First Resources Ltd. (Singapore) · SGX:EB5
First Resources Ltd. (Singapore) — First Resources — H1 2009 Earnings Presentation
18 slides from First Resources Ltd. (Singapore)'s earnings presentation, Aug 14, 2009
Slide 1: First Resources Limited Performance Presentation
First Resources Limited P f Performance P Presentation t ti Six Months ended 30 June 2009 (“1H2009”) 14 August g 2009 Singapore
Slide 2: Table of Contents
Table of Contents 1H2009 / 2Q2009 Financial Performance 3 1H2009 / 2Q2009 Operational Performance 8 Developments and Outlook 11 Supplemental Information 13 2
Slide 3: 1H2009 / 2Q2009 Financial Performance
1H2009 / 2Q2009 Financial Performance
Slide 4: Executive Summary – 1H2009
Executive Summary – 1H2009 Positive set of operating results, despite lower average selling prices Net Profit EBITDA Gross Profit: Rp530.4 bn. (US$47.9 mn.(1)) Rp bn 889.3 EBITDA: Rp510 9 bn. Rp510.9 bn (US$46.2 mn (1)) (US$46 2 mn. 900.00 Net Profit(2) : Rp371.1 bn. (US$33.5 mn.(1)) 750.00 600.00 5
Slide 5: Income Statement Highlights
Income Statement Highlights 1H2009 1H2008 Change 2Q2009 2Q2008 Change Rp billion (restated) (restated) Sales 996.8 1,453.9 (31.4%) 564.6 720.0 (21.6%) G Gross Profit P fit 530 4 530.4 1 010 0 1,010.0 (47 5%) (47.5%) 317 9 317.9 474 3 474.3 (33 0%) (33.0%) EBITDA 510.9 889.3 (42.5%) 310.5 405.6 (23.4
Slide 6: 2Q2009 Performance Review
2Q2009 Performance Review L Lower average selling lli prices i (“ASP”) compared d tto 2Q2008 ¾ More than offset the increase in sales volume due to higher production volumes ¾ ASP lower than average 2Q2009 spot prices due to committed forward sales in 1H2009 Lower cost of production than expecte
Slide 7: Balance Sheet Highlights
Balance Sheet Highlights Rp billion 30 Jun 2009 31 Dec 2008 Total Assets 7,780.1 7,815.3 Cash and cash equivalents q 813.0 1,092.1 Total Liabilities 3,083.7 3,484.4 Interest Bearing Debts(1) 1,992.7 2,015.5 Total Equity Attributable to Owners of the Parent 4,509.4 4,162.4 Net Debt(2)/Equity(3) 0 26
Slide 8: 1H2009 / 2Q2009 Operational Performance
1H2009 / 2Q2009 Operational Performance
Slide 9: Operational Highlights
Operational Highlights 1H2009 1H2008 Ch Change 2Q2009 2Q2008 Ch Change Production FFB Total (ton) 690,244 649,712 6.2% 358,259 331,025 8.2% FFB Nucleus 621,267 574,216 8.2% 321,677 292,096 10.1% FFB Plasma 68,977 75,496 (8.6%) 36,582 38,929 (6.0%) CPO (ton) 162 262 162,262 149 075 149,075 8 8% 8.8%
Slide 10: Production Track Record
Production Track Record FFB Production CPO Production ‘000 tons ‘000 tons 1,600 1,403.8 400 1 266 8 1,266.8 322.7 1,120.8 278.3 1,200 300 227.3 949.5 194.2 800 649.7 690.2 200 149.1 162.3 400 100 0 0 2005 2006 2007 2008 1H2008 1H2009 2005 2006 2007 2008 1H2008 1H2009 Yield per Mature Hectare CPO Ext
Slide 11: Developments and Outlook
aii Developments and Outlook RESOURCES
Slide 12: Developments and Outlook
Developments and Outlook C Completed l t d a new palm l oil il mill ill in i 1H2009 ¾ Group now has 8 palm oil mills ¾ Will progressively add to capacity of mills to accommodate expected FFB production growth 2009 new planting target on track ¾ 2009 planting target of 8-12 k ha -> 5,059 achieved
Slide 13: Supplemental Information
aie, Supplemental Information RESOURCES
Slide 14: Plantation Area Statistics as at 30 Jun 2009
Plantation Area Statistics as at 30 Jun 2009 5,059 new hectares added in 1H2009, in line with intended planting programme Description Area (ha) % of Total Planted Area Profile Planted Nucleus 88,810 88.5% Plasma Plasma Mature Immature - Mature 59,608 59.4% 8.1% 3.4% Nucleus Immature - Immature 29,20
Slide 15: Plantation Maturity Profile as at 30 Jun 2009
Plantation Maturity Profile as at 30 Jun 2009 Age Area (ha) % of Total Age Profile Old 0-3 years (Immature) 32,560 32.5% 0.4% Prime Immature 53.0% 32.5% 4-7 years (Young) 14,169 14.1% 8-17 years (Prime) 53 118 53,118 53 0% 53.0% ≥18 years (Old) 453 0.4% Young 14.1% Total 100,300 100.0% Average plant
Slide 16: 2H2009 Sales Breakdown
2H2009 Sales Breakdown By Product By Domestic/Export PK 11.4% Export 44.5% Domestic CPO 55 5% 55.5% 88.6% Rp’ million Rp’ million CPO 882,805 Export 443,911 PK 113,997 Domestic 552,891 Total 996,802 Total 996,802 16
Slide 17: Disclaimer
Disclaimer The information Th i f ti contained t i d in i this thi document d t has h nott beenb i d independently d tl verified. ifi d No N representation t ti or warranty express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of t
Slide 18: Contact Us
Contact Us If you need further information, please contact: Ms. Serene Lim Investor Relations Manager Email: serene.lim@first-resources.com / investor@first-resources.com DID: +65 660 20202 First Resources Limited 8 Temasek Boulevard #36-02 Suntec Tower Three Singapore 038988 Tel: +65 6333 6788 Fax: