14 slides from First Resources Ltd. (singapore)'s earnings presentation, May 11, 2010
Slide 1: First Quarter 2010 Results Presentation
First Resources Limited First Quarter 2010 Results Presentation 11 May 2010 | Singapore Delivering Growth and Returns
Slide 2: Table of Contents
Table of Contents Executive Summary 3 1Q2010 Financial Performance 4 1Q2010 Operational Performance 7 Other Updates 11 2
Slide 3: Executive Summary – 1Q2010
Executive Summary – 1Q2010 Financials ¾ Strong increase in average selling prices in 1Q2010 helped boost performance ¾ Depreciation of USD partially contributed to higher production costs and G&A expenses ¾ EBITDA margin remained strong at 59.2% ¾ EBITDA increased 122.7% to US$37.9 million ¾ Net p
Slide 4: 1Q2010 Financial Performance
1Q2010 Financial Performance
Slide 5: Income Statement Highlights
Income Statement Highlights US$ million illi 1Q2010 1Q2009 Ch Change Sales 64.1 37.2 72.4% Gross Profit 38.1 18.3 108.6% EBITDA 37.9 17.0 122.7% Profit for the Period 26.4 5.5 379.4% Net Profit Attributable to Equity Holders 25.5 5.3 384.1% Gross Margin 59 5% 59.5% 49 2% 49.2% EBITDA Margin 59.2% 45
Slide 6: Balance Sheet Highlights
Balance Sheet Highlights US$ million illi 31 M Mar 2010 31 D Dec 2009 Total Assets 1,065.8 1,012.6 Cash and bank balances 193 0 193.0 179 6 179.6 Total Liabilities 428.1 419.8 g Debts(1) Interest Bearing 303.8 299.3 Total Equity Attributable to Equity Holders 607.6 563.7 Net Debt(2)/Equity(3) 02x 0.
Slide 7: 1Q2010 Operational Performance
1Q2010 Operational Performance
Slide 8: Operational Highlights
Operational Highlights 1Q2010 1Q2009 Ch Change Production FFB Total (tonne) 297,682 331,985 (10.3%) FFB Nucleus 271,022 299,590 (9.5%) FFB Plasma 26,660 32,395 (17.7%) CPO (tonne) 72 075 72,075 77 285 77,285 (6 7%) (6.7%) PK (tonne) 16,660 18,454 (9.7%) Efficiency FFB Yield (tonne/ha) 3.8 4.9 CPO Ex
Slide 9: Plantation Area
Plantation Area As at 31 March 2010 As at 31 December 2009 Area (ha) % of Total Area (ha) % of Total Planted Nucleus 99,844 88% 96,858 89% - Mature 69,404 61% 63,684 58% - Immature 30 440 30,440 27% 33 174 33,174 31% Planted Plasma 13,166 12% 12,059 11% - Mature 8 671 8,671 8% 8 243 8,243 8% - Immat
Slide 10: Plantation Age Profile
Plantation Age Profile As at 31 March 2010 Age Profile Age Area (ha) % of Total Old 1% 0-3 years (Immature) ( ) 34,935 31% Prime Immature 31% 47% 4-7 years (Young) 23,202 21% 8-17 years (Prime) 53,375 47% ≥18 years (Old) 1,498 1% Young 21% Total 113,010 100% Weighted average age of ~ 8 years 10
Slide 11: Business Update
aii Business Update RESOURCES
Slide 12: Group Updates
Group Updates Liability management ¾ Redeeming US$140.8 million USD Notes due 2011 on 8 June 2010 ¾ Exercised early redemption option due to change in Indonesia’s withholding tax regulation ¾ Redemption will be financed with 6-year amortising bank loans ¾ New bank loans secured against some of the
Slide 13: Disclaimer
Disclaimer This presentation Thi t ti h has b been preparedd by b First Fi t Resources R Li it d (“Company”) Limited (“C ”) for f informational i f ti l purposes, and may contain projections and forward-looking statements that reflect the Company’s current views with respect to future events and fin
Slide 14: Contact Information
Contact Information If you need further information, please contact: Ms. Serene Lim Investor Relations Manager Email: serene.lim@first-resources.com / investor@first-resources.com DID: +65 6602 0202 First Resources Limited 8 Temasek Boulevard #36-02 Suntec Tower Three Singapore 038988 Tel: +65 6333