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Financials

First Resources Limited Annual Report 2025

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Consolidated Income Statement

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Consolidated Income Statement from First Resources Limited Annual Report 2025
Metric / unit	2025Group	2024Group	Source
Consolidated Income Statement
SalesUSD thousand	1,661,077	1,038,754	PDF p. 58
Cost of salesUSD thousand	(965,372)	(593,052)	PDF p. 58
Gross profitUSD thousand	695,705	445,702	PDF p. 58
Fair value changes of biological assetsUSD thousand	(5,805)	22,681	PDF p. 58
Selling and distribution costsUSD thousand	(129,973)	(91,583)	PDF p. 58
General and administrative expensesUSD thousand	(58,248)	(37,127)	PDF p. 58
Other operating expensesUSD thousand	(7,058)	(2,661)	PDF p. 58
Profit from operationsUSD thousand	494,621	337,012	PDF p. 58
Gain on foreign exchangeUSD thousand	3,285	2,286	PDF p. 58
Derivative financial instruments gain / lossUSD thousand	439	(118)	PDF p. 58
Net financial expensesUSD thousand	(29,633)	(7,115)	PDF p. 58
Other non-operating income / expensesUSD thousand	14,967	(1,681)	PDF p. 58
Profit before taxUSD thousand	483,679	330,384	PDF p. 58
Tax expenseUSD thousand	(110,124)	(72,276)	PDF p. 58
Profit from continuing operationsUSD thousand	373,555	258,108	PDF p. 58
Loss after tax from discontinued operationsUSD thousand	(953)	–	PDF p. 58
Profit for the yearUSD thousand	372,602	258,108	PDF p. 58
Profit attributable to ownersUSD thousand	353,933	245,792	PDF p. 58
Profit attributable to non-controlling interestsUSD thousand	18,669	12,316	PDF p. 58
Total profit attributableUSD thousand	372,602	258,108	PDF p. 58

Definitions & sources

Original report: PDF p. 58 ↗

Earnings per Share

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Earnings per Share from First Resources Limited Annual Report 2025
Metric / unit	2025Group	2024Group	Source
Earnings per Share
Basic earnings per shareUS cents per share	22.85	15.82	PDF p. 58
Diluted earnings per shareUS cents per share	22.85	15.82	PDF p. 58

Definitions & sources

Original report: PDF p. 58 ↗

Consolidated Comprehensive Income

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Consolidated Comprehensive Income from First Resources Limited Annual Report 2025
Metric / unit	2025Group	2024Group	Source
Consolidated Comprehensive Income
Profit for the yearUSD thousand	372,602	258,108	PDF p. 59
Remeasurement gain on defined benefit planUSD thousand	10,902	3,176	PDF p. 59
Non-reclassifiable OCI subtotalUSD thousand	10,902	3,176	PDF p. 59
Fair value changes on cash flow hedgesUSD thousand	(11,180)	1,353	PDF p. 59
Cash flow hedge amounts transferred to income statementUSD thousand	1,244	(3,110)	PDF p. 59
Foreign currency translationUSD thousand	(64,594)	(73,630)	PDF p. 59
Reclassifiable OCI subtotalUSD thousand	(74,530)	(75,387)	PDF p. 59
Other comprehensive income net of taxUSD thousand	(63,628)	(72,211)	PDF p. 59
Total comprehensive incomeUSD thousand	308,974	185,897	PDF p. 59
Comprehensive income attributable to ownersUSD thousand	293,991	176,206	PDF p. 59
Comprehensive income attributable to non-controlling interestsUSD thousand	14,983	9,691	PDF p. 59
Total comprehensive income attributableUSD thousand	308,974	185,897	PDF p. 59

Definitions & sources

Original report: PDF p. 59 ↗

Balance Sheets — Assets

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Balance Sheets — Assets from First Resources Limited Annual Report 2025
Metric / unit	2025Group	2024Group	2025Company	2024Company	Source
Balance Sheets — Assets
Bearer plantsUSD thousand	821,981	555,621	–	–	PDF p. 60
Non-current plasma receivablesUSD thousand	40,241	38,875	–	–	PDF p. 60
Property, plant and equipmentUSD thousand	787,980	651,970	267	146	PDF p. 60
Land use rightsUSD thousand	61,797	33,174	–	–	PDF p. 60
Other investmentsUSD thousand	64,374	–	–	–	PDF p. 60
Non-current deferred chargesUSD thousand	10,639	–	–	–	PDF p. 60
Investment in subsidiariesUSD thousand	–	–	1,123,317	879,609	PDF p. 60
GoodwillUSD thousand	126,712	72,587	–	–	PDF p. 60
Other intangible assetsUSD thousand	24,652	25,491	–	2	PDF p. 60
Non-current derivative financial assetsUSD thousand	6	1,056	6	1,056	PDF p. 60
Tax recoverableUSD thousand	81,968	81,406	–	–	PDF p. 60
Deferred tax assetsUSD thousand	36,131	31,331	565	329	PDF p. 60
Other non-current assetsUSD thousand	2,900	2,696	–	–	PDF p. 60
Total non-current assetsUSD thousand	2,059,381	1,494,207	1,124,155	881,142	PDF p. 60
Biological assetsUSD thousand	54,662	50,551	–	–	PDF p. 60
Current plasma receivablesUSD thousand	5,176	1,811	–	–	PDF p. 60
InventoriesUSD thousand	269,488	160,214	–	–	PDF p. 60
Trade receivablesUSD thousand	124,574	42,681	–	–	PDF p. 60
Other receivablesUSD thousand	4,812	674	184	173	PDF p. 60
Current derivative financial assetsUSD thousand	396	8,078	388	2,715	PDF p. 60
Advances for property, plant and equipmentUSD thousand	1,372	5,850	–	–	PDF p. 60
Other advances and prepaymentsUSD thousand	10,458	5,542	45	60	PDF p. 60
Current deferred chargesUSD thousand	2,292	–	–	–	PDF p. 60
Prepaid taxesUSD thousand	62,938	25,017	–	–	PDF p. 60
Restricted cash balancesUSD thousand	2,804	51,662	–	–	PDF p. 60
Cash and cash equivalentsUSD thousand	289,402	105,533	8,263	3,298	PDF p. 60
Total current assetsUSD thousand	828,374	457,613	8,880	6,246	PDF p. 60
Assets held for saleUSD thousand	4,803	–	–	–	PDF p. 60
Total assetsUSD thousand	2,892,558	1,951,820	1,133,035	887,388	PDF p. 60

Definitions & sources

Original report: PDF p. 60 ↗

Balance Sheets — Liabilities and Equity

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Balance Sheets — Liabilities and Equity from First Resources Limited Annual Report 2025
Metric / unit	2025Group	2024Group	2025Company	2024Company	Source
Balance Sheets — Liabilities and Equity
Trade payablesUSD thousand	65,114	54,043	–	193	PDF p. 61
Other payables and accrualsUSD thousand	74,539	60,189	4,945	5,106	PDF p. 61
Advances from customersUSD thousand	6,908	10,697	–	–	PDF p. 61
Current loans and borrowingsUSD thousand	96,812	86,758	59,502	167,384	PDF p. 61
Current derivative financial liabilitiesUSD thousand	1,550	998	355	–	PDF p. 61
Provision for taxUSD thousand	59,263	33,480	–	–	PDF p. 61
Total current liabilitiesUSD thousand	304,186	246,165	64,802	172,683	PDF p. 61
Non-current loans and borrowingsUSD thousand	857,619	183,367	288,007	119,833	PDF p. 61
Non-current derivative financial liabilitiesUSD thousand	1,163	–	1,163	–	PDF p. 61
Provision for post-employment benefitsUSD thousand	15,971	26,819	–	–	PDF p. 61
Deferred tax liabilitiesUSD thousand	42,910	7,953	–	–	PDF p. 61
Total non-current liabilitiesUSD thousand	917,663	218,139	289,170	119,833	PDF p. 61
Liabilities associated with assets held for saleUSD thousand	3,079	–	–	–	PDF p. 61
Total liabilitiesUSD thousand	1,224,928	464,304	353,972	292,516	PDF p. 61
Net assetsUSD thousand	1,667,630	1,487,516	779,063	594,872	PDF p. 61
Share capitalUSD thousand	394,913	394,913	394,913	394,913	PDF p. 61
Treasury sharesUSD thousand	(35,430)	(35,142)	(35,430)	(35,142)	PDF p. 61
Other reservesUSD thousand	(306,009)	(230,255)	9,425	14,349	PDF p. 61
Retained earningsUSD thousand	1,484,124	1,249,936	410,155	220,752	PDF p. 61
Equity attributable to ownersUSD thousand	1,537,598	1,379,452	779,063	594,872	PDF p. 61
Non-controlling interestsUSD thousand	130,032	108,064	–	–	PDF p. 61
Total equityUSD thousand	1,667,630	1,487,516	779,063	594,872	PDF p. 61

Definitions & sources

Original report: PDF p. 61 ↗

Cash Flow — Operating Activities

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Cash Flow — Operating Activities from First Resources Limited Annual Report 2025
Metric / unit	2025Group	2024Group	Source
Cash Flow — Operating Activities
Profit before tax from continuing operationsUSD thousand	483,679	330,384	PDF p. 65
Loss before tax from discontinued operationsUSD thousand	(898)	–	PDF p. 65
Total profit before taxUSD thousand	482,781	330,384	PDF p. 65
Depreciation of bearer plants and property, plant and equipmentUSD thousand	111,103	83,250	PDF p. 65
Amortisation of land use rights and other intangible assetsUSD thousand	3,548	1,550	PDF p. 65
Gain / loss on disposal of bearer plants and property, plant and equipmentUSD thousand	(844)	185	PDF p. 65
Loss on disposal of land use rightsUSD thousand	–	11	PDF p. 65
Write-off of bearer plants and property, plant and equipmentUSD thousand	2,455	3,273	PDF p. 65
Impairment of bearer plantsUSD thousand	884	2,869	PDF p. 65
Financial expensesUSD thousand	38,465	13,260	PDF p. 65
Interest incomeUSD thousand	(8,832)	(6,145)	PDF p. 65
Write-back of expected credit lossesUSD thousand	(153)	(191)	PDF p. 65
Biological assets fair value changesUSD thousand	5,805	(22,681)	PDF p. 65
Derivative financial instruments gain / lossUSD thousand	(439)	118	PDF p. 65
Plasma receivable carrying value gainUSD thousand	(2,049)	(929)	PDF p. 65
Loss on disposal of subsidiariesUSD thousand	274	1,261	PDF p. 65
Operating cash before working capital changesUSD thousand	632,998	406,215	PDF p. 65
Inventories working capital changeUSD thousand	(109,112)	(47,782)	PDF p. 65
Receivables and other assets working capital changeUSD thousand	(126,468)	(37,334)	PDF p. 65
Payables and other liabilities working capital changeUSD thousand	9,039	43,699	PDF p. 65
Unrealised translation differencesUSD thousand	(10,868)	(911)	PDF p. 65
Cash generated from operationsUSD thousand	395,589	363,887	PDF p. 65
Financial expenses paidUSD thousand	(48,970)	(12,141)	PDF p. 65
Interest income receivedUSD thousand	8,781	6,153	PDF p. 65
Tax paidUSD thousand	(68,931)	(46,664)	PDF p. 65
Net cash generated from operating activitiesUSD thousand	286,469	311,235	PDF p. 65

Definitions & sources

Original report: PDF p. 65 ↗

Cash Flow — Investing, Financing and Cash Reconciliation

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Cash Flow — Investing, Financing and Cash Reconciliation from First Resources Limited Annual Report 2025
Metric / unit	2025Group	2024Group	Source
Cash Flow — Investing, Financing and Cash Reconciliation
Capital expenditure on bearer plantsUSD thousand	(80,807)	(41,823)	PDF p. 66
Capital expenditure on property, plant and equipmentUSD thousand	(146,268)	(196,930)	PDF p. 66
Advances for property, plant and equipmentUSD thousand	(1,602)	(5,967)	PDF p. 66
Development costs on plasma receivablesUSD thousand	(12,119)	(15,371)	PDF p. 66
Proceeds from plasma receivablesUSD thousand	18,353	15,499	PDF p. 66
Additions to land use rightsUSD thousand	(9,047)	(8,617)	PDF p. 66
Additions to other intangible assetsUSD thousand	(145)	(32)	PDF p. 66
Additions to other investmentsUSD thousand	(78,664)	–	PDF p. 66
Disposal proceeds from bearer plants and property, plant and equipmentUSD thousand	6,789	1,835	PDF p. 66
Disposal proceeds from land use rightsUSD thousand	–	37	PDF p. 66
Subsidiary disposal proceeds net of cash disposedUSD thousand	25	6,881	PDF p. 66
Subsidiary acquisition net cash outflowUSD thousand	(324,360)	–	PDF p. 66
Net cash used in investing activitiesUSD thousand	(627,845)	(244,488)	PDF p. 66
Proceeds from bank loansUSD thousand	873,743	163,419	PDF p. 66
Repayment of bank loansUSD thousand	(234,772)	(128,654)	PDF p. 66
Payment of lease liability obligationsUSD thousand	(3,660)	(4,916)	PDF p. 66
Decrease in restricted cash balancesUSD thousand	48,858	234	PDF p. 66
Dividends paidUSD thousand	(129,877)	(84,083)	PDF p. 66
Ordinary share buy-backUSD thousand	(376)	(16,164)	PDF p. 66
Acquisition of additional interest in subsidiaryUSD thousand	(25,750)	–	PDF p. 66
Net financing cash flowUSD thousand	528,166	(70,164)	PDF p. 66
Net change in cash and cash equivalentsUSD thousand	186,790	(3,417)	PDF p. 66
Exchange rate changesUSD thousand	(2,921)	(2,024)	PDF p. 66
Opening cash and cash equivalentsUSD thousand	105,533	110,974	PDF p. 66
Closing cash and cash equivalentsUSD thousand	289,402	105,533	PDF p. 66

Definitions & sources

Original report: PDF p. 66 ↗

Group Changes in Equity 2025

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Group Changes in Equity 2025 from First Resources Limited Annual Report 2025
Metric / unit	2025GroupShare capital	2025GroupTreasury shares	2025GroupOther reserves	2025GroupRetained earnings	2025GroupEquity attributable to owners	2025GroupNon-controlling interests	2025GroupTotal equity	Source
Group Changes in Equity 2025
Opening balanceUSD thousand	394,913	(35,142)	(230,255)	1,249,936	1,379,452	108,064	1,487,516	PDF p. 62
Profit for the yearUSD thousand	–	–	–	353,933	353,933	18,669	372,602	PDF p. 62
Defined benefit plan remeasurementUSD thousand	–	–	–	10,052	10,052	850	10,902	PDF p. 62
Cash flow hedges fair value changeUSD thousand	–	–	(9,936)	–	(9,936)	–	(9,936)	PDF p. 62
Foreign currency translationUSD thousand	–	–	(60,058)	–	(60,058)	(4,536)	(64,594)	PDF p. 62
Other comprehensive income net of taxUSD thousand	–	–	(69,994)	10,052	(59,942)	(3,686)	(63,628)	PDF p. 62
Total comprehensive incomeUSD thousand	–	–	(69,994)	363,985	293,991	14,983	308,974	PDF p. 62
Dividends paidUSD thousand	–	–	–	(129,797)	(129,797)	(80)	(129,877)	PDF p. 62
Buy-back of ordinary sharesUSD thousand	–	(376)	–	–	(376)	–	(376)	PDF p. 62
Reissuance of treasury sharesUSD thousand	–	88	6	–	94	–	94	PDF p. 62
Acquisition of subsidiaryUSD thousand	–	–	–	–	–	27,049	27,049	PDF p. 62
Acquisition of additional subsidiary interestUSD thousand	–	–	(3,392)	–	(3,392)	(22,358)	(25,750)	PDF p. 62
Increase in non-controlling interests without change in controlUSD thousand	–	–	(2,374)	–	(2,374)	2,374	–	PDF p. 62
Total transactions with ownersUSD thousand	–	(288)	(5,760)	(129,797)	(135,845)	6,985	(128,860)	PDF p. 62
Closing balanceUSD thousand	394,913	(35,430)	(306,009)	1,484,124	1,537,598	130,032	1,667,630	PDF p. 62

