16 slides from First Resources Ltd. (singapore)'s earnings presentation, Nov 13, 2009
Slide 1: First Resources Limited Performance Presentation
First Resources Limited P f Performance P Presentation t ti Nine Months ended 30 September 2009 (“9M2009”) 13 November 2009 Singapore
Slide 2: Table of Contents
Table of Contents 9M2009 / 3Q2009 Financial Performance 3 9M2009 / 3Q2009 Operational Performance 8 Developments and Outlook 13 2
Slide 3: 9M2009 / 3Q2009 Financial Performance
9M2009 / 3Q2009 Financial Performance
Slide 4: Executive Summary – 9M2009
Executive Summary – 9M2009 Strong margins maintained despite lower average selling prices Net Profit EBITDA Gross Profit: Rp940.4 bn. (US$87.7 mn.(1)) Rp bn 1350 1,263.4 EBITDA: Rp906 2 bn. Rp906.2 bn (US$84.5 mn (1)) (US$84 5 mn. 1200 Net Profit(2) : Rp633.5 bn. (US$59.1 mn.(1)) 1050 906.2 900 750
Slide 5: Income Statement Highlights
Income Statement Highlights 9M2009 9M2008 Change 3Q2009 3Q2008 Change Rp billion (restated) (restated) Sales 1,626.5 2,090.4 (22.2%) 629.7 636.5 (1.1%) G Gross Profit P fit 940 4 940.4 1 439 9 1,439.9 (34 7%) (34.7%) 410 0 410.0 430 0 430.0 (4 6%) (4.6%) EBITDA 906.2 1,263.4 (28.3%) 395.4 378.1 4.6%
Slide 6: 3Q2009 Performance Review
3Q2009 Performance Review S l Sales ¾ Lower average selling prices compared to 3Q2008 offset by increase in sales volume due to higher production volumes ¾ However sales volume was lower than production volumes due to delivery timing However, Cost of production ¾ Cash cost of production maintain
Slide 7: Balance Sheet Highlights
Balance Sheet Highlights Rp billion 30 Sept 2009 31 Dec 2008 Total Assets 8,983.7 7,815.3 Cash and cash equivalents q 1,837.1 1,092.1 Total Liabilities 4,118.1 3,484.4 Interest Bearing Debts(1) 2,888.0 2,015.5 Total Equity Attributable to Owners of the Parent 4,665.0 4,162.4 Net Debt(2)/Equity(3) 0
Slide 8: 9M2009 / 3Q2009 Operational Performance
9M2009 / 3Q2009 Operational Performance
Slide 9: Operational Highlights
Operational Highlights 9M2009 9M2008 Ch Change 3Q2009 3Q2008 Ch Change Production FFB Total (ton) 1,099,251 1,027,612 7.0% 409,007 377,900 8.2% FFB Nucleus 991,840 909,936 9.0% 370,573 335,720 10.4% FFB Plasma 107,411 117,676 (8.7%) 38,434 42,180 (8.9%) CPO (ton) 260 285 260,285 235 637 235,637 10 5
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 1,099.3 278.3 260.3 1,200 1,027.6 300 227.3 235.6 949.5 194.2 800 200 400 100 0 0 2005 2006 2007 2008 9M2008 9M2009 2005 2006 2007 2008 9M2008 9M2009 Yield per Mature Hectare CPO
Slide 11: Plantation Area Statistics as at 30 Sep 2009
Plantation Area Statistics as at 30 Sep 2009 Description Area (ha) % of Total Area Profile Planted Nucleus 93,034 88.7% Plasma Plasma Mature Immature - Mature 63,684 60.7% 7.8% 3.5% Nucleus Immature - Immature 29,350 28.0% 28.0% Planted Plasma 11,842 11.3% - Mature 8,132 7.8% - Immature 3,710 3.5% N
Slide 12: Plantation Maturity Profile as at Sep 2009
Plantation Maturity Profile as at 30 Sep 2009 Age Area (ha) % of Total Age Profile Old 0-3 years (Immature) 33,060 31.5% 0.4% Prime Immature 50.7% 31.5% 4-7 years (Young) 18,245 17.4% 8-17 years (Prime) 53 118 53,118 50 7% 50.7% ≥18 years (Old) 453 0.4% Young 17.4% Total 104,876 100.0% Average plant
Slide 13: Developments and Outlook
aii Developments and Outlook RESOURCES
Slide 14: Developments and Outlook
Developments and Outlook 2009 new planting l ti ttargett on ttrack k ¾ 2009 planting target of 8-12 k ha -> 9,635 achieved in 9M2009, new plantings to continue in 4Q2009 ¾ Planting pace at West Kalimantan has picked up Completed inaugural Convertible Bond issue in September 2009 ¾ US$100 million
Slide 15: 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 16: 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 6602 0202 First Resources Limited 8 Temasek Boulevard #36-02 Suntec Tower Three Singapore 038988 Tel: +65 6333 6788 Fax: