILLION)Operating cash flows before working capital changes 3,9513,9943,5942,8941,956Capital expenditure2,4832,5271,9761,8131,325Working capital changes(778)(3,100)(2,443)1,098149Investment in subsidiaries,joint ventures and associates417BALANCE SHEET (US$MIL
124、LION)+Shareholders funds 19,98619,92418,88216,76316,046Total assets+60,40258,71851,02047,04545,713Total liabilities+37,80136,11629,63729,16928,938Net loans and borrowings18,74717,23813,60513,21913,460Net gearing(x)0.940.870.720.790.84Adjusted net loans and borrowings*6,0855,3495,0386,1025,426Adjuste
125、d net gearing(x)0.300.270.270.360.34Net asset per share(US cents)320.2316.5298.9264.4253.6Net tangible assets per share(US cents)+233.6230.8212.7179.8182.8PROFIT BEFORE TAX BY BUSINESS SEGMENTFY2021Food Products25%Feed&Industrial Products46%Plantation and Sugar Milling19%Others2%Associates and Joint
126、 Ventures8%Note:Segmental breakdown calculation excludes unallocated expenses,changes in fair value of biological asset and impairment of property,plant and equipment.+FY2018 figures were restated subsequent to the finalisation of purchase price allocation exercise for the acquisition of Shree Renuk
127、a Sugars Limited(“SRSL”)and its subsidiaries.+FY2019 figures have been restated subsequent to the finalisation of purchase price allocation exercise for the acquisition of Wilmar GF Singapore Holdings Pte.Ltd.(“GF”)and its subsidiaries.#FY2022 dividend payout ratio on net profit is estimated based o
128、n number of shares outstanding as at 31 January 2023.*Adjusted net loans and borrowings exclude liquid working capital and liabilities directly associated with disposal group classified as held for sale.Food Products23%Feed&Industrial Products49%Plantation and Sugar Milling19%Others0%Associates and
129、Joint Ventures9%FY2022 Amount is 0.1%WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 202220SALES VOLUME BY BUSINESS SEGMENT(000 MT)FY2021Food Products28,265Feed&Industrial Products54,994Sugar Milling3,300Food Products29,067Feed&Industrial Products55,615Sugar Milling3,239FY2022Food Products27,217Feed&Indu
130、strial Products58,084Sugar Milling3,527FY202033%63%4%33%63%4%31%65%4%REVENUE(US$MILLION)FY2018 FY2019 FY2020 FY2021 FY202244,49842,64150,52765,79473,399NET PROFIT(US$MILLION)FY2018 FY2019 FY2020 FY2021 FY20221,1251,2931,5341,8902,402DILUTED EARNINGS PER SHARE(US CENTS)FY2018 FY2019 FY2020 FY2021 FY2
131、02217.820.424.129.938.3DIVIDEND PAYOUT RATIO ON NET PROFIT#(%)FY2018 FY2019 FY2020 FY2021 FY20224344403833RETURN ON AVERAGE EQUITY(%)FY2018 FY2019 FY2020 FY2021 FY20227.07.98.69.712.0WILMAR IN INDIA21WHAT WE DORevenueUS$4.74bResultsUS$569.3mOil palm plantation and sugar milling activities,which incl
132、ude the cultivation and milling of palm oil and sugarcane.OIL PALMPLANTATIONSUGARMILLINGFresh Fruit Bunches4.4m MTVolume3.2m MTRevenueUS$44.55bResultsUS$1.56bProcessing,merchandising and distribution of products,which include animal feeds,non-edible palm and lauric products,agricultural commodities,
133、oleochemicals,gas oil and biodiesel.TROPICAL OILSOILSEEDS&GRAINSSUGARVolume22.2m MTVolume21.4m MTVolume12.1m MTVERTICALLY INTEGRATED BUSINESS MODELWilmars strategy is to build an integrated model encompassing the entire value chain of the agricultural commodity business,from origination to processin
134、g,trading,merchandising branded products and distribution.PLANTATION AND SUGAR MILLINGFEED AND INDUSTRIAL PRODUCTSORIGINATIONPROCESSINGWILMAR INTERNATIONAL LIMITED ANNUAL REPORT 202222RevenueUS$31.52bResultsUS$723.5mProcessing,branding and distribution of a wide range of edible food products,which i
135、nclude vegetable oil produced from palm and oilseeds,sugar,flour,rice,noodles,specialty fats,snacks,bakery and dairy products.These food products are sold in either consumer and medium packaging or in bulk,depending on consumer requirements.CONSUMER PRODUCTSMEDIUM PACK AND BULKVolume8.5m MTVolume20.
136、6m MT38Liquid Bulk Vessels16Dry Bulk Vessels9Ports in Indonesia7Ports in China1Port in MyanmarFOOD PRODUCTSLOGISTICSPRODUCTSTRADING,MERCHANDISING&DISTRIBUTIONCUSTOMERSWILMAR IN INDIA23OPERATIONS REVIEWA GLOBAL INTEGRATED AGRIBUSINESS At the core of Wilmars strategy is a resilient business model enco
137、mpassing the entire value chain of the agricultural commodity business,from origination,processing,merchandising to manufacturing of a wide range of branded consumer products.Over the years,we have invested substantially in building an integrated agri and food business which gives us economies of sc
138、ale and operational efficiencies,allowing us to be one of the most efficient producers in the industry.This efficiency is complemented by our strategically located facilities in both origin and destination markets,which enable us to manage logistic and operational costs effectively.We also own a fle
139、et of liquid and dry bulk carriers to support our shipping requirements.As at 31 December 2022,the Group owned and controlled tankers/dry bulk vessels with a total tonnage of about 2.6 million MT.One of our key assets is our people.We believe we have some of the best people in the industry who have
140、stayed with us for many years and built our Group to what it is today.Our business partners are another great asset who have contributed to the success of the Group in many countries.COMPANY DEVELOPMENTSWe remain committed to our strategy and will continue to work towards expanding our footprint in
141、the agri and food businesses globally,with a focus on Asia and Africa,as well as strengthening the integration across the various segments of our business.In FY2022,we added capacities in various countries such as China,Indonesia,Malaysia,Vietnam,Pakistan,Papua New Guinea,Ghana and Ivory Coast,in th
142、e following areas:Edible oil refining Oilseeds crushing Rice bran extraction Flour,rice and sugar milling Edible oil,flour,rice and sugar packing Noodles manufacturing Specialty fats manufacturing Compound fertiliser manufacturing Soap and detergent manufacturingIn India,we successfully acquired the
143、 domestic business of renowned brands Kohinoor,Charminar and Trophy Basmati Rice from McCormick and launched new products such as Fortune Poha(Flattened Rice).We also became the first national player to launch branded consumer pack rice targeted specifically for various regions in the country,includ
144、ing rice variants such as Miniket,Banskanthi and Gobindo Bhog in Eastern markets.For our sugar business,we continue to increase our consumer pack and ethanol production in India.Our associates sugar refinery located in Saudi Arabia reached full capacity in FY2022.WILMAR INTERNATIONAL LIMITED ANNUAL
145、REPORT 202224WILMAR CENTRAL KITCHEN FOOD PARK BUSINESS MODELAccess to Culinary and Baking InstitutesAccess to Yihai Kerry Arawana(YKA)Food R&DMulti-Temperature Zone WarehousingQA/QC and Food Safety TestingExhibition/Tasting CentersConsolidated ProcurementConsolidated LogisticsMarketing Services and
146、Distribution NetworkOwn CKStudent MealsInstitutional MealsRetirement Home MealsOthersExternal TenantsRaw Material Processing and StorageChinese Food Manufacturers and Other ProducersChain RestaurantsSupermarket and Convenience StoresOthersMeat Suppliers and ProcessorsSeafood Suppliers and Processors
147、Fruit&Vegetable Suppliers and ProcessorsOthersShared ServicesCentral KitchensStrategic Ingredient SuppliersFOOD ECOSYSTEMYKA Integrated Manufacturing ComplexFood Park in Hangzhou,China.CENTRAL KITCHEN FOOD PARK PROJECTIn China,the Central Kitchen Food Park project is an important new extension of th
148、e Groups value chain and complements our existing businesses.We will build multiple integrated food park complexes and site most of them in our integrated manufacturing plants throughout China to address the growing need for efficient and quality food production.We will adopt an open approach so tha
149、t we can attract a broad tenant mix and bring together strategic ingredients suppliers,other food manufacturers and service providers.The efficiency and scale of this approach will help achieve the synergies of the projects to produce good tasting,safe,consistent quality food products at lower costs
150、.We have formed a joint venture with SF Express(顺丰速运)to provide efficient distribution of products from our food parks.We are planning for another 20 locations in the next two years and many more over the next decade.In Operation:Hangzhou 杭州 Zhoukou 周口 Chongqing 重庆 Xingping 兴平(in January 2023)Four f
151、ood parks in operation with six more under constructionUnder Construction:Langfang 廊坊 Shenyang 沈阳 Kunshan 昆山 Yanzhou 兖州 Guangzhou 广州 Huaian 淮安Flour MillEdible Oil RefineryRice MillCondiment FactoryOthersWILMAR IN INDIA25FOOD PRODUCTSThis segment comprises the processing,branding and distribution of
