First Resources Ltd. (singapore) · SGX:EB5
First Resources Ltd. (singapore) — First Resources — 9M2012 Earnings Presentation
19 slides from First Resources Ltd. (singapore)'s earnings presentation, Nov 12, 2012
Slide 1: Nine Months and Third Quarter 2012 Results Presentation
First Resources Limited Nine Months and Third Quarter 2012 Results Presentation 12 November 2012 I Singapore Delivering Growth and Returns
Slide 2: Table of Contents
Table of Contents Executive Summary 3 Financial Performance 4 Operational Performance 10 Group Updates 15 2
Slide 3: Executive Summary – 9M2012
Executive Summary – 9M2012 Strong Financial Performance EBITDA increased by 23.4% to US$246.3 million Net profit grew by 38.3% to US$164.0 million Boosted primarily by higher sales volumes High Production Growth Fresh fruit bunches (FFB) and crude palm oil (CPO) production increased by 1
Slide 4: Financial Performance
aie, Financial Performance RESOURCES
Slide 5: Income Statement Highlights
Income Statement Highlights US$ million 9M2012 9M2011 Change 3Q2012 3Q2011 Change Sales 469.3 336.4 39.5% 151.8 145.3 4.5% Cost of sales (179.3) (102.4) 75.1% (43.5) (47.8) (8.9%) Gross profit 290.0 234.0 24.0% 108.2 97.5 11.0% EBITDA(1) 246.3 199.6 23.4% 94.8 84.0 12.9% Net profit attributable to o
Slide 6: Segmental Results
Segmental Results US$ million 9M2012 9M2011 Change 3Q2012 3Q2011 Change Sales Plantations and Palm Oil Mills 374.5 312.1 20.0% 124.2 123.6 0.5% • Crude Palm Oil 334.8 269.8 24.1% 111.9 111.2 0.7% • Palm Kernel 39.7 42.3 (6.0%) 12.3 12.4 (1.2%) Refinery and Processing 206.4 109.1 89.1% 68.5 57.4 19.2
Slide 7: Segmental Contribution – 9M2012
Segmental Contribution – 9M2012 Sales(1) EBITDA Refinery and Processing – 35.5% Refinery and Processing – 10.8% Plantations and Palm Oil Mills – 64.5% Plantations and Palm Oil Mills – 89.2% The Plantations and Palm Oil Mills segment remains the Group’s main earnings driver, contributing 89.2% to E
Slide 8: Segmental Sales Volume
Segmental Sales Volume 9M2012 9M2011 Change 3Q2012 3Q2011 Change Sales Volume (tonnes) Plantations and Palm Oil Mills(1) • Crude Palm Oil 373,151 293,135 27.3% 128,717 115,239 11.7% • Palm Kernel 91,305 69,188 32.0% 32,237 27,993 15.2% Refinery and Processing 186,406 88,562 110.5% 59,950 45,865 30.7
Slide 9: Balance Sheet Highlights
Balance Sheet Highlights US$ million 30 Sept 2012 31 Dec 2011 Total Assets 1,768.6 1,500.1 Cash and bank balances 374.2 210.4 Total Liabilities 677.5 571.7 Borrowings and debt securities(1) 456.8 349.6 Total Equity 1,091.2 928.4 Net Debt(2) 82.6 139.2 Net Debt(2)/Total Equity 0.08x 0.15x Net Debt(2)
Slide 10: Operational Performance
aie Operational Performance RESOURCES
Slide 11: Operational Highlights
Operational Highlights 9M2012 9M2011 Change 3Q2012 3Q2011 Change Production FFB Total (tonnes) 1,581,825 1,342,949 17.8% 642,187 556,996 15.3% • Nucleus 1,407,066 1,222,249 15.1% 568,997 510,169 11.5% • Plasma 174,759 120,700 44.8% 73,190 46,827 56.3% CPO (tonnes) 380,630 319,051 19.3% 155,094 132,3
Slide 12: Production Trends
Production Trends FFB Production ’000 tonnes 600 569 510 503 500 436 442 427 411 400 374 338 299 300 271 200 100 52 56 73 27 28 41 42 36 38 47 46 0 1Q2010 2Q2010 3Q2010 4Q2010 1Q2011 2Q2011 3Q2011 4Q2011 1Q2012 2Q2012 3Q2012 FFB Nucleus FFB Plasma CPO Production ’000 tonnes 175 155 150 132 133 125 1
Slide 13: Plantation Area
Plantation Area Investing for growth – added 6,336 ha in 9M2012 As at 30 Sept 2012 As at 30 Sept 2011 As at 31 Dec 2011 Area (ha) % of Total Area (ha) % of Total Area (ha) Planted Nucleus 118,300 85% 116,358 90% 113,143 - Mature 82,031 59% 74,704 58% 74,704 - Immature 36,269 26% 41,654 32% 38,439 Pl
Slide 14: Plantation Age Profile
Plantation Age Profile As at 30 Sept 2012 Age Profile Age Old Area (ha) % of Total 6% Prime 40% Immature 0-3 years (Immature) 44,263 32% 32% 4-7 years (Young) 31,212 22% 8-17 years (Prime) 55,081 40% ≥18 years (Old) 8,031 Young 6% 22% Total 138,587 100% Weighted average age of ~ 8 years 14
Slide 15: Group Updates
aie Group Updates RESOURCES
Slide 16: Group Updates
Group Updates Increasing CPO milling capacity Expect the 11th CPO mill in West Kalimantan to be ready by 4Q2012, which will increase the Group’s aggregate milling capacity to 630 tonnes of FFB per hour (or 3.78 million tonnes per annum) Increasing plantation assets and land bank reserves Com
Slide 17: Group Updates
Group Updates 2012 new plantings Achieved 6,336 ha of new plantings in 9M2012 Expect to plant approximately 10,000 ha in FY2012 Majority of new plantings carried out at the East and West Kalimantan provinces Outlook Expect production volume growth to continue in the fourth quarter of thi
Slide 18: 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
Slide 19: Contact Information
Contact Information If you need further information, please contact: Investor Relations investor@first-resources.com First Resources Limited 8 Temasek Boulevard #36-02 Suntec Tower Three Singapore 038988 Tel: +65 6333 0200 Fax: +65 6333 6711 Website: www.first-resources.com 19