17 slides from First Resources Ltd. (singapore)'s earnings presentation, May 15, 2009
Slide 1: First Resources Limited Performance Presentation 1Q2009
First Resources Limited Performance Presentation Three Months ended 31 Mar 2009 (“1Q2009”) 15 May 2009 Singapore
Slide 2: Table of Contents
Table of Contents 1Q2009 Financial Performance 3 1Q2009 Operational Performance 9 Outlook 14 2
Slide 3: 1Q2009 Financial Performance
1Q2009 Financial Performance
Slide 4: Executive Summary – 1Q2009
Executive Summary – 1Q2009 Net Profit EBITDA Gross Profit: Rp212.5 bn. (US$18.3 mn.(1)) Rp bn EBITDA: Rp240.2 bn. (US$20.7 mn.(1)) 900.00 Net Profit(2) : Rp57.4 bn. (US$4.9 mn.(1)) 750.00 600.00 504.2 450.00 Gross Margin : 49.2% 311.4 300.00 240.2 EBITDA Margin : 55.6% 150.00 57.4 Net Profit(2) Marg
Slide 5: Income Statement Highlights
Income Statement Highlights Satisfactory 1Q performance despite significantly lower ASP, due to maintenance of low production costs Rp’ billion 1Q2009 1Q2008 Change Revenue 432.2 733.9 (41.1%) Gross Profit 212.5 535.7 (60.3%) Gains/(Losses) from value of Biological Assets - - - EBITDA 240.2 504.2 (5
Slide 6: Summary of Significant Items in 1Q2009 Results
Summary of Significant Items in 1Q2009 Results The following non-cash items were booked in 1Q2009 income statement Losses from foreign exchange translation of USD Notes of Rp46.4 billion ¾ Due to weakening of IDR (Rp 11,575/US$ at end March 2009 vs Rp10,950/US$ at end 2008) MTM losses from cross
Slide 7: 1Q2009 Sales Breakdown
1Q2009 Sales Breakdown By Product By Domestic/Export PK Others 12.0% 0.0% Export 41.5% Domestic 58.5% CPO 88.0% Rp’ million Rp’ million CPO 380,271 Export 179,593 PK 51,973 Domestic 252,651 Others - Total 432,244 Total 432,244 7
Slide 8: Balance Sheet Highlights
Balance Sheet Highlights Low gearing & healthy cash balance Rp’ billion 31 Mar 2009 31 Dec 2008 Total Assets 8,044.0 7,815.3 Cash and cash equivalents 1,153.7 1,092.1 Total Liabilities 3,650.5 3,484.4 Interest Bearing Debts(1) 2,104.9 2,015.5 Total Equity Attributable to Equity Holders 4,222.1 4,162
Slide 9: 1Q2009 Operational Performance
1Q2009 Operational Performance
Slide 10: Operational Highlights
Operational Highlights 1Q2009 1Q2008 Change Production FFB Total (ton) 331,985 318,687 4.2% FFB Nucleus 299,590 282,120 6.2% FFB Plasma 32,395 36,567 (11.4%) CPO (ton) 77,285 71,991 7.4% PK (ton) 18,454 16,434 12.3% Efficiency FFB Yield (ton/ha) 4.90 5.09 CPO Extraction Rate (%) 23.23 22.70 PK Extra
Slide 11: Continued Growth in Productivity
Continued Growth in Productivity FFB Production CPO Production ‘000 tons ‘000 tons 1,600 1,403.8 400 1,266.8 322.7 1,120.8 278.3 1,200 300 949.5 227.3 194.2 800 200 318.7 332.0 72.0 77.3 400 100 0 0 2005 2006 2007 2008 1Q2008 1Q2009 2005 2006 2007 2008 1Q2008 1Q2009 Yield per Mature Hectare CPO Extr
Slide 12: Plantation Statistics as of 31 Mar 2009
Plantation Statistics as of 31 Mar 2009 2,260 new hectares added in 1Q2009 Description Area (ha) % of Total Planted Area Profile Plasma Plasma Planted Nucleus 86,162 88.4% Mature Immature 8.3% 3.3% Nucleus - Mature 59,580 61.1% Immature 27.3% - Immature 26,582 27.3% Planted Plasma 11,339 11.6% - Mat
Slide 13: Plantation Maturity Profile as of 31 Mar 2009
Plantation Maturity Profile as of 31 Mar 2009 Age Area (Ha) % of Total Age Profile Old 0-3 years (Immature) 29,789 30.6% 0.4% Immature Prime 30.6% 54.5% 4-7 years (Young) 14,141 14.5% 8-17 years (Prime) 53,118 54.5% ≥18 years (Old) 453 0.4% Young 14.5% Total 97,501 100.0% Average plantation age of 8
Slide 14: Outlook
ae, Outlook RESOURCES
Slide 15: Outlook
Outlook CPO prices have recovered strongly since start of 2Q09 ¾ Production of palm oil in Malaysia and Indonesia relatively subdued due to tree stress etc. ¾ Import demand from major consuming countries highly resilient ¾ Resulting in sharp reduction in inventory levels at major producing countri
Slide 16: Disclaimer
Disclaimer The information contained in this document has not been independently verified. No 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 information or opinions contained herein. It is n
Slide 17: Contact Us
Contact Us If you need further information, please contact: Ms. Serene Lim / Ms. Gillian Theodosia Investor Relations Team Email: 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 www.first-resour