Definitions & sources

Original report: PDF p. 62 ↗

Group Changes in Equity 2024

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Group Changes in Equity 2024 from First Resources Limited Annual Report 2025
Metric / unit	2024GroupShare capital	2024GroupTreasury shares	2024GroupOther reserves	2024GroupRetained earnings	2024GroupEquity attributable to owners	2024GroupNon-controlling interests	2024GroupTotal equity	Source
Group Changes in Equity 2024
Opening balanceUSD thousand	394,913	(19,060)	(158,154)	1,085,705	1,303,404	98,379	1,401,783	PDF p. 63
Profit for the yearUSD thousand	–	–	–	245,792	245,792	12,316	258,108	PDF p. 63
Defined benefit plan remeasurementUSD thousand	–	–	–	2,516	2,516	660	3,176	PDF p. 63
Cash flow hedges fair value changeUSD thousand	–	–	(1,757)	–	(1,757)	–	(1,757)	PDF p. 63
Foreign currency translationUSD thousand	–	–	(70,345)	–	(70,345)	(3,285)	(73,630)	PDF p. 63
Other comprehensive income net of taxUSD thousand	–	–	(72,102)	2,516	(69,586)	(2,625)	(72,211)	PDF p. 63
Total comprehensive incomeUSD thousand	–	–	(72,102)	248,308	176,206	9,691	185,897	PDF p. 63
Dividends paidUSD thousand	–	–	–	(84,077)	(84,077)	(6)	(84,083)	PDF p. 63
Buy-back of ordinary sharesUSD thousand	–	(16,164)	–	–	(16,164)	–	(16,164)	PDF p. 63
Reissuance of treasury sharesUSD thousand	–	82	2	–	84	–	84	PDF p. 63
Disposal of subsidiaryUSD thousand	–	–	(1)	–	(1)	–	(1)	PDF p. 63
Total transactions with ownersUSD thousand	–	(16,082)	1	(84,077)	(100,158)	(6)	(100,164)	PDF p. 63
Closing balanceUSD thousand	394,913	(35,142)	(230,255)	1,249,936	1,379,452	108,064	1,487,516	PDF p. 63

Definitions & sources

Original report: PDF p. 63 ↗

Company Changes in Equity 2025

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Company Changes in Equity 2025 from First Resources Limited Annual Report 2025
Metric / unit	2025CompanyShare capital	2025CompanyTreasury shares	2025CompanyOther reserves	2025CompanyRetained earnings	2025CompanyTotal equity	Source
Company Changes in Equity 2025
Opening balanceUSD thousand	394,913	(35,142)	14,349	220,752	594,872	PDF p. 64
Profit for the yearUSD thousand	–	–	–	319,200	319,200	PDF p. 64
Cash flow hedges fair value changeUSD thousand	–	–	(4,931)	–	(4,931)	PDF p. 64
Total comprehensive incomeUSD thousand	–	–	(4,931)	319,200	314,269	PDF p. 64
Dividends paidUSD thousand	–	–	–	(129,797)	(129,797)	PDF p. 64
Buy-back of ordinary sharesUSD thousand	–	(376)	–	–	(376)	PDF p. 64
Reissuance of treasury sharesUSD thousand	–	88	7	–	95	PDF p. 64
Total transactions with ownersUSD thousand	–	(288)	7	(129,797)	(130,078)	PDF p. 64
Closing balanceUSD thousand	394,913	(35,430)	9,425	410,155	779,063	PDF p. 64

