First Resources Ltd. (singapore) · SGX:EB5
First Resources Ltd. (singapore) — First Resources — H1 2008 Earnings Presentation
20 slides from First Resources Ltd. (singapore)'s earnings presentation, Aug 13, 2008
Slide 1: First Resources Limited Performance Presentation 1H2008
First Resources Limited Performance P f P Presentation t ti Half Year ended 30 June 2008 (“1H2008”) 13 Aug g 2008 Singapore
Slide 2: Table of Contents
Table of Contents Notes to Presentation 3 1H2008/ 2Q2008 Fi Financial i lPPerformance f 4 1H2008 Operational Performance 12 Dividend Policy Update 17 2
Slide 3: Notes on this Presentation
Notes on this Presentation We use Singapore Financial Reporting Standards for reporting Acquisitions in 2007 ¾ For 2Q2008 and 1H2008, income statements included the results of PT Meridan Sejatisurya Plantation (PT MSSP) which effectively became a 94%-owned subsidiary after acquisitions of additi
Slide 4: 1H2008/ 2Q2008 Financial Performance
1H2008/ 2Q2008 Financial Performance
Slide 5: Executive Summary
Executive Summary Strong Performance Registered in 1H2008 Revenue : Rp 1,453.9 bn. (US$ 157.6 mn.) 91% Gross Profits : Rp 1,010.0 bn. (US$ 109.5 mn.) 183% EBITDA : Rp 881.5 bn. (US$ 95.6 mn. ) 152% Net Profit Profit* : Rp 701.6 bn. (US$ 76.1 mn.) 223% % Gross Profit Margin : 69.5% EBITDA Margin : 60
Slide 6: Income Statement Highlights - 1H2008
Income Statement Highlights - 1H2008 R ’ billion Rp’ billi 1H2008 1H2007 Ch Change Revenue 1,453.9 760.6 91.2% Gross Profit 1,010.0 357.1 182.8% Gains from Changes in Value of Biological Assets 299.0 204.6 46.1% EBITDA 881.5 350.5 151.5% Profit for the Period 751.6 336.8 123.2% Net Profit Attributab
Slide 7: Income Statement Highlights - 2Q2008
Income Statement Highlights - 2Q2008 R ’ billion Rp’ billi 2Q2008 2Q2007 Ch Change Revenue 720.0 427.1 68.6% Gross Profit 474.3 189.7 150.1 Gains from Changes in Value of Biological Assets 299.0 204.6 46.1% EBITDA 377.3 190.8 97.7% Profit for the Period 421.4 251.1 67,8% Net Profit Attributable to E
Slide 8: Continued Strong Growth In EBITDA And Profit
Continued Strong Growth In EBITDA And Profit EBITDA Net Profit(1) 1,000 980 881.5 900 855 7 855.7 880 800 780 701.6 700 680 p Billion Rp Billion 600 580 Rp 500 480 431.3 392.2 400 350.5 380 300 227.3 243.9 222.8 280 217.6 200 180 90 8 90.8 100 -18.6 80 0 -20 2004 2005 2006 2007 1H2007 1H2008 2004 20
Slide 9: Performance Review
Performance Review I Improved d top t and d bottom b tt lines li due d tot : ¾ Increase in average selling prices ¾ Increase in FFB, CPO and PK production volumes (organic growth) ¾ Acquisition Acq isition of additional interests in PT Meridan Sejatisurya Sejatis r a Plantation and PT Panca Surya
Slide 10: Sales Breakdown – 1H2008
Sales Breakdown – 1H2008 By Product By Domestic/Export Palm Kernel 13% Export 34% Crude Palm Oil 87% Domestic 66% Rp’ million Rp’ million CPO 1,264,601 Export 494,448 PK 189,309 Domestic 959, 462 Total 1,453,910 Total 1,453,910 10
Slide 11: Balance Sheet Highlights
Balance Sheet Highlights Maintained Strong Balance Sheet and Low Gearing Rp’ billion 30 Jun 2008 31 Dec 2007 Total Assets 7,126.5 6,246.7 C h and Cash d cash h equivalents i l t 1 562 5 1,562.5 1 558 1 1,558.1 Total Liabilities 3,067.1 2,940.1 Interest Bearing Debts 1,893.7 1,970.4 Total Equity Attr
Slide 12: 1H08 Operational Performance
1H08 Operational Performance
Slide 13: Operational Highlights
Operational Highlights Continued Strong Production in 2Q2008 1H2008 1H2007 Change Production FFB Total (ton) 649,712 553,107 17.5% Nucleus (ton) 574,216 492,942 16.5% Plasma (ton) 75,496 60,165 25.5% CPO (ton) 149,075 120,583 23.6% PK (ton) 34 674 34,674 27 610 27,610 25 6% 25.6% Efficiency FFB Yiel
Slide 14: Continued Strong Operational Track Record
Continued Strong Operational Track Record FFB Production P d ti CPO Production P d ti ‘000 tons ‘000 tons 1,266.8 , 300 278.3 1,400 1 400 1 120 8 1,120.8 1,200 250 227.3 852.6 949.5 184.1 194.2 1,000 200 149.1 800 553.1 649.7 120.6 150 600 400 100 200 50 0 0 2004 2005 2006 2007 1H2007 1H2008 2004 20
Slide 15: Plantation Area Statistics
Plantation Area Statistics Additional new plantings of 5,113 hectares in 1H2008 Description 30 Jun 2008 % of Total Planted Planted Nucleus Area (hectares) 80,997 89% Mature 54,915 60% Immature 26,082 29% Planted Plasma Area (hectares) 10,470 11% Mature 7,701 8% I Immature t 2 769 2,769 3% Total Plan
Slide 16: Plantation Maturity Profile
Plantation Maturity Profile A Age A Area (H (Ha)) % off T Total t l A M Age Make-Up k U 0-3 years (Immature) 28,851 31.5% Old 0.0% 4-7 years (Young) 9,583 10.5% Immature 31.5% 8-17 years (Prime) 53,033 58.0% Prime 18 years and above (Old) 0.0% 58.0% - Young Total 91,467 , 100.0% 00 0% 10.5% Average
Slide 17: Dividend Payment and Policy
aie Dividend Payment and Policy RESOURCES
Slide 18: Dividend Payment and Policy
Dividend Payment and Policy IInterim t i dividend di id d off 1 1.4 4 Si Singapore cents t per ordinary di share h ffor first half 2008 ¾ Type: Ordinary ¾ Date of book closure: 2 September 2008 ¾ Last date for lodgment of transfers: 1 September 2008 at 5.00 p.m. ¾ Date of Payment: 10 September 200
Slide 19: Disclaimer
Disclaimer The information Th i f ti contained t i d in i this thi document d t has h nott been b i d independently d tl verified. ifi d No N representation or warranty express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the i
Slide 20: Contact Us
Contact Us If you need d further f th information, i f ti please l contact: t t Serene Lim Investor Relations Manager, Singapore Email: serene.lim@first-resources.com / investor@first-resources.com First Resources Limited 8 Temasek Boulevard #36-02 Suntec Tower Three Singapore 038988 Tel: +65 6333 6