First Resources Ltd. (singapore) · SGX:EB5
First Resources Ltd. (singapore) — First Resources — FY2007 Earnings Presentation
23 slides from First Resources Ltd. (singapore)'s earnings presentation, Feb 27, 2008
Slide 1: FY2007 Results Briefing
FIRST RESOURCES LIMITED FY2007 Results Briefing 27 February 2008
Slide 2: Disclaimer
Disclaimer The information contained in this document has not been independently verified. No representation or warranty express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. It is n
Slide 3: Agenda
Agenda Introduction 4 Financial Highlights 8 Operational Highlights 15 Business Strategy 18 Appendices 20 3
Slide 4: Introduction
Introduction 4
Slide 5: Overview of First Resources
Overview of First Resources First Resources Limited (“First Resources” or the “Company” was established in 2004 ¾ The larger group was established in 1992 One of the leading oil palm plantation companies and producers of crude palm oil (“CPO”) in Indonesia Strategically located in Riau provinc
Slide 6: Operating Profile
Operating Profile We currently operate 13 plantations and 7 palm oil mills Plantation Companies Palm Oil Mills Immature Company Mature Total Name Capacity (in hectares) PT Pancasurya Agrindo 9,120 2,491 11,611 PISP 90 ton/ hour PT Perdana Intisawit Perkasa 8,940 3,962 12,903 CLP 60 ton/ hour PT Subu
Slide 7: Key Strengths
Key Strengths ¾ Pure plantation play Maturity Profile Focus on upstream segment of value chain 150 Upstream operators are biggest beneficiaries of 120 favorable CPO pricing trends (Ha '000) 86.4 90 22.4 (32.7%) ¾ Attractive plantation maturity profile 60 Weighted average age of trees is 7.2 ye
Slide 8: Financial Highlights
Financial Highlights 8
Slide 9: FY2007 Financial Summary
FY2007 Financial Summary Change Rp’ billion FY2007 FY2006 (%) Sales 1,691.4 857.1 97.3 Gross Profit 925.1 369.8 150.1 EBITDA 855.7 392.2 118.2 EBITDA Margin (%) 50.6 45.8 10.5 Net Profit attributable to equity 431.3 243.9 76.9 holders 9
Slide 10: FY2007 Financial Highlights
FY2007 Financial Highlights Record revenue of Rp 1,691.4 billion, up 97.3% from FY2006 Record net profit attributable to equity holders of Rp 431.3 billion, up 76.9% from FY2006 Strong growth in EBITDA margin from 45.8% FY2006 to 50.6% in FY2007 Strong FY2007 performance driven by record production
Slide 11: Sales
Sales Sales Grew by 97.3% R p1,691.4 bn Mainly driven by higher w th 0 7 Gro production volumes and 1,600.0 06‐ 97.3% higher selling prices: 1,200.0 R p857.1 bn ¾ Average CPO and PK selling price rose 59% and 65% respectively 800.0 ¾ CPO and PK both achieved 400.0 record production volumes of 278,24
Slide 12: Sales by Products
Sales by Products FY2006 FY2007 Fresh Fruit Palm Kernel Fresh Fruit Bunches 11% 10% Bunches 1% Palm Kernel 9% Crude Palm Oil 80% Crude Palm Oil 89% In Rp. Bn In Rp. Bn CPO 688.2 CPO 1,504.4 PK 78.9 PK 165.6 FFB 90.0 FFB 21.4 Total 857.1 Total 1,691.4 12
Slide 13: Net Profit
Net Profit Net Profit Grew by 76.9% th ¾ Gross profit grew by 150.1% to 7 G row In R p. B n. 06‐0 6.9% 7 Rp 925.1 billion R p431.3 bn 500.0 ¾ Net gain from changes in fair 400.0 R p243.9 bn value of biological assets of Rp 156.5 billion 300.0 200.0 100.0 0.0 2006 2007 Net P rofit Attributable to equ
Slide 14: Balance Sheet
Balance Sheet As at Dec 31, Change Rp billion As at Dec 31, 2007 2006 (%) Total Assets 6,248.9 3,804.9 64.2 Cash and Bank Balances 1,558.1 745.5 109.0 Total Liabilities 2,942.3 2,208.9 33.2 Interest Bearing Debts 1,973.3 1,484.1 33.0 Total Equity attributable to equity 3,205.8 971.3 230.1 holders Ne
Slide 15: Operational Highlights
Operational Highlights | 15
Slide 16: Production Highlights
Production Highlights FY2007 FY2006 Production (tons) Fresh Fruit Bunches (FFB) 1,266,762 1,120,765 Crude Palm Oil (CPO) 278,340 227,286 Palm Kernel (PK) 63,470 47,759 FFB Yield / hectare (tons/ha) 21.8 20.0 Extraction Rates (%) CPO 22.2 21.9 PK 5.07 4.59 16
Slide 17: Plantation Statistics
Plantation Statistics Description 2007 2006 Palm Planted Area (Ha) Nucleus 76,666 69,739 Immature 25,824 20,582 Mature 50,842 49,157 Plasma 9,688 8,966 Immature 2,411 2,178 Mature 7,277 6,787 Planted Area Immature 28,235 22,760 Matue 58,119 55,944 Total Planted Area 86,354 78,704 17
Slide 18: Business Strategy
Business Strategy | 18
Slide 19: Business Strategy
Business Strategy Continue expansion of plantation footprint through new plantings. Target additional plantings of 18,000 hectare in 2008 Plantations Open to acquisition opportunities to accelerate plantation growth Continue to acquire new landbank to support aggressive planting plans Expand
Slide 20: Appendices
Appendices | 20
Slide 21: Ownership Structure
Ownership Structure Eight Capital Float / Public Infinite Capital 73.3% 17.6% 9.1% First Resources Limited 63.00% 95.51% 38.00% PT Ciliandra Perkasa Ciliandra Perkasa Finance Company Pte. Ltd 100% 32.00% 99.90% 99.75% 99.99% 99.99% 62.00% PT Meridan PT Bumi Sawit PT Priatama PT Perdana PT Surya Seja
Slide 22: Milestones
Milestones 1992: Entered oil 1997: Achieved palm plantation total new planting business with the of more than acquisition of PT 17,000 hectares in 1998: The first oil palm 2002: PISP oil palm Dec 2006: Senior Jul 2007: Pertisa Trading one year - one of mill, ATS mill, was mill commissioned secured b
Slide 23: Thank You
THANK YOU 23