Definitions & sources

Original report: PDF p. 64 ↗

Company Changes in Equity 2024

9 metrics

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Company Changes in Equity 2024 from First Resources Limited Annual Report 2025
Metric / unit	2024CompanyShare capital	2024CompanyTreasury shares	2024CompanyOther reserves	2024CompanyRetained earnings	2024CompanyTotal equity	Source
Company Changes in Equity 2024
Opening balanceUSD thousand	394,913	(19,060)	19,096	306,371	701,320	PDF p. 64
Profit for the yearUSD thousand	–	–	–	(1,542)	(1,542)	PDF p. 64
Cash flow hedges fair value changeUSD thousand	–	–	(4,749)	–	(4,749)	PDF p. 64
Total comprehensive incomeUSD thousand	–	–	(4,749)	(1,542)	(6,291)	PDF p. 64
Dividends paidUSD thousand	–	–	–	(84,077)	(84,077)	PDF p. 64
Buy-back of ordinary sharesUSD thousand	–	(16,164)	–	–	(16,164)	PDF p. 64
Reissuance of treasury sharesUSD thousand	–	82	2	–	84	PDF p. 64
Total transactions with ownersUSD thousand	–	(16,082)	2	(84,077)	(100,157)	PDF p. 64
Closing balanceUSD thousand	394,913	(35,142)	14,349	220,752	594,872	PDF p. 64

Definitions & sources

Original report: PDF p. 64 ↗

Five-year Group Financial Highlights

12 metrics

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Five-year Group Financial Highlights from First Resources Limited Annual Report 2025
Metric / unit	2021Group	2022Group	2023Group	2024Group	2025Group	Source
Five-year Group Financial Highlights
SalesUSD thousand	1,032,277	1,225,428	980,587	1,038,754	1,661,077	PDF p. 12
Gross profitUSD thousand	461,569	629,315	363,038	445,702	695,705	PDF p. 12
Biological assets fair value gain / lossUSD thousand	15,959	(11,475)	(1,137)	22,681	(5,805)	PDF p. 12
Profit from operationsUSD thousand	244,987	417,882	198,057	337,012	494,621	PDF p. 12
EBITDAUSD thousand	312,916	508,763	282,048	398,940	614,924	PDF p. 12
Profit before taxUSD thousand	245,988	427,510	196,990	330,384	483,679	PDF p. 12
Net profit attributable to ownersUSD thousand	161,108	325,196	145,395	245,792	353,933	PDF p. 12
Underlying net profitUSD thousand	149,245	334,211	146,567	228,809	358,175	PDF p. 12
Total assetsUSD thousand	1,873,602	1,832,725	1,774,844	1,951,820	2,892,558	PDF p. 12
Total liabilitiesUSD thousand	602,503	433,810	373,061	464,304	1,224,928	PDF p. 12
Total equityUSD thousand	1,271,099	1,398,915	1,401,783	1,487,516	1,667,630	PDF p. 12
Equity attributable to ownersUSD thousand	1,197,144	1,309,666	1,303,404	1,379,452	1,537,598	PDF p. 12

