First Resources Limited
Full Year and Second Half 2021
Results Presentation
25 February 2022
Delivering Growth and Returns
Table of Contents
Executive Summary | 3 |
Financial Performance | 5 |
Operational Performance | 13 |
Group Updates | 18 |
- 2 -
Executive Summary - FY2021
Delivers robust set of results with record revenue of US$1 billion
- Financial Performance
- EBITDA came in at US$312.9 million, an increase of 20.7%
- Underlying net profit came in at US$149.2 million, an increase of 53.8%
- Better financial performance attributed to higher average selling prices and stronger sales volumes
- Operational Performance
- Fresh fruit bunches (FFB) harvested increased by 2.9%
- Crude palm oil (CPO) production volumes increased by 1.6%
- Cash cost of production for nucleus CPO came in at US$250 per tonne (FY2020: US$221)
- 3 -
Dividend Proposal
- Proposing final dividend of 5.10 Singapore cents per share
- Interim dividend of 1.25 Singapore cent per share paid in September 2021, bringing full- year ordinary dividends to 6.35 Singapore cents per share
- Dividend policy
- Revised last year to distribute up to 50% of underlying net profit annually, an increase from the 30% previously
FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | ||
Interim | (SGD cents per share) | 1.25 | 1.00 | 0.625 | 1.25 | 1.25 |
Final | (SGD cents per share) | 5.10 | 2.00 | 1.725 | 2.00 | 2.15 |
Special (SGD cents per share) | - | - | - | - | 3.40 | |
Total | (SGD cents per share) | 6.35 | 3.00 | 2.350 | 3.25 | 6.80 |
% of Underlying Net Profit | |||||
- Ordinary dividend | 50% | 37% | 31% | 31% | 29% |
- Special dividend | - | - | - | - | 29% |
- 4 -
Financial Performance
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