First Resources Ltd. (Singapore) · SGX:EB5
First Resources Ltd. (Singapore) — First Resources — Q1 2011 Earnings Presentation
16 slides from First Resources Ltd. (Singapore)'s earnings presentation, May 13, 2011
Slide 1: First Resources Limited First Quarter 2011 Results Presentation
First Resources Limited First Quarter 2011 Results Presentation 13 May 2011 | Singapore Delivering Growth and Returns
Slide 2: Table of Contents
Table of Contents Executive Summary 3 1Q2011 Financial Performance 4 1Q2011 Operational Performance 8 Other Updates 13 2
Slide 3: Executive Summary – 1Q2011
Executive Summary – 1Q2011 Strong Financial Performance as Group Benefits from Higher Selling Prices EBITDA increased by 54.9% to US$58.7million EBITDA margin increased to 64.7% Net profit increased by 20.1% to US$30.6million Leverage ratios remain healthy due to strong operating cashflow
Slide 4: 1Q2011 Financial Performance
1Q2011 Financial Performance
Slide 5: Income Statement Highlights
Income Statement Highlights US$’million 1Q2011 1Q2010 Change Sales 90.8 64.1 41.7% Cost of sales (27.4) (25.9) 5.6% Gross profit 63.3 38.1 66.2% EBITDA(1) 58.7 37.9 54.9% Net profit attributable to owners of the parent 30.6 25.5 20.1% Gross margin 69.8% 59.5% EBITDA margin 64.7% 59.2% (1) Profit fro
Slide 6: 1Q2011 Performance review
1Q2011 Performance review Higher Sales Sales grew by 41.7% to US$90.8million Improvement due to increases in average selling prices of palm oil and palm kernel Sales volume of palm oil decreased marginally as part of the production has not yet been delivered Increased Cost of Sales and Ope
Slide 7: Balance Sheet Highlights
Balance Sheet Highlights US$’million 31 Mar 2011 31 Dec 2010 Total Assets 1,346.8 1,235.1 Cash and bank balances 258.2 209.0 Total Liabilities 523.1 490.2 Interest bearing debts(1) 333.4 305.7 Total Equity 823.7 744.9 Net Debt(2)/Total Equity 0.09x 0.13x Net Debt(2)/EBITDA(3) 0.32x 0.47x EBITDA/Inte
Slide 8: 1Q2011 Operational Performance
1Q2011 Operational Performance
Slide 9: Operational Highlights
Operational Highlights 1Q2011 1Q2010 Change Production FFB Total (tonne) 373,536 297,682 25.5% FFB Nucleus 337,965 271,022 24.7% FFB Plasma 35,571 26,660 33.4% CPO (tonne) 88,021 71,132 23.7% PK (tonne) 20,070 16,454 22.0% Efficiency FFB Yield (tonne/ha) 4.4 3.8 CPO Yield (tonne/ha) 1.0 0.9 CPO Extr
Slide 10: Production Trends
Production Trends FFB Production ‘000 tonnes 500 442 436 402 400 371 322 338 300 299 300 271 200 100 37 38 44 41 42 32 27 28 36 0 1Q2009 2Q2009 3Q2009 4Q2009 1Q2010 2Q2010 3Q2010 4Q2010 1Q2011 FFB Nucleus FFB Plasma CPO Production ‘000 tonnes 125 111 116 108 98 100 85 88 77 78 71 75 50 25 0 1Q2009 2
Slide 11: Plantation Area
Plantation Area Investing for growth - added 3,412ha in 1Q2011 As at 31 March 2011 As at 31 December 2010 Area (ha) % of Total Area (ha) % of Total Planted Nucleus 111,102 89% 107,664 89% - Mature 74,704 60% 69,404 57% - Immature 36,398 29% 38,620 32% Planted Plasma (1) 13,140 11% 13,166 11% - Matur
Slide 12: Plantation Age Profile
Plantation Age Profile As at 31 March 2011 Age Profile Age Area (ha) % of Total Old 4% 0-3 years (Immature) 38,546 31% Immature Prime 31% 43% 4-7 years (Young) 27,268 22% 8-17 years (Prime) 53,893 43% Young ≥18 years (Old) 4,535 4% 22% Total 124,242 100% Weighted average age of ~ 8 years 12
Slide 13: Other Updates
Other Updates RESOURCES
Slide 14: Other Updates
Other Updates Completion of acquisition of PT Kalimantan Green Persada and subsidiaries in East Kalimantan Added >100,000 hectares of gross land bank to support expansion plans To allocate new areas to oil palm and rubber plantings Expect new plantings to start only in second half of 2012 at
Slide 15: 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 16: Contact Information
Contact Information If you need further information, please contact: Investor Relations [email protected] First Resources Limited 8 Temasek Boulevard #36-02 Suntec Tower Three Singapore 038988 Tel: +65 6333 6788 Fax: +65 6333 6711 Website: www.first-resources.com 16