152、a wide range of edible food products including vegetable oils,sugar,flour,rice,noodles,specialty fats,snacks,bakery and dairy products.These food products are sold in either consumer and medium packaging or in bulk.We are the largest producer of consumer pack edible oils in the world,with leading po
153、sitions in China,Indonesia,India,Vietnam,Sri Lanka and several African countries.We also have growing sales of rice,flour,noodles and condiments under a diverse brand portfolio.Our range of high-quality essential food products has enabled us to build extensive sales and distribution networks in many
154、 countries.Our consumer brands are well-established and renowned for their quality,having won numerous product awards (https:/www.wilmar- their respective markets.Market Trends 2022 saw surging raw material and food prices driven by macro factors such as the Russian-Ukraine conflict and policy chang
155、es in Indonesia relating to the sale and export of palm oil.These factors drove commodity prices to unprecedented levels in the first half of the year.The higher raw material costs impacted the Groups profitability.With Covid-19 lockdowns still in place in multiple cities in China for most of the ye
156、ar,demand from the hotels,restaurants and catering(HORECA)businesses also continued to be affected.Towards the end of the year,even as China eased Covid-19 restrictions,demand remained muted due to a spike in Covid-19 cases in the country.Over the longer term,e-commerce and modern retail channels su
157、ch as community group buying and online live sales are likely to become more popular as consumer buying behaviours continue to evolve post pandemic.OPERATIONS REVIEWOur PerformanceIn FY2022,the Food Products segment continued to be impacted by higher raw material costs,especially during the first ha
158、lf of the year.However,pre-tax profit improved to US$723.5 million mainly due to the gain on dilution of interest in Adani Wilmar Limited amounting to US$175.6 million recognised in 1Q2022.Overall sales volume for the segment grew by 3%to 29.1 million MT in FY2022,driven by higher consumption of med
159、ium pack and bulk products.In particular,sales volume for rice and flour increased during the year,in line with our capacity expansion in these businesses.However,the improvements were partially offset by a decrease in consumer products sales as the widespread outbreak of Covid-19 cases in China res
160、ulted in a slowdown in sales.Outlook&StrategyWe will continue to build our distribution networks and leverage our prominent brands as well as research and development capabilities to develop new products such as condiments and home care products to widen our range of offerings.We are also developing
161、 higher margin and superior quality products to improve our profitability.With Covid-19 restrictions easing in more countries,especially in China,we are cautiously optimistic that demand for our food products will recover as consumer sentiment and spending improve.In India,we expect food and fast-mo
162、ving consumer goods segments to continue to grow with the expansion of the economy.Our strategy in India is similar to China.Our consumer pack rice and flour are marketed under a diverse brand portfolio.WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 202226Oleochemicals plant in Gresik,Indonesia.FEED&IND
163、USTRIAL PRODUCTSThis segment comprises the processing,merchandising and distribution of animal feeds,non-edible palm and lauric products,agricultural commodities,oleochemicals,gas oil and biodiesel.We operate crushing plants in China,India,Vietnam,Malaysia,Zimbabwe,Zambia and South Africa.We crush a
164、 wide range of oilseeds including soybean,rapeseed,groundnut,sunflower seed,sesame seed,cotton seed,copra and palm kernels.We are the worlds largest producer of palm biodiesel and oleochemicals.We offer a comprehensive range of products from basic oleochemicals,derivatives to biofuels.We also operat
165、e an integrated sugar business with milling,refining and ethanol production.We have a market-leading merchandising team headquartered in Singapore and trade about 15 million MT of raw and white sugar globally on an annual basis.Oilseeds&Grains Crushing Soybean prices rose at the start of 2022 driven
166、 by concerns over a drought in Argentina,the escalation of the Russia-Ukraine war in February as well as Indonesias palm oil export ban in end-April.By end-May,soybean prices had started to retreat as palm oil prices fell after Indonesia lifted its export ban on palm oil.Soybean meal demand in China
167、 was weaker due to prolonged Covid-19 lockdowns,poor hog margins,higher freight costs and high prices.Tropical OilsCrude palm oil(CPO)prices were on an upward trend in 1Q2022 due to tight supply of vegetable oils following implementation of Indonesias Domestic Market Obligation(DMO)scheme and palm o
168、il export ban as well as the Russia-Ukraine war which resulted in a shortage of sunflower oil.Prices started to come off after Indonesia lifted its palm oil export ban and removed the export levy for all palm oil products.CPO prices started the year at RM5,228,reached a record RM8,076 in March befor
169、e closing the year at RM4,048,down 23%from the beginning of the year.Nonetheless,palm prices stayed at elevated levels compared to historical prices,partly due to continued support from the Indonesian biodiesel programme.Biodiesel production increased more than 10%to approximately 10.4 million kilol
170、itres(kL)in 2022 from approximately 9.2 million kL in 2021.SugarTight supply and demand environment in the global sugar market resulted in sugar prices remaining range-bound between 18 and 21 US cents per pound for most of 2022 and the white sugar premium(the difference between the price of raw suga
171、r and white sugar)staying above US$80 per MT.Our PerformanceIn FY2022,the Feed and Industrial Products segment continued to perform well and delivered pre-tax profit of US$1.56 billion,an improvement of 23%compared to FY2021.The robust results were achieved on the back of sustained good performance
172、from the tropical oils business as well as better margins from sugar merchandising activities.However,these were partially impacted by weaker crush margins from the oilseeds business in China.Overall sales volume for the segment increased by 1%to 55.6 million MT,driven by improvement in sales in the
173、 oilseeds and grains,as well as sugar businesses.Outlook&StrategySoybean demand in China is expected to improve in 2023 due to the easing of Covid-19 restrictions in China and lower prices are projected due to higher soybean supplies from Brazil.For sugar,the market is expected to stay tight with lo
174、wer production from Europe,Thailand and China,and lower exports from India in 2023.For tropical oils,we expect demand to be supported by higher biodiesel blending in Indonesia and the re-opening of the Chinese economy.The Indonesian government increased its biodiesel blending mandate from 30%to 35%f
175、or 2023.The government also announced tightening of export trade rules,reducing the volume of exports allowed from eight to six times of the domestic palm oil sales volume.Palm oil exports will likely be further restricted between February and April 2023 to ensure sufficient supply to the domestic m
176、arket ahead of the Lebaran holiday in Indonesia.However,considering the weaker global economic environment,we maintain a cautious outlook for 2023.WILMAR IN INDIA27PLANTATION&SUGAR MILLINGThis segment comprises oil palm plantation and sugar milling activities,which include the cultivation and millin
177、g of palm oil and sugarcane,as well as the production of compound fertilisers.As at 31 December 2022,our total planted area for oil palm stands at 231,697 hectares(ha).Through joint ventures,we own plantations in Uganda and West Africa totalling approximately 54,000 ha.Wilmar also directly manages 3
178、6,390 ha under smallholder schemes in Indonesia and Africa,and another 167,999 ha under smallholder schemes through associates in Africa.In recent years,we stepped up our re-planting programme and thus maintaining the average age of our plantations at a relatively young 13 years.This will support th
179、e medium to long-term growth of our plantation operations.Around 60%of the plantations are at the prime production age of seven to 18 years and 24%are at age six years and below.We operate sugar cane and sugar beet mills in Australia,India,Myanmar,China and Morocco.We are Australias largest raw suga
180、r producer accounting for more than half of Australias raw sugar.Each year we crush about 15 million tonnes of sugarcane to make more than two million tonnes of raw sugar.About 80%of the raw sugar we produce is shipped to overseas markets.We own 62%of Shree Renuka Sugars Limited(SRSL),the leading su
