First Resources Ltd. (Singapore) · SGX:EB5

First Resources Ltd. (Singapore) — First Resources — Q3 2011 Earnings Presentation

18 slides from First Resources Ltd. (Singapore)'s earnings presentation, Nov 14, 2011

  1. Slide 1: Nine Months and Third Quarter 2011 Results Presentation

    First Resources Limited Nine Months and Third Quarter 2011 Results Presentation 14 November 2011 | Singapore Delivering Growth and Returns

  2. Slide 2: Table of Contents

    Table of Contents Executive Summary 3 Financial Performance 4 Operational Performance 10 Group Updates 15 2

  3. Slide 3: Executive Summary – 9M2011

    Executive Summary – 9M2011  Strong Financial Performance  EBITDA increased by 47.8% to US$199.6 million  Plantations and Palm Oil Mills segment contributed 92.5% to the Group’s total EBITDA  Net profit grew by 63.3% to US$118.6 million  Aided by higher palm oil prices and higher sales volume 

  4. Slide 4: Financial Performance

    Financial Performance RESOURCES

  5. Slide 5: Income Statement Highlights

    Income Statement Highlights US$’million 9M2011 9M2010 Change 3Q2011 3Q2010 Change Sales 336.4 212.2 58.5% 145.3 88.2 64.8% Cost of sales (102.4) (76.5) 33.9% (47.8) (25.8) 85.7% Gross profit 234.0 135.7 72.4% 97.5 62.4 56.2% EBITDA(1) 199.6 135.1 47.8% 84.0 62.3 34.7% Net profit attributable to 118.

  6. Slide 6: Sales Volume

    Sales Volume Tonnes 9M2011 9M2010 Change 3Q2011 3Q2010 Change Plantations and Palm Oil Mills  Crude Palm Oil 293,135 263,881 11.1% 115,239 108,046 6.7%  Palm Kernel 69,188 58,126 19.0% 27,993 24,928 12.3% Refinery and Processing 88,562 11,000 705.1% 45,865 5,000 817.3%  Increase in sales volume o

  7. Slide 7: Segmental Results

    Segmental Results US$’million 9M2011 9M2010 Change 3Q2011 3Q2010 Change Sales Plantations and Palm Oil Mills 312.1 217.2 43.7% 123.6 91.9 34.5%  Crude Palm Oil 269.8 192.1 40.5% 111.2 79.8 39.3%  Palm Kernel 42.3 25.2 68.2% 12.4 12.0 2.9% Refinery and Processing 109.1 9.0 1,118.8% 57.4 4.4 1,209.9

  8. Slide 8: Segmental Contribution – 9M2011

    Segmental Contribution – 9M2011 Sales EBITDA Refinery and Processing – 25.9% Refinery and Processing – 7.5% Plantations and Palm Oil Mills – 74.1% Plantations and Palm Oil Mills – 92.5%  Group’s refinery, fractionation and biodiesel plants (Refinery and Processing segment) have increased production

  9. Slide 9: Balance Sheet Highlights

    Balance Sheet Highlights US$’million 30 Sep 2011 31 Dec 2010 Total Assets 1,434.4 1,235.1 Cash and bank balances 164.3 209.0 Total Liabilities 553.5 490.2 Interest bearing debts(1) 340.1 305.7 Total Equity 880.9 744.9 Net Debt(2)/Total Equity 0.20x 0.13x Net Debt(2)/EBITDA(3) 0.66x 0.47x EBITDA/Inte

  10. Slide 10: Operational Performance

    Operational Performance RESOURCES

  11. Slide 11: Operational Highlights

    Operational Highlights 9M2011 9M2010 Change 3Q2011 3Q2010 Change Production FFB Total (tonne) 1,342,949 1,100,304 22.1% 556,996 476,523 16.9%  Nucleus 1,222,249 1,005,322 21.6% 510,169 435,765 17.1%  Plasma 120,700 94,982 27.1% 46,827 40,758 14.9% CPO (tonne) 319,051 260,634 22.4% 132,333 111,340

  12. Slide 12: Production Trends

    Production Trends FFB Production ‘000 tonnes 600 510 500 436 442 402 400 371 374 322 338 300 299 300 271 200 100 32 37 38 44 27 28 41 42 36 38 47 0 1Q2009 2Q2009 3Q2009 4Q2009 1Q2010 2Q2010 3Q2010 4Q2010 1Q2011 2Q2011 3Q2011 FFB Nucleus FFB Plasma ‘000 tonnes CPO Production 150 132 125 108 111 116 9

  13. Slide 13: Plantation Area

    Plantation Area Investing for growth – added 8,668 ha in 9M2011 As at 30 Sep 2011 As at 30 Sep 2010 As at 31 Dec 2010 Area (ha) % of Total Area (ha) % of Total Area (ha) Planted Nucleus 116,358 90% 103,589 89% 107,664 - Mature 74,704 58% 69,404 59% 69,404 - Immature 41,654 32% 34,185 30% 38,260 Plan

  14. Slide 14: Plantation Age Profile

    Plantation Age Profile As at 30 Sep 2011 Age Profile Age Old Area (ha) % of Total 3% Prime 42% 0-3 years (Immature) 43,802 34% Immature 34% 4-7 years (Young) 27,268 21% 8-17 years (Prime) 53,893 42% ≥18 years (Old) 4,535 3% Young 21% Total 129,498 100% Weighted average age of ~ 8 years 14

  15. Slide 15: Group Updates

    Group Updates RESOURCES

  16. Slide 16: Group Updates

    Group Updates  Construction in progress  10th and 11th CPO mill (one located in Riau and one in West Kalimantan)  Bulking facility (located in Dumai)  Kernel crushing plant (located in Dumai)  Above facilities are expected to be completed by Jun 2012  2011 new plantings  Achieved 8,668 ha in

  17. Slide 17: Disclaimer

    Disclaimer This presentation has been prepared by First Resources Limited (“Company”) for informational purposes, and may contain projections and forward-looking statements that reflect the Company’s current views with respect to future events and financial performance. These views are based on curr

  18. Slide 18: Contact Information

    Contact Information If you need further information, please contact: Investor Relations investor@first-resources.com First Resources Limited 8 Temasek Boulevard #36-02 Suntec Tower Three Singapore 038988 Tel: +65 6333 6788 Fax: +65 6333 6711 Website: www.first-resources.com 18

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