First Resources Ltd. (Singapore) · SGX:EB5
First Resources Ltd. (Singapore) — First Resources — Investor Presentation (November 2015)
23 slides from First Resources Ltd. (Singapore)'s investor presentation, November 2015
Slide 1: First Resources Limited Investor Presentation
First Resources Limited Investor Presentation Nov 2015 Delivering Growth and Returns
Slide 2: Table of Contents
Table of Contents Group Overview 3 9M/3Q2015 Financial Performance 8 9M/3Q2015 Operational Performance 14 Group Updates 19 2
Slide 3: Group Overview
aie, Group Overview RESOURCES
Slide 4: A Fast-Growing Plantation Group…
A Fast-Growing Plantation Group… Profile Locations Plantations are located in the Riau, East Kalimantan and West Kalimantan Established in 1992; listed on provinces of Indonesia Singapore Exchange in Dec 2007 Market Capitalization of ~ S$3.1 billion as at end Nov 2015 Assets 205,631 ha of plan
Slide 5: With a Strong Growth Profile
With a Strong Growth Profile Strong growth expected from existing plantation assets due to young age profile Young Plantation Profile Expected Growth from Existing Asset Base CPO Production (‘000 tonnes) Estimated production potential based on current planted hectarage Data as at 30 Sept 2015 Prime
Slide 6: Growth Strategy: Building on our Core Expertise
Growth Strategy: Building on our Core Expertise Develop and maintain high-quality plantation assets, and ensure Upstream Agri- optimal milling capacity in line with FFB production growth Business Focus To achieve sustainable production growth Maintain our low-cost structure through best-in-cla
Slide 7: A Leading Plantation Group with Integrated Operations
A Leading Plantation Group with Integrated Operations Throughout the Value Chain Plantations Milling Processing Activity Fresh Fruit Bunches Crude Palm Oil RBDPO Crude Products Palm Kernel PFAD Glycerine RBD Olein PKE RBD Stearin PKO Biodiesel 205,631 ha of plantations 13 C
Slide 8: 9M/3Q2015 Financial Performance
9M/3Q2015 Financial Performance
Slide 9: Income Statement Highlights
Income Statement Highlights US$’ million 9M2015 9M2014 Change 3Q2015 3Q2014 Change Sales 322.8 438.9 (26.4%) 107.8 148.8 (27.6%) Cost of sales (134.3) (217.4) (38.2%) (37.3) (63.1) (40.8%) Gross profit 188.5 221.4 (14.9%) 70.4 85.7 (17.8%) EBITDA(1) 169.7 205.1 (17.2%) 61.6 79.4 (22.4%) Net profit a
Slide 10: Segmental Results
Segmental Results US$’ million 9M2015 9M2014 Change 3Q2015 3Q2014 Change Sales Plantations and Palm Oil Mills 319.6 385.1 (17.0%) 93.3 140.6 (33.6%) • Crude Palm Oil 275.1 336.8 (18.3%) 81.1 121.8 (33.4%) • Palm Kernel 39.7 44.4 (10.6%) 11.0 17.1 (35.8%) • Fresh Fruit Bunches 4.9 3.9 25.5% 1.2 1.7 (
Slide 11: Segmental Sales and EBITDA – 9M2015
Segmental Sales and EBITDA – 9M2015 Sales EBITDA The Group’s Plantations and Palm Oil Mills segment remains the main contributor to EBITDA. Note : Sales and EBITDA by business segment is stated before inter-segment elimination 11
Slide 12: Segmental Sales Volume
Segmental Sales Volume 9M2015 9M2014 Change 3Q2015 3Q2014 Change Sales Volume (tonnes) Plantations and Palm Oil Mills(1) • Crude Palm Oil 481,149 481,956 (0.2%) 163,278 184,668 (11.6%) • Palm Kernel 111,578 98,414 13.4% 38,057 36,920 3.1% Refinery and Processing 302,725 410,108 (26.2%) 137,196 183,2
Slide 13: Balance Sheet Highlights
Balance Sheet Highlights US$’ million 30 Sept 2015 31 Dec 2014 Total Assets 1,837.5 1,997.9 Cash and bank balances 245.2 350.9 Total Liabilities 896.1 882.1 Borrowings and debt securities(1) 489.5 583.1 Total Equity 941.4 1,115.8 Net Debt 244.3 232.2 Net Debt(2)/Total Equity 0.26x 0.21x Net Debt(2)/
Slide 14: 9M/3Q2015 Operational Performance
9M/3Q2015 Operational Performance
Slide 15: Production Highlights
Production Highlights 9M2015 9M2014 Change 3Q2015 3Q2014 Change Production FFB harvested (tonnes) 2,061,920 1,802,681 14.4% 849,087 776,394 9.4% • Nucleus 1,861,975 1,618,199 15.1% 771,344 695,089 11.0% • Plasma 199,945 184,482 8.4% 77,743 81,305 (4.4%) FFB purchased (tonnes) 243,439 267,265 (8.9%)
Slide 16: Production Trends
Production Trends FFB Production CPO Production Note: Data includes two months production contribution from Pacific Agri Resources, which was acquired in July 2015. 16
Slide 17: Oil Palm Plantation Area
Oil Palm Plantation Area As at 30 Sept 2015 As at 30 Sept 2014 As at 31 Dec 2014 Area (ha) % of Total Area (ha) % of Total Area (ha) Planted Nucleus 176,592 86% 160,745 85% 165,936 - Mature 128,034 62% 114,143 60% 114,377 - Immature 48,558 24% 46,602 25% 51,559 Planted Plasma 29,039 14% 27,576 15% 2
Slide 18: Plantation Age Profile
Plantation Age Profile As at 30 September 2015 Age Profile Age Area (ha) % of Total Old 21% 0-3 years (Immature) 57,795 28% Immature 28% 4-7 years (Young) 55,775 27% Prime 8-17 years (Prime) 48,977 24% 24% ≥ 18 years (Old) 43,084 21% Young 27% Total 205,631 100% Weighted average age of ~ 9 years Not
Slide 19: Group Updates
fait Group Updates RESOURCES
Slide 20: Group Updates
Group Updates Outlook Recent recovery in palm oil prices was driven mainly by concerns over the current dry weather that could potentially disrupt supply. Coupled with the implementation of Indonesia’s biodiesel policy, the Group expects a moderate recovery in palm oil prices. On the productio
Slide 21: Sustainability Updates
Sustainability Updates On 1 July 2015 – Introduced the Sustainable Palm Oil Policy No development on High Carbon Stock forest and High Conservation Value areas No development on peat areas (regardless of depth) No exploitation of people and local communities Observe a strict zero-burning p
Slide 22: 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 23: Contact Information
Contact Information For further information, please contact: Investor Relations [email protected] First Resources Limited 8 Temasek Boulevard #36-02 Suntec Tower Three Singapore 038988 Tel: +65 6602 0200 Fax: +65 6333 6711 Website: www.first-resources.com 23
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