181、gar company in India.SRSL has a cane crushing capacity of 8.5 million MT per annum and ethanol distillery capacity of 1,250 kilolitres per day.Our associate in Morocco,Cosumar S.A.,operates sugar cane/sugar beet mills and a sugar refinery.Cosumar is the sole sugar producer in Morocco and the third l
182、argest in the African continent.In Myanmar,we have a total sugar production capacity of 1.4 million MT and a bioethanol plant.In China,we process sugar beet in Inner Mongolia.Our PerformanceIn FY2022,the Plantation and Sugar Milling segments pre-tax profit improved 1%to US$569.3 million on the back
183、of higher palm oil prices and better performance by the sugar milling operations in India for the first half of the year.In palm plantations,favourable weather conditions and a better crop profile resulted in higher fresh fruit bunches production across all the Groups plantation regions,with total p
184、roduction growing by 11%to 4.4 million MT and production yield improving 7%to 21.0 MT per hectare in FY2022.OPERATIONS REVIEWOil palm plantation in Sabah,Malaysia.Although sales volume for sugar milling operations decreased by 2%to 3.2 million MT in FY2022,revenue for the business increased by 7%to
185、US$1.30 billion as a result of higher sugar prices.The international sugar price rally as well as our integrated global intelligence and pricing platform enabled us to maximise margins and capture higher sugar prices and record Far-East premium.Outlook&StrategyPalm oil production for the industry is
186、 expected to be impacted in 2023 due to a reduction in fertiliser application as a result of high fertiliser prices in recent years.With demand projected to recover from further easing of Covid-19 restrictions,higher Indonesia palm oil biodiesel blending and lower raw material prices,palm oil prices
187、 are expected to stay elevated.In India,the ethanol programme which is projected to reach 20%blend by 2025 will continue to reduce sucrose availability.As sugar consumption is forecasted to grow,India is expected to have less sugar available for export to the international market.WILMAR INTERNATIONA
188、L LIMITED ANNUAL REPORT 202228The Group developed and launched a range of ready-to-eat and ready-to-cook food products for the Chinese market.Goodman Fielder launched a new range of Meadow Fresh yoghurt for children in New Zealand that was the first in the market to have a 5-star health rating.RESEA
189、RCH AND DEVELOPMENTWilmars research and development(R&D)activities support our business operations by improving manufacturing processes,ensuring the consistency and enhancing the quality of existing products as well as developing new innovative products.Our R&D work is carried out by around 500 scie
190、ntists and researchers,of which 80 hold doctorate qualifications.The R&D teams are based in various locations worldwide,including Singapore,China,Indonesia,India,Malaysia,Australia and New Zealand.In line with the Groups integrated and sustainable growth plan,our R&D teams engage in cross-border col
191、laborations as well as with external organisations to share knowledge and resources to enhance our collective R&D effort.We were granted 79 patents in 2022 and a total of 371 patents to date.In 2022,our R&D teams focused on the following areas:Identifying food ingredients and food components capable
192、 of contributing to nutritionally balanced diets as well as aid in healthy ageing.These efforts have translated into new,innovative and healthier food products including plant-based products,ready-to-cook and ready-to-eat products that have been successfully launched in some of our key markets.Devel
193、opment of efficient and cost-effective,bio-based methods of producing industrial enzymes and biochemicals.These developments provide environmentally sustainable solutions to our food processing industry and oleochemical production.Sustainable packaging-Transitioned to 100%recycled polyethylene terep
194、hthalate(PET)material for Praise dressings(Australia)and All Puhoi Valley(New Zealand)fresh and flavoured milk.WILMAR IN INDIA29INFORMATION TECHNOLOGYIn 2022,we continue to see the digital world being engulfed by data and emerging technologies that enable robust and agile business expansion as well
195、as speed to scale.Our Information Technology(IT)team is responsible for the implementation of a well-integrated digital IT strategy to make the Groups digital transformation a success and to support our business growth plans globally.ENHANCING SALES EFFECTIVENESS As customers become more sophisticat
196、ed and demanding,we are enhancing and integrating our ordering,logistics and payment solutions to provide more visibility throughout the sales cycle and find opportunities to continuously optimise our cost to serve different customer segments.Our sales teams are equipped and trained with technology
197、tools and data to conduct sales more effectively,create new apps to engage end-consumers and support community group buy initiatives in China,Vietnam and rural India.BUILDING AND PROMOTING A DATA-DRIVEN CULTUREWe continue to develop and strengthen our infrastructure and data governance to provide th
198、e right data access and data visualisation tools to our employees as we recognise the importance of data and how it can be used to derive insights and drive important business decisions at all levels of the Group.In India,we can tap on a wide talent pool of data science resources to develop an insig
199、hts team to focus on advanced analytics initiatives,applying artificial intelligence(AI)/machine learning models and algorithms to our datasets to generate actionable insights for the business.LEVERAGING TECHNOLOGY TO ACHIEVE ESG GOALS Wilmar continues to leverage technology solutions to achieve our
200、 Environmental,Social and Governance(ESG)commitment to making a meaningful difference in the way our businesses operate and create sustained value while continuing to grow.We use satellite imagery,internet of things(IOT),analytics and AI solutions to improve visibility into our sourcing and supply c
201、hain.Digital workspace collaboration and communication tools along with the adoption of digital signatures continue to gain traction post-pandemic,reducing our carbon footprint.We also apply the same ESG standards in assessing potential technology partners and evaluating their environmental impact d
202、uring every stage of implementation.GLOBAL TALENT POOL TRANSFORMATION&SOURCINGWith the increased role of technology in Wilmars global operations,having skilled IT talent to build and maintain our digital applications and infrastructure is important.In addition to collaborating with our technology pa
203、rtners for long-term sustainability,we increased our investment to develop and retain in-house technology delivery capabilities in Indonesia and Vietnam and identify new talent pools in India.Good talents are offered opportunities to be re-deployed to other countries to help replicate and accelerate
204、 the successful digital transformation initiatives locally.PARTNERSHIP AND COLLECTIVE SECURITY With increased cyber threats,the Group has deployed various technologies to protect the confidentiality,integrity and availability of our cyber assets.In addition to using industry leading cybersecurity fr
205、amework to periodically evaluate and improve our cyber programmes,security controls,security awareness trainings and technical capabilities,we share and leverage information amongst our collective network of partnerships and joint ventures to further combat the constant and evolving cyber threats.Re
206、ferencing published local guidelines and modelled after industry leading practices,the Group utilises scalable and standardised processes to collectively manage cyber threats.This unified defence helps the Group be more proactive,improves our overall cybersecurity maturity and increases our cyber re
207、silience.WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 202230INVESTOR RELATIONSOur commitment to building long-term relationships and maintaining fair and open communication with our stakeholders in the financial community remains a top priority.We use multiple channels to assist existing and potential
208、 investors make accurate and informed investment decisions by providing information on the Groups strategy and regular updates on business operations and developments.HYBRID STAKEHOLDER ENGAGEMENTWith further easing of Covid-19 measures globally,we remain flexible in our engagement strategies.Whilst
209、 we have partially resumed in-person meetings and conferences,we continue to leverage digital technologies such as video conferencing systems to allow global investors who are still unable to travel,to meet with the management team online.In 2022,the Investor Relations(IR)team engaged with more than
