18 slides from First Resources Ltd. (singapore)'s earnings presentation, Aug 14, 2025
Slide 1: First Resources Limited Half Year 2025 Results Presentation
First Resources Limited Half Year ended 30 June 2025 Results Presentation 14 August 2025 Delivering Growth and Returns
Slide 2: Table of Contents
Table of Contents Executive Summary 3 Financial Performance 4 Operational Performance 9 Group Updates 15 -2-
Slide 3: Executive Summary – 1H2025
Executive Summary – 1H2025 ◼ Financial Performance ➢ EBITDA grew 56.3% to US$262.3 million ➢ Underlying net profit came in at US$152.0 million, an increase of 67.8% ➢ Robust financial performance mainly driven by higher average selling prices and stronger sales volumes ➢ Increase in sales volumes su
Slide 4: Financial Performance
Financial Performance
Slide 5: Income Statement Highlights
Income Statement Highlights US$’ million 1H2025 1H2024 Change Sales 673.9 457.2 47.4% Cost of sales (393.0) (270.5) 45.3% Gross profit 280.9 186.7 50.4% (Loss)/gain arising from changes in fair value of (3.6) 17.1 n.m. biological assets EBITDA(1) 262.3 167.8 56.3% Net profit(2) 149.2 103.9 43.6% Und
Slide 6: Segmental Results
Segmental Results US$’ million 1H2025 1H2024 Change Sales Plantations and Palm Oil Mills 560.8 371.3 51.0% • Crude Palm Oil 469.3 328.7 42.8% • Palm Kernel 88.3 39.4 124.2% • Fresh Fruit Bunches 3.2 3.1 1.2% Refinery and Processing 590.3 335.2 76.1% Inter-segment elimination (477.1) (249.3) 91.4% 67
Slide 7: Segmental Sales Volume
Segmental Sales Volume 1H2025 1H2024 Change Sales Volume (tonnes) Plantations and Palm Oil Mills(1) • Crude Palm Oil 537,817 424,611 26.7% • Palm Kernel 120,653 92,444 30.5% Refinery and Processing 656,393 438,112 49.8% ▪ The increase in sales volumes was supported by organic growth in the Group’s p
Slide 8: Balance Sheet Highlights
Balance Sheet Highlights US$’ million 30 Jun 2025 31 Dec 2024 Total Assets 2,747.9 1,951.8 Cash and bank balances 190.4 157.2 Total Liabilities 1,174.5 464.3 Borrowings and debt securities(1) 916.9 270.1 Total Equity 1,573.4 1,487.5 Net Debt(2) 726.5 112.9 Gross gearing ratio 0.58x 0.18x Net gearing
Slide 9: Operational Performance
Operational Performance
Slide 10: Production Highlights
Production Highlights 1H2025 1H2024 Change Production FFB harvested (tonnes) 2,027,054 1,648,455 23.0% • Nucleus 1,742,882 1,415,102 23.2% • Plasma 284,172 233,353 21.8% CPO (tonnes) 554,519 430,246 28.9% PK (tonnes) 122,164 93,602 30.5% Efficiency FFB Yield(1) (tonnes/ha) 9.6 8.4 CPO Yield(1) (tonn
Slide 11: Production Highlights (FR exc. ANJ)
Production Highlights (FR exc. ANJ) 1H2025 1H2024 Change Production FFB harvested (tonnes) 1,870,838 1,648,455 13.5% • Nucleus 1,603,620 1,415,102 13.3% • Plasma 267,218 233,353 14.5% CPO (tonnes) 510,230 430,246 18.6% PK (tonnes) 113,392 93,602 21.1% Efficiency FFB Yield (tonnes/ha) 9.5 8.4 CPO Yie
Slide 12: Production Trends
Production Trends ‘000 tonnes FFB Production 992 1,000 909 935 916 900 836 800 747 751 701 669 700 625 600 500 400 300 200 124 149 134 123 147 150 124 160 107 110 100 0 1Q2023 2Q2023 3Q2023 4Q2023 1Q2024 2Q2024 3Q2024 4Q2024 1Q2025 2Q2025 FFB Nucleus FFB Plasma ‘000 tonnes 350 CPO Production 323 287
Slide 13: Oil Palm Plantation Area
Oil Palm Plantation Area As at 30 Jun 2025 As at 30 Jun 2024 As at 31 Dec 2024 Area (ha) % of Total Area (ha) % of Total Area (ha) Planted Nucleus 227,989 84% 176,810 83% 178,854 - Mature 202,738 75% 161,239 76% 158,931 - Immature 25,251 9% 15,571 7% 19,923 Planted Plasma 41,723 16% 35,449 17% 36,27
Slide 14: Plantation Age Profile
Plantation Age Profile As at 30 Jun 2025 Age profile Age Area (ha) % of Total Immature 0-3 years (Immature) 26,253 10% 10% Old Young 30% 9% 4-7 years (Young) 24,186 9% 8-17 years (Prime) 136,846 51% ≥ 18 years (Old) 82,427 30% Prime 51% Total 269,712 100% Weighted average age of 14.4 years - 14 -
Slide 15: Group Updates
Group Updates
Slide 16: Updates
Updates ◼ Outlook ➢ The improved competitiveness of palm oil prices relative to other vegetable oils, together with India’s reduction in import duties, may continue to encourage consuming countries to replenish inventories ahead of upcoming festivities. Combined with Indonesia’s local biodiesel mand
Slide 17: 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 18: Contact Information
Contact Information If you need further information, please contact: Investor Relations investor@first-resources.com First Resources Limited 7 Temasek Boulevard #24-01 Suntec Tower One Singapore 038987 Tel: +65 6602 0200 Fax: +65 6333 6711 Website: www.first-resources.com - 18 -