Definitions & sources

Original report: PDF p. 12 ↗

Five-year Financial Statistics

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Five-year Financial Statistics from First Resources Limited Annual Report 2025
Metric / unit	2021Group	2022Group	2023Group	2024Group	2025Group	Source
Five-year Financial Statistics
EBITDA margin%	30.3	41.5	28.8	38.4	37.0	PDF p. 12
Basic earnings per shareUS cents per share	10.21	20.65	9.28	15.82	22.85	PDF p. 12
Net gearing ratiotimes	0.02	(0.10)	0.05	0.08	0.40	PDF p. 12
EBITDA interest coveragetimes	22.8	54.6	39.3	32.9	12.5	PDF p. 12
Net asset value per shareUSD per share	0.76	0.83	0.83	0.89	0.99	PDF p. 12
Return on assets%	9.6	18.3	8.5	13.9	15.4	PDF p. 12
Return on equity%	14.3	25.9	11.1	18.3	24.3	PDF p. 12

Definitions & sources

Original report: PDF p. 12 ↗

Cash and restricted balances

3 metrics

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Cash and restricted balances from First Resources Limited Annual Report 2025
Metric / unit	2025Group	2024Group	2025Company	2024Company	Source
Cash and restricted balances
Cash at banks and on handUSD thousand	289,402	105,533	8,263	3,298	PDF p. 119
Restricted cash balancesUSD thousand	2,804	51,662	–	–	PDF p. 119
Cash and bank balances totalUSD thousand	292,206	157,195	8,263	3,298	PDF p. 119

Definitions & sources

Original report: PDF p. 119 ↗

Group cash offsetting

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Group cash offsetting from First Resources Limited Annual Report 2025
Metric / unit	2025Group	2024Group	Source
Group cash offsetting
Gross cash before offsettingUSD thousand	555,009	348,485	PDF p. 119
Bank overdrafts offsetUSD thousand	(265,607)	(242,952)	PDF p. 119
Net cash in balance sheetUSD thousand	289,402	105,533	PDF p. 119

Definitions & sources

Original report: PDF p. 119 ↗

Cash currency composition

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Cash currency composition from First Resources Limited Annual Report 2025
Metric / unit	2025Group	2024Group	2025Company	2024Company	Source
Cash currency composition
Indonesian RupiahUSD thousand	67,808	42,905	67	–	PDF p. 119
United States DollarUSD thousand	220,287	106,081	6,247	260	PDF p. 119
Singapore DollarUSD thousand	2,961	3,468	1,949	3,038	PDF p. 119
OthersUSD thousand	1,150	4,741	–	–	PDF p. 119
Cash and bank balances totalUSD thousand	292,206	157,195	8,263	3,298	PDF p. 119

Definitions & sources

Original report: PDF p. 119 ↗

Group borrowings composition

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Group borrowings composition from First Resources Limited Annual Report 2025
Metric / unit	2025Group	2024Group	Source
Group borrowings composition
Current bank loansUSD thousand	95,076	83,028	PDF p. 122
Current lease liabilitiesUSD thousand	1,736	3,730	PDF p. 122
Total current borrowingsUSD thousand	96,812	86,758	PDF p. 122
Non-current bank loansUSD thousand	857,495	181,431	PDF p. 122
Non-current lease liabilitiesUSD thousand	124	1,936	PDF p. 122
Total non-current borrowingsUSD thousand	857,619	183,367	PDF p. 122
Total borrowingsUSD thousand	954,431	270,125	PDF p. 122

Definitions & sources

Original report: PDF p. 122 ↗

Company borrowings composition

4 metrics

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Company borrowings composition from First Resources Limited Annual Report 2025
Metric / unit	2025Company	2024Company	Source
Company borrowings composition
Current bank loansUSD thousand	59,502	74,215	PDF p. 122
Current bank overdraftUSD thousand	–	93,169	PDF p. 122
Non-current bank loansUSD thousand	288,007	119,833	PDF p. 122
Total borrowingsUSD thousand	347,509	287,217	PDF p. 122

Definitions & sources

Original report: PDF p. 122 ↗

Dividends paid and proposed

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Dividends paid and proposed from First Resources Limited Annual Report 2025
Metric / unit	2025Group and Company	2024Group and Company	Source
Dividends paid and proposed
Final dividend paid for prior financial yearUSD thousand	75,531	42,443	PDF p. 146
Interim dividend paid for current financial yearUSD thousand	54,266	41,634	PDF p. 146
Total ordinary dividends paidUSD thousand	129,797	84,077	PDF p. 146
Proposed final dividend not recognised as liabilityUSD thousand	124,658	75,531	PDF p. 146