210、 110 investors via various platforms such as one-on-one and group video and teleconferences,virtual and in-person investor conferences,post results calls,analyst meetings and results briefings.Although the Group shifted to half-yearly reporting in 2020,we continue to provide quarterly executive summ
211、aries and hold quarterly analyst briefings to keep stakeholders updated on our performance and strategies.These meetings provide a forum for the investment community to have conversations with Senior Management about the Groups strategic direction,industry trends,sustainability topics and financial
212、performance.Any additional queries are also addressed via e-mails or phone calls in a timely and accurate manner.We held our first hybrid Annual General Meeting(AGM)on 21 April 2022 in our new global headquarters.Shareholders could choose to attend the AGM either in person or virtually.Shareholders
213、could also submit questions relating to the resolutions and to which we provided public responses in advance of the AGM.Our Chief Financial Officer presented our financial performance,environmental,social and governance(ESG)initiatives as well as business developments across the Group in the past ye
214、ar.The Board of Directors and Senior Management were in attendance to address any queries and concerns raised by shareholders.Shareholders were given the opportunity to ask their questions“live”during the AGM before submitting their votes electronically.Our efforts to reach out to the retail investi
215、ng community also include a long-term sponsorship of the Securities Investors Association(Singapore)(SIAS).This sponsorship helps to support a wide variety of programmes such as investor education,corporate actions and membership drive.We continue to build on our relationships with sell-side researc
216、h analysts and have 15 analysts providing regular coverage on Wilmar.IR RESOURCESThe IR website is a key resource for corporate and stock information,financial data,policies,financial results,annual reports and significant business developments.All disclosures submitted to the Singapore Exchange(SGX
217、)are uploaded to the Investors&Media section of the Groups corporate website(http:/ir-media.wilmar-)in a timely and consistent manner.Members of the investment community can also subscribe to our e-mail alerts and request for information through the website.SUSTAINABLE INVESTINGESG topics and dedica
218、ted sustainable investment strategies remain a key focus amongst the investment community as we saw more requests for ESG-focused meetings during the year.The IR team works together with the Groups Sustainability team to update stakeholders through meetings and proactive e-mails on our sustainabilit
219、y progress.Resource materials such as sustainability briefs on various programmes,the annual sustainability report as well as important updates on sustainability-related matters are made available on the Groups Sustainability Dashboard(http:/www.wilmar- first hybrid AGM was held on 21 April 2022 in
220、our new global headquarters.WILMAR IN INDIA31INVESTOR RELATIONSRegular engagement with proxy advisory service providers as well as ESG rating agencies enable us to better understand their voting requirements and promptly verify the accuracy of data reported on their platforms.In January 2022,we were
221、 upgraded from a BBB to an A rating for our ESG performance in the 2021 assessment by Morgan Stanley Capital International(MSCI).In July 2022,we held our fifth sustainability event,which was well-received by over 80 bankers,portfolio managers and analysts based in Malaysia and Singapore.During the e
222、vent,various sustainability team members presented updates on the Groups various sustainability initiatives,including our progress on traceability,No Deforestation,No Peat and No Exploitation(NDPE)implementation reporting framework,no exploitation implementation process,smallholders empowerment init
223、iatives,Roundtable on Sustainable Palm Oil certification,conservation work and our No Deforestation and No People Exploitation Sugar programme.A short video on the highlights of our Sustainability Report 2021 was also shown during the session to allow the audience to gain key insights on the detaile
224、d report.Participants were given an opportunity to interact with the team directly through a question-and-answer session at the end of the presentation.As we reaffirm our commitment to driving positive change in our industry,we also recognise the need for higher standards in reporting,transparency a
225、nd accountability to our stakeholders.In 2022,we were again ranked top in the assessment by the Sustainable Palm Oil Transparency Toolkit(SPOTT)as well as the Global Child Forum.We also retained our position in the FTSE4Good and Dow Jones Sustainability World and Asia Pacific Indices and achieved se
226、cond placing globally in the Corporate Human Rights Benchmark.Investor CalendarFebruary FY2021 Results BriefingMarch UOB Virtual ASEAN Conference 2022 25th Credit Suisse Asian Investment ConferenceApril Annual General Meeting 1QFY2022 Analyst Meeting May UBS Post Results MeetingJuly Wilmar Sustainab
227、ility Update August 1HFY2022 Results Briefing September CGS-CIMB Investor Update CITIC CLSA 29th Annual Flagship Investors Forum October 3QFY2022 Analyst MeetingNovember Morgan Stanley Asia Pacific SummitENHANCING SHAREHOLDER VALUEOur investment in key areas such as central kitchens,consumer product
228、s,rice and flour businesses will continue to enhance long-term shareholder value.The Groups resilient integrated business model has proven to be effective amidst macroeconomic uncertainty and fluctuations in commodity prices in recent years as we posted another year of record net profit of US$2.40 b
229、illion for FY2022.In FY2022,we bought back about S$278 million of Wilmar shares,the second highest buyback consideration on the Singapore Exchange during the year.We are proposing a total cash dividend of 17.0 Singapore cents per share for the year,representing around 33%of the Groups net profit in
230、2022 and the highest ordinary cash dividend since the Groups listing on SGX in 2006.We held our first in-person sustainability event since the outbreak of Covid-19,which was well-received by over 80 bankers,portfolio managers and analysts.WILMAR INTERNATIONAL LIMITED ANNUAL REPORT 202232HUMAN CAPITA
231、L MANAGEMENTQ:What made you apply to the GET programme?A:AWLs GET programme allows trainees to learn about different functions in the company.This enables us to gain a good understanding of the various operational aspects of a production plant,before we become more specialised.Being fresh out from s
232、chool,this is an exciting learning opportunity that textbooks cannot offer.Q:What did you enjoy most about the GET Programme?A:As part of the induction process,we participated in team bonding activities that were not only fun but also imparted the corporate values of AWL.These activities fostered gr
233、eat camaraderie and I am encouraged that the spirit of teamwork will continue into the workplace.Q:How did the programme improve your skills and knowledge?A:The GET programme allows me to put my theoretical knowledge into practice and helps to lay the foundation for my career by strengthening my cor
234、e technical concepts.The trainers also encourage critical thinking instead of just providing solutions.Most importantly,I got to see how different departments collaborate and support one another.Q:How will you apply what you have learnt from the programme to your professional career?A:The programme
235、is very detailed and engaging.Having a deeper understanding of each department and interacting with the supervisors help us to better understand the entire manufacturing process and enables us to analyse from different viewpoints and make better decisions.Q:What do you love about working in AWL so f
236、ar?Would you recommend your university juniors to join us after their graduation?A:I really love the encouraging and helpful nature of everyone at AWL.The management is flexible,embraces innovation and focuses on the safety of employees.It is a great place to work and I will highly encourage my juni
237、ors to join the programme.With more than 100,000 employees globally,Wilmar believes that nurturing our human capital is key to succeeding in an environment that is increasingly competitive and challenging.People are our most valuable asset and we recognise the need to identify and continuously devel
238、op our own talent pool.We continue to accelerate our talent development programmes to ensure that our employees can reach their fullest potential.We also want to be a workplace where employees have a strong sense of belonging and are motivated to go the extra mile to contribute to the Groups growth.
