First Resources Ltd. (singapore) · SGX:EB5
First Resources Ltd. (singapore) — First Resources — Shareholder Meeting (April 2025)
23 slides from First Resources Ltd. (singapore)'s shareholder meeting presentation, Apr 28, 2025
Slide 1: First Resources Limited Annual General Meeting
First Resources Limited Annual General Meeting 28 April 2025 Delivering Growth and Returns
Slide 2: Table of Contents
Table of Contents Group Overview 3 2024 Financial and Operational Highlights 8 Group Updates 15
Slide 3: Group Overview
Group Overview
Slide 4: About First Resources
About First Resources Locations Assets Oil palm plantations are located in the Riau, West Kalimantan and East Kalimantan provinces of Indonesia 11% 30% 59% Riau West Kalimantan East Kalimantan 215,128 ha 45 to 90 1,350,000 FFB tonnes per hour tonnes per annum of Oil Palm Plantations of Mill Capacity
Slide 5: Plantation Age Profile
Plantation Age Profile As at 31 Dec 2024 Age Age Profile Area (ha) % of Total Old Immature 0-3 years (Immature) 20,764 10% 28% 10% Young 7% 4-7 years (Young) 15,210 7% 8-17 years (Prime) 118,448 55% ≥ 18 years (Old) 60,706 28% Prime 55% Total 215,128 100% Weighted average age of 14.2 years -5-
Slide 6: Growth Strategy: Building on our Core Expertise
Growth Strategy: Building on our Core Expertise Upstream Agri- ◼ Develop and maintain high-quality plantation assets and ensure Business optimal milling capacity in line with FFB production growth Focus ◼ To achieve sustainable production growth ◼ Maintain our low-cost structure through best-in-clas
Slide 7: Dividend
Dividend ◼ Proposing final dividend of 6.30 Singapore cents per share ➢ Interim dividend of 3.50 Singapore cent per share paid in September 2024, bringing full- year ordinary dividends to 9.80 Singapore cents per share Dividend History FY2024 FY2023 FY2022 FY2021 FY2020 Interim (SGD cents per share)
Slide 8: 2024 Financial and Operational Highlights
2024 Financial and Operational Highlights
Slide 9: Executive Summary – FY2024
Executive Summary – FY2024 Strong Earnings Growth with Record Production ◼ Financial Performance ➢ EBITDA of US$398.9 million, an increase of 41.4% ➢ Underlying net profit of US$228.8 million, an increase of 56.1% ➢ A strong performance underpinned by record production and higher palm oil prices ◼ O
Slide 10: Income Statement Highlights
Income Statement Highlights US$’ million FY2024 FY2023 Change Sales 1,038.8 980.6 5.9% Cost of sales (593.1) (617.5) (4.0%) Gross profit 445.7 363.0 22.8% Gain/(loss) arising from changes in fair value of biological 22.7 (1.1) n.m. assets EBITDA(1) 398.9 282.0 41.4% Net profit(2) 245.8 145.4 69.1% U
Slide 11: Key Performance Metrics
Key Performance Metrics EBITDA and Cash Cost of Production US$/tonne 1,400 1,239 1,179 1,200 1,077 1,006 1,000 936 900 874 860 790 769 800 686 693 696 651 671 667 658 646 599 604 570 565 565 600 539 521 482 471 445 369 381 376 366 366 400 266 200 327 310 240 255 237 250 276 198 221 221 228 204 215 2
Slide 12: Key Performance Metrics
Key Performance Metrics EBITDA per Mature Nucleus Hectare(1) US$/ha 4,000 3,586 3,601 3,095 2,969 3,007 3,000 2,818 2,476 2,330 2,030 2,000 1,914 1,878 1,846 1,612 1,544 1,552 1,395 1,059 1,000 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 (1) Refers to EBITD
Slide 13: Balance Sheet Highlights
Balance Sheet Highlights US$’ million 31 Dec 2024 31 Dec 2023 Total Assets 1,951.8 1,774.8 Cash and bank balances 157.2 162.9 Total Liabilities 464.3 373.1 Borrowings and debt securities(1) 270.1 237.7 Total Equity 1,487.5 1,401.8 Net Debt(2) 112.9 74.9 Gross gearing ratio 0.18x 0.17x Net gearing ra
Slide 14: Operational Highlights
Operational Highlights FY2024 FY2023 Change Production FFB harvested (tonnes) 3,797,756 3,584,486 5.9% • Nucleus 3,266,856 3,070,683 6.4% • Plasma 530,900 513,803 3.3% CPO (tonnes) 1,003,922 951,425 5.5% PK (tonnes) 219,576 207,436 5.9% Efficiency FFB Yield (tonnes/ha) 19.5 18.4 CPO Yield (tonnes/ha
Slide 15: Group Updates
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Slide 16: Capital Investments in 2025
Capital Investments in 2025 ◼ Plantation Development ➢ Replanting of oil palms ➢ Conversion from rubber to oil palms ➢ Maintenance of immature oil palm plantations ◼ Property, Equipment and Others ➢ Infrastructure for plantation management ◼ CPO Mills ➢ Upgrading and maintenance of existing CPO mill
Slide 17: Acquisition of PT Austindo Nusantara Tbk.
Acquisition of PT Austindo Nusantara Tbk. ◼ Overview ➢ On 18 March 2025, the Group announced the signing of a conditional share purchase agreement for the acquisition of PT Austindo Nusantara Jaya Tbk (“ANJ”). ➢ The acquisition represents a rare and strategic opportunity to expand the Group's upstre
Slide 18: Acquisition of PT Austindo Nusantara Tbk.
Acquisition of PT Austindo Nusantara Tbk. ◼ Expected Completion ➢ Early May 2025, subject to satisfaction of conditions precedent. ➢ We will keep shareholders informed through the usual channels as and when there are material developments regarding this transaction. ◼ Earnings Impact ➢ The acquisiti
Slide 19: Updates
Updates ◼ RSPO Certifications ➢ In 2024, the Group received RSPO (Roundtable on Sustainable Palm Oil) certification for one additional subsidiary, covering 16,339 hectares of plantations in West Kalimantan. ➢ As at December 2024, we have received RSPO certifications for ten of our subsidiaries cover
Slide 20: Question & Answer
Question & Answer
Slide 21: Thank You
Thank You
Slide 22: Contact Information
Contact Information If you need further information, please contact: Investor Relations investor@first-resources.com First Resources Limited 7 Temasek Boulevard #24-01 Suntec Tower One Singapore 038987 Tel: +65 6602 0200 Fax: +65 6333 6711 www.first-resources.com Website: www.first-resources.com
Slide 23: 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