239、NURTURING NEW TALENTSIn India,Adani Wilmar Limited(AWL)invests in its knowledge capital to drive growth,competitiveness and performance across market cycles in the food fast-moving consumer goods industry.It is actively building a talent pipeline to address the demands of rapidly evolving market dyn
240、amics.Its learning and development initiatives are based on business needs and individual aspirations,an example of which is the Graduate Engineer Trainees(GET)programme.The GET programme aims to train employees recruited from reputed engineering institutes across India.The training programme ensure
241、s that every batch of trainees gain experience and exposure in AWLs different manufacturing plants across India.AWL is a Great Place to Work-CertifiedTM organisation.The certification,awarded by the Great Place to Work Institute India,is considered the Gold Standard in identifying and recognising Gr
242、eat Workplace Cultures by excelling in the five dimensions of a High-Trust,High-Performance Culture Credibility,Respect,Fairness,Pride and Camaraderie.KNOWLEDGE SHARING Sharing knowledge not only cultivates a learning culture,but also improves employee engagement.Having access to insights,resources
243、and expertise enables employees to be more productive and effective.In November 2022,Wilmar Africa in Ghana sent its first Quality Assurance/Quality Control supervisory team to AWL,to learn and adopt some of the good technical and work practices from its laboratories.The training plan is customised
244、to each product category to ensure that the new knowledge is relevant and applicable back home.Concurrently,this is a platform to raise and align technical standards across the Group.The training programme was well-received by all participants who found it a very fruitful and enriching learning expe
245、rience.The next programme is scheduled for February 2023.Ms Suramya Gautham joined AWL in August 2022 upon graduating from Govind Ballabh Pant University of Agriculture&Technology.She was a participant of the Graduate Engineer Trainees(GET)programme and shares her experience in the GET programme.Ms
246、Suramya GauthamWILMAR IN INDIA33AWARDS&ACCOLADESCORPORATE AWARDSWilmar International LimitedFortune Global 500,ranked 192ndFortune MagazineForbes Global 2000:The Worlds Biggest Public Companies,ranked 362ndForbesTop 100 Singapore Brands,ranked 19thBrandFinanceRanked 34th out of 489 companies on the
247、Singapore Governance and Transparency Index The Business Times and the Centre for Governance,Institutions and OrganisationsInclusion in the 2021 ASEAN Corporate Governance Scorecard,ASEAN Asset Class Institute of Corporate Directors Philippines,Singapore Institute of Directors and Centre for Governa
248、nce and Sustainability,National University of SingaporeFastest Growing Company in Food&Beverages +Food&Drug Retailing SectorThe Edge Singapore Billion Dollar ClubBangladeshBangladesh Edible Oil Limited Great Place to Work Certification Great Place to Work InstituteChina益海嘉里金龙鱼粮油食品股份有限公司 Yihai Kerry
249、Arawana Holdings Co.,Ltd.2022上海企业100强第11位 上海市企业联合会、上海市企业家协会、上海市经济团体 联合会 2022上海制造业企业100强第3位上海市企业联合会、上海市企业家协会、上海市经济团体 联合会 2022年度品牌卓越企业和讯网和巨浪视线联合主办的2022年财经中国年会暨 第20届中国财经风云榜 2022年度“安心奖”-年度粮油品牌上海报业集团/界面新闻年度食用油品牌上海报业集团/界面新闻 中国粮油最具影响力企业粮油市场报 2022年上海市五一劳动奖状上海市总工会南海油脂工业(赤湾)有限公司 Southseas Oils&Fats Industrial
250、 Chiwan Ltd 2022年广东企业500强广东省企业联合会 深圳市农业龙头企业深圳市市场监督管理局 益海(连云港)粮油工业有限公司 Yihai(Lianyungang)Grains&Oils Industries Co.,Ltd.2022中国农业企业500强农民日报社、全国农业企业发展联盟 江苏植物油加工优强企业江苏省粮食行业协会丰益(上海)生物技术研发中心有限公司 Wilmar(Shanghai)Biotechnology Research&Development Center Co.,Ltd 2022年度中国粮油学会科学技术奖特等奖中国粮油学会益海嘉里(昆明)食品工业有限公司 Yi
251、hai Kerry(Kunming)Food Industry Co.Ltd.云南省级非公企业100强企业云南省工商业联合会 2022年云南省工业质量标杆云南省工业和信息化厅GhanaWilmar Africa Limited Agro-processing Company of the Year Ghana Manufacturing Awards Marketing Campaign of the Year Frytol Healthy Heart Campaign Ghana Manufacturing Awards Agro-based Company of the Year Char
252、tered Institute of Marketing,Ghana Ranked 25th at the 19th Edition of the Ghana Club 100 Awards Ghana Club 100African Consumer Products Ghana Limited Detergent Manufacturing Company of the Year Ghana Manufacturing AwardsIndiaAdani Wilmar Limited Warehouse&Supply Chain Leadership Award 2022-Best Use
253、of Technology in Logistics Krypton Best Agri Tech Company Award Dainik Jagran Group at the 2nd Naya Bharat Business Conclave&Awards Emerging Company of the Year Award Dainik Jagran Group at the 2nd Naya Bharat Business Conclave&AwardsWILMAR INTERNATIONAL LIMITED ANNUAL REPORT 202234IndonesiaPT Wilma
254、r Nabati Indonesia SNI Award Gold Category(Palm Cooking Oil)Indonesian National Standardisation Agency Subroto Award 2022(The Best Biofuel Producer and Distributor in Indonesia)Ministry of Energy and Mineral ResourcesIvory CoastSania Cie Ivorian Industry Excellence Award 2022 Ministry of Trade and I
255、ndustryUgandaBidco Uganda Ltd 2022 Best Visionary Manufacturing Company of the Year Visionaries of Uganda Awards Platinum Quality Excellence Award for Best Manufacturer of Edible Oils and Detergents,Most Preferred Consumer Brands and the Leading Manufacturer of FMCG in East Africa East Africa Brand
256、Quality AwardsVietnamCai Lan Oils&Fats Industries Company Ltd Top 10 Food Reputation Award Vietnam Report in collaboration with Vietnamnet Newspaper Vietnamese High Quality Goods Award Business Research Centers and Business SupportVinh Phat Wilmar Rice Corporation Certificate of Merit,Vietnam High Q
257、uality Goods Business Research Centers and Business SupportZimbabweSurface Wilmar SMES Choice Best Supplier Confederation of Zimbabwe RetailersSUSTAINABILITY AWARDSSingapore Ranked 1st globally in the 2022 Palm Oil Benchmark Sustainability Policy Transparency Toolkit(SPOTT)by Zoological Society of L
258、ondon(ZSL)Ranked 1st globally in the 2022 Food,Beverage and Personal Care Benchmark Global Child Forum Ranked 2nd globally in the 2022 Corporate Human Rights Benchmark(CHRB)World Benchmarking Alliance Maintained inclusion in the Dow Jones Sustainability Indices(DJSI)World and Asia Pacific Index Reta
259、ined inclusion in the FTSE4Good Developed and ASEAN 5 Index Received an A rating in the Morgan Stanley Capital International(MSCI)reportChina益海嘉里金龙鱼粮油食品股份有限公司 Yihai Kerry Arawana Holdings Co.,Ltd.国证ESG评价AAA级 深圳证券信息有限公司 ESG评价BBB级 MSCI(摩根士丹利资本国际公司)ESG先锋奖 财联社 2022年度ESG卓越企业 和讯网和巨浪视线联合主办的2022年财经中国年会暨 第20
260、届中国财经风云榜 2022年度ESG优秀企业奖 华夏时报社 2022企业社会责任公益榜样 北京商报 首届“上海市慈善奖”-捐赠企业奖 上海市人民政府益海(泰州)粮油工业有限公司 Yihai(Tai Zhou)Oils&Grains Industries Co Ltd 2022年度绿色发展领军企业 江苏省生态环境厅、江苏省工商业联合会益海嘉里(张家口)食品工业有限公司 Yihai Kerry(Zhangjiakou)Foodstuffs Industries Co.,Ltd.首届“河北慈善奖”河北省民政厅、河北省人力资源和社会保障厅IndiaAdani Wilmar Limited CSR Pr
261、oject of the Year to Fortune SuPoshan at the 8th CSR Impact Awards CSRBOX,supported by Dalmia Bharat Foundation Social Impact Award(Health&Sanitation Category)CSR UniverseIndonesiaPT Jawa Manis Rafinasi Prevention and Management of Covid-19 in the Workplace Local Government Banten Province Zero Work
262、 Accidents Local Government Banten ProvincePT Duta Sugar International Prevention and Management of Covid-19 in the Workplace Local Government Banten Province Zero Work Accidents Local Government Banten ProvinceVietnamMeizan CLV Corporation Letter of Appreciation for the collaboration in organising
263、training courses in the Tourism Professional Training Management System Ministry of Tourism of CambodiaWILMAR IN INDIA35AWARDS&ACCOLADESAWARDS&ACCOLADESCONSUMER PRODUCT AWARDS BrandAwardBangladeshRupchanda The Most Loved Brand(Edible Oil)Bangladesh Brand ForumChina金龙鱼 中国粮油最具影响力品牌粮油市场报 年度消费口碑品牌深圳商务局与
264、南方都市报 2022中国食品饮料业上市公司品牌价值榜TOP50排名第三每日经济新闻与中企万博(集团)公司 2022国民消费影响力品牌人民网主办的2022国民消费大会金龙鱼食用油 中国品牌力指数SM(C-BPI)食用油品牌排行榜榜首中国品牌评级与品牌顾问机构Chnbrand金龙鱼大米 中国品牌力指数SM(C-BPI)大米品牌排行榜榜首中国品牌评级与品牌顾问机构ChnbrandGhanaFrytol Food Brand of the Year National FMCG Awards 2022 Product of the Year(Manufacturing)Chartered Institu
265、te of Marketing,GhanaAlife Emerging Brand of the Year Chartered Institute of Marketing,GhanaIndiaFortune Brand of the Year Team Marksmen Customer Favourite Brand BlinkitFortune Xpert Total Balance Oil Product Launch of the Year Channelier FMCG Awards 2022IndonesiaSania Superbrands Indonesia 2022(Coo
266、king Oil Category)Superbrands in collaboration with Nielsen Sania(Flour&Rice),Marketing Award,Best Marketing Campaign Majalah MarketingBrandAwardIndonesiaSania WOW Brand 2022,Bronze Champion(Cooking Oil Category)MarkPlus,Inc.Top Brand Award 2022 in Recognition of Outstanding Achievement in Building
267、the Top Brand(Cooking Oil&Rice Category)Frontier Consulting Group and Majalah Marketing Top Social Media Award 2022 (Sania Rice)Majalah MarketingFortune Fortune Cooking Oil,Marketing Award,Best Marketing Campaign Majalah MarketingNigeriaDevon Kings Most Trusted Cooking Oil in Nigeria 2022 Brand Heal
268、th Most Iconic Cooking Oil Brand of the Year 2022 Brand CommunicatorMamador Most Outstanding Cooking Oil Brand of the Year Award Women in Marketing and Communications Conference Awards 2022 Most Outstanding Cooking Oil Brand in Consumers Engagement Brand CommunicatorUgandaWhite Star Laundry Bar Best
269、 Laundry Soap Peoples Choice Quality AwardsMagic Detergent Best Detergent Peoples Choice Quality AwardsFortune Butto Best Oil Peoples Choice Quality AwardsVietnamSimply Top 10 Most Chosen Packaged Food Brands by Consumer Reach Points Brand Footprint ReportZimbabweButtercup Margarine Winner(Spreads C
270、ategory)MAZ SuperbrandsPuredrop 1st Runner-up(Cooking Oil Category)MAZ SuperbrandsOlivine Cooking Oil 2nd Runner-up(Cooking Oil Category)MAZ SuperbrandsWILMAR INTERNATIONAL LIMITED ANNUAL REPORT 202236OUR APPROACH TO SUSTAINABILITYAs a global leading agribusiness group with a presence across the val
271、ue chain,Wilmar is in a strategic position to leverage our resources and expertise to create a positive impact for our stakeholders.We are committed to providing responsible and sustainable food,animal feeds and agri-products that safeguard the well-being of both people and our planet.The foundation
272、 of our sustainability commitments is built on four main pillars which set a clear direction in the development of our strategies to boost performance across all business segments:Protecting the environment Looking after people and communities Delivering product excellence Transforming our supply ch
273、ainOur No Deforestation,No Peat,No Exploitation(NDPE)Policy is the crux of our global operations and our supply chain.Other sustainability-related policies and framework which encompass the environment,human and labour rights,health and safety,equal opportunities,women empowerment,child protection a
274、nd food safety further strengthen the NDPE Policy.In 2021,Wilmar introduced our No Deforestation and No People Exploitation Sugar Policy built around a firm commitment to work in partnership with our buyers and suppliers to improve sugarcane production for both people and the environment.We are work
275、ing progressively to implement this Policy through the various actors in our supply chain to drive lasting improvements in sustainability.All of the Groups policies and frameworks are available and accessible on our Sustainability Dashboard(https:/www.wilmar- AND CONSERVATIONProtecting Conservation
276、AreasAs an extension of our overarching NDPE Policy,Wilmar is committed to biodiversity conservation in our operations and supply chain.Our proactive approach to environmental protection is guided by two main objectives:To manage,maintain and sustain biodiversity and ecological functions existing wi
277、thin conservation areas in Wilmar-owned operations and across the wider landscapes where we operate To strive to provide technical guidance and support to our stakeholders,including our suppliers,to enable the mainstreaming of biodiversity conservation in the plantation landscapeRemaining steadfast
278、in our commitment to No Deforestation and No Peat across our entire palm supply chain,we have maintained our total Group-wide conservation areas at more than 32,000 hectares.Our focus is to increase yields and extraction rates to meet production demand without any further land clearing.SUSTAINABILIT
279、YPROTECTING THE ENVIRONMENTBeing an industry leader,Wilmar believes in leading by example and demonstrates this by being an early adopter of identifying High Conservation Value(HCV)areas and establishing these areas as protected zones.Wilmars riparian zone in Bukit Durang,Sarawak,Malaysia.WILMAR IN
280、INDIA37Our conservation areas are maintained based on evaluations conducted to date for our palm oil operations where all identified HCV and High Conservation Stock(HCS)areas are monitored.A dedicated conservation team consisting of qualified High Conservation Stock Approach(HCSA)practitioners and l
281、icensed HCV-HCSA assessors carry out the evaluations.We also work closely with local communities,civil society organisations,governments and suppliers to ensure the effective management and conservation of our operations and the surrounding landscapes.Similarly for our sugar operations,we require al
282、l sugarcane farm development activities to demonstrate that they do not involve HCV areas or areas that are legally protected internationally or nationally.Protecting PeatlandsPeatlands play a crucial role in climate change mitigation as it stores more carbon than all other forms of vegetation combi
283、ned.Peatlands pose a fire risk if drained or exposed to dry weather as they are carbon-rich.Since implementing our NDPE Policy,we have prohibited any new development on peatlands,regardless of depth.We also collaborate with experts and local people to research solutions for peat restoration as we re
284、cognise the opportunities and benefits these areas provide,including reducing greenhouse gas(GHG)emissions.We apply best management practices as defined by peat experts and the Roundtable on Sustainable Palm Oil(RSPO)in the 1%of our total planted palm area that is classified as peat.An example is ma
285、intaining water tables at optimal levels to minimise peat subsidence and the release of carbon dioxide.We also participate in and contribute to knowledge-sharing platforms and multi-stakeholder initiatives such as the Tropical Forest Alliance as well as peatland conservation efforts and targets by t
286、he Indonesian Peatland Restoration Agency(Badan Restorasi Gambut).Fire Prevention,Monitoring and SuppressionSince 2020,we have been utilising an integrated fire monitoring platform that automatically downloads and sends hotspot data to our field managers via a web-based instant messaging application
287、.The platform was developed internally by our geographic information system team and the programme has been extended beyond Indonesia to Ghana,Malaysia and Nigeria since 2021.This is in addition to the daily on-ground fire monitoring system.We also continue to work closely with the RSPO in sharing f
288、ire-related data and verifying hotspot notifications through the RSPO Hotspot Monitoring Programme.Our response teams are immediately dispatched to extinguish fires if there are confirmed incidences.CLIMATE CHANGE Climate change poses a risk to our planet,including livelihoods,food production and se
289、curity.As we work on identifying opportunities to strengthen our business resilience,we are also setting up to mitigate the impacts of climate change.We are committed to progressively reduce greenhouse gas(GHG)emissions from our operations while supporting global efforts to mitigate the impacts of c
290、limate change.All our business segments are focused on reducing GHG emissions through various initiatives.Following our commitment to develop a sectoral roadmap for enhanced supply chain action consistent with a 1.5C pathway,we worked closely with our peers and completed the roadmap in September 202
291、2.We signed up to the Science Based Targets initiative(SBTi)and are committed to both near-term and net-zero emission targets.We are developing timebound plans over the next 24 months to outline our strategy and approach to achieving our comprehensive targets that are consistent with a 1.5C pathway
292、aligned with SBTi.We have established our Scope 1 and 2 baselines and implemented measures to reduce these emissions,primarily through investments in operational efficiency and renewable energy.We have also completed the mapping of the Groups Scope 3 emissions for our target baseline year,which will
293、 be disclosed in our Sustainability Report 2022.In addition,we are building a more resilient business by continuing to act proactively on the evolving risks and opportunities relevant to our business and key stakeholders.Fire management and response team undergoing training in Indonesia.SUSTAINABILI
294、TYWILMAR INTERNATIONAL LIMITED ANNUAL REPORT 202238To reduce water consumption in our oil palm plantations,we adopt a lifecycle approach in the design and operation of our mills.We also implement water efficiency measures such as rainwater collection and wash water recycling in water-intensive mills
295、,nursery irrigation and household use.We also implement comprehensive procedures to protect the quality of discharged water.We identify priority substances of concern in the water discharges and regularly monitor and report our progress in reducing significant pollutants.We adhere to all discharge l
296、imits specified in the local regulations of the countries we operate in.Where possible,we adopt the principles of a circular economy model and are committed to reducing the amount of waste generated.All the waste produced in our upstream palm activities is recovered and reused where organic waste in
297、cluding EFB,mesocarp fibre and palm kernel shells are used as fuel or organic fertiliser.Similarly,our sugar milling operations use cane bagasse as fuel for our boilers while other by-products such as press mud,ash,sludge and yeast sludge are used for soil enhancement purposes.We also apply the wast
298、e management hierarchy in our factory operations to minimise waste channeled to landfills.Where possible,our factory production processes are modified to maximise recovery of waste generated and to reduce waste channeled to landfills.SUSTAINABLE PACKAGINGWe work closely with our research and develop
299、ment(R&D)teams as well as the wider industry to develop packaging solutions using the least number of materials and maximising packaging that can be reused or recycled by end-users.This goes towards minimising the impact of packaging waste,particularly plastic waste,while prioritising food safety an
300、d quality,lengthening shelf life and reducing food waste.We also look into improving the sourcing requirements of the materials we procure to ensure that they are from sustainable sources.Since completing our baseline packaging data in 2020 which identified the key plastic materials used and their m
301、aterial efficiencies,the data has been used to drive our efforts on reducing the amount of packaging material needed with a focus on these materials in countries where material efficiency is low.ENVIRONMENTAL FOOTPRINT OF OUR OPERATIONS As we rely on various resources including water and energy for
302、our business to operate,we acknowledge the crucial role we play in minimising the environmental footprint in our business operations.We support sustainable production by implementing efficient measures to reduce the use of resources.Our commitment to minimising the environmental footprint of our ope
303、rations is mapped out in our Environmental Policy.We reuse,recover and recycle waste while making efforts to manage waste,effluents and chemicals responsibly.We fully adhere to all environmental laws and regulations in the countries where we operate.The renewable energy in our palm oil and sugar ups
304、tream operations is mostly generated from biomass which is derived from our operational waste.The primary energy sources in our palm oil mills are the by-products of the milling process like empty fruit bunches(EFB),kernel shells and mill fibre.In our sugar milling operations in Australia and India,
305、cane bagasse is the main source of fuel powering our mills.In Australia,we are one of the largest producers of renewable biomass energy.We adopt different technologies in our factories to reduce our energy consumption,improve energy efficiency and reduce reliance on non-renewable energy sources,incl
306、uding steam condensate recovery,waste heat recovery of exhaust gas,steam residual pressure power generation and rooftop solar.These initiatives also result in significant GHG emissions reduction.The Sumatran surili(Presbytis melalophos)found in Wilmars conservation site in Indonesia.WILMAR IN INDIA3
307、9HUMAN RIGHTS AND LABOUR STANDARDSWilmar is committed to respecting human rights as defined in the United Nations(UN)Declaration of Human Rights and the International Labour Organisation(ILO)Core Conventions on Labour as well as to implementing the UN Guiding Principles on Business and Human Rights.
308、As a signatory of the UN Global Compact,our objective is to ensure that this applies to all parties or individuals throughout our value chain.We also adhere to local,national and ratified international laws,and where legal frameworks are not yet in place,we commit to international best practices as
309、well as Wilmar policies.Human Rights Policies and FrameworksWe launched our first Group-level Human Rights Defender Policy in 2021 with input from key human rights experts.This came on the heels of our Human Rights Framework established in 2019 in reference to the Organisation for Economic Co-operat
310、ion and Development(OECD)guidelines.The Framework provides detailed instructions on the practical implementation of all principles,such as due diligence mechanisms for identifying,preventing,mitigating and accounting for our impacts on human rights,including remediating any adverse impacts.The Frame
311、work also outlines several procedures and policies including Wilmars NDPE Policy,Human Rights Policy,Whistleblowing Policy,Grievance Procedure and No Exploitation Protocol.To keep abreast with the latest developments,we work closely with human rights experts and civil societies which also allows us
312、to seek feedback on our approach and progress.In addition,we actively engage in partnerships and various multi-stakeholder platforms that advocate human rights.We have been collaborating with our technical partner and expert,Verit an independent non-profit organisation working to strengthen labour r
313、ights in supply chains.Verit has been helping us to better understand our systemic labour and human rights risks,the possible root causes of child labour,the link between work and pay practices as well as emerging labour issues.In the 2022 Corporate Human Rights Benchmark(CHRB),we ranked first in th
314、e East Asia and Pacific region and second globally out of 127 companies.Living WageWilmar is committed to assessing and ensuring that our employees,contractors and suppliers are paid a living wage.We have assessed 100%of our employees and contractors to ensure that they are paid a living wage.We sim
315、ilarly assess that our palm suppliers pay their workers and contractors a living wage via our Supplier Reporting Tool.Our assessments are based on available living wage frameworks for the countries we operate in,including the Global Living Wage Coalition,Wage Indicator Foundation,Massachusetts Insti
316、tute of Technology Living Wage Calculator and the RSPO Living Wage Benchmark.Wilmar has been a co-chair of the RSPO Living Wage Task Force(LW TF)since 2021.Our work with the LW TF involves developing living wage benchmarks with stakeholders for the different regions in which RSPO operates.This work
317、builds on the RSPO Guidance for Implementing a Living Wage published in 2020 to which Wilmar has provided significant input.Through this initiative,RSPO and its members strive to ensure the payment of a living wage for workers and their families.In countries without furnished data on what is conside
318、red a living wage,we ensure our workers receive at least the minimum wage and access to benefits such as non-mandatory savings schemes,free childcare and free transport.For employees who work on-site in remote areas,housing,facilities and benefits are provided.LOOKING AFTER PEOPLE AND COMMUNITIES As
319、 a multinational organisation with a global footprint and a workforce comprising different nationalities and cultural backgrounds,we are committed to upholding the human rights and labour standards of our workers and local communities in support of the universal acknowledgement of each persons inher
320、ent dignity.SUSTAINABILITYWILMAR INTERNATIONAL LIMITED ANNUAL REPORT 202240Recruitment of WorkersTo prevent human trafficking and forced labour in our palm oil operations in Malaysia and Indonesia,our workers are recruited directly and we bear all recruitment fees and related costs.This mitigates th
321、e common problems of contract misrepresentation and debt bondage arising from excessive recruitment fees charged by agents when hiring foreign workers in the agricultural sector.In instances where recruitment agencies are used,it is only to support the documentation processes.The use of contracted a
322、gents in Ghana and Nigeria is only for logistical and administrative purposes.We handle salaries and remuneration directly with our workers to prevent risks of exploitation.Protecting Childrens Rights in our Supply ChainChild labour,exploitation and abuse of any form are not tolerated and we are com
323、mitted to protecting and safeguarding the rights of children throughout our operations.We pay closer attention to our palm oil upstream operations where the risk of child labour is highest.In 2017,we published our Child Protection Policy which outlines our commitment to protecting the rights of chil
324、dren in our plantations as well as within our suppliers and contractors operations.We have been conducting annual child safety assessments for our upstream palm operations in Indonesia and Malaysia since 2018 and have expanded this to our operations in Africa in 2020.An internal team,independent of
325、the plantation reporting structure,carries out these assessments to understand if there are potential risks to children and recurring issues,and to record programmes or interventions in place to improve overall child safety.In collaboration with our plantation Womens Working Groups(WoW),we also stud
326、ied health records in our plantation clinics to understand and identify any potential blind spots related to the health of mothers,infants and children.Wilmar developed a Child Protection and Safeguarding Implementation Manual in collaboration with Business for Social Responsibility(BSR)and consumer
327、 companies including Nestl,Colgate-Palmolive,PepsiCo,Neste and Procter&Gamble.It serves as a comprehensive guide to understanding the universal rights and protection of children and how this applies to the wider agricultural industry.In Malaysia and Indonesia,we have progressed to the next phase to
328、test the practical application of the Manual.The findings from the assessment will be shared with our supplier base in both countries.We have also developed the Children in Plantation Directory in collaboration with Earthworm Foundation,ADM,Avon and Nestl to guide the private sector in improving the
329、 health,safety and education of children living on or near plantations in Malaysia.The directory of social services is the first of its kind in the country and contains four priority areas-education,community engagement,birth registration and child protection-related services for children and youth
330、living in the rural areas of Sabah,Malaysia.We are working with BSR to develop a similar handbook in Indonesia.We provide free and quality education for children living in our plantation operations as we believe that education is the key to eradicating poverty and improving lives.Wilmar also operate
331、s crches across our plantations globally to care for younger children.In 2022,Wilmar was recognised by the Global Child Forum,a Swedish non-profit foundation,as the best-performing company in the Food,Beverage and Personal Care benchmark and emerged number one globally among a total of 310 of the wo
332、rlds most influential companies that were assessed.Class in session in Wilmars Community Learning Centre in Sawarak,Malaysia.WILMAR IN INDIA41EMPLOYEE HEALTH,SAFETY AND WELL-BEING It is our highest priority to instil a culture of safety across our entire operations,given that the nature of our busin
333、ess sees our workers undertaking a wide range of different tasks such as harvesting,operating heavy machinery and transporting goods.Any lapses in health and safety protocols will potentially have an adverse impact on our people and operations.Wilmar strives to uphold the fundamental rights of our employees,workers and everyone involved in our operations to safeguard their health and well-being wh