Definitions & sources

Original report: PDF p. 146 ↗

Where the money comes from

Segment information

By business

Segment information 9 lines

Segment information
Item / unit	2025Plantations and Palm Oil Mills	2025Refinery and Processing	2025Inter-segment elimination	2025Total	2024Plantations and Palm Oil Mills	2024Refinery and Processing	2024Inter-segment elimination	2024Total	Source
Sales
External customersUS$'000	201,663	1,459,414	–	1,661,077	218,940	819,814	–	1,038,754	PDF p. 144 PDF p. 145
Inter-segmentUS$'000	1,121,055	–	(1,211,055)	–	704,593	–	(704,593)	–	PDF p. 144 PDF p. 145
Total salesUS$'000	1,322,718	1,459,414	(1,211,055)	1,661,077	923,533	819,814	(704,593)	1,038,754	PDF p. 144 PDF p. 145
Results
EBITDAUS$'000	575,370	64,645	(25,091)	614,924	393,440	18,405	(12,905)	398,940	PDF p. 144 PDF p. 145
Depreciation and amortisationUS$'000	(102,849)	(11,802)	–	(114,651)	(77,110)	(7,690)	–	(84,800)	PDF p. 144 PDF p. 145
Loss arising from changes in fair value of biological assetsUS$'000	(5,805)	–	–	(5,805)					PDF p. 144
Write-back for expected credit lossesUS$'000	153	–	–	153	191	–	–	191	PDF p. 144 PDF p. 145
Profit from operationsUS$'000	466,869	52,843	(25,091)	494,621	339,202	10,715	(12,905)	337,012	PDF p. 144 PDF p. 145
Gain arising from changes in fair value of biological assetsUS$'000					22,681	–	–	22,681	PDF p. 145

Notes

Two reportable segments. Segment performance is evaluated based on EBITDA. Group financing (including finance costs) and income taxes are managed on a group basis and are not allocated to operating segments.

Transfer prices between operating segments are on an arm's length basis in a manner similar to transactions with third parties.

Reconciling items below Profit from operations are shown only in the Total column (empty strings for other columns). Inter-segment sales figure of 1,121,055 and elimination (1,211,055) are as printed.

No segment assets, liabilities or capital expenditure are printed.

Reconciling items below Profit from operations are shown only in the Total column (empty strings for other columns).

By geography

Geographical information - Sales 7 lines

Geographical information - Sales
Item / unit	2025Sales by geographical location of customers	2024Sales by geographical location of customers	Source
Sales
SingaporeUS$'000	447,994	333,373	PDF p. 145
IndonesiaUS$'000	1,109,528	576,712	PDF p. 145
EuropeUS$'000	–	36,401	PDF p. 145
ChinaUS$'000	58,150	12,794	PDF p. 145
MalaysiaUS$'000	13,218	68,624	PDF p. 145
OthersUS$'000	32,187	10,850	PDF p. 145
TotalUS$'000	1,661,077	1,038,754	PDF p. 145

Notes

The Group operates primarily in Singapore and Indonesia. Sales are based on the geographical location of the customers. The total row has no printed label.

Geographical information - Non-current assets 3 lines

Geographical information - Non-current assets
Item / unit	2025Non-current assets by geographical location of assets	2024Non-current assets by geographical location of assets	Source
Non-current assets
SingaporeUS$'000	116,800	66,773	PDF p. 146
IndonesiaUS$'000	1,709,222	1,274,766	PDF p. 146
TotalUS$'000	1,826,022	1,341,539	PDF p. 146

Notes

Non-current assets information presented above consist of bearer plants, property, plant and equipment, land use rights, goodwill, other intangible assets and other non-current assets.

Major customers: sales to two (2024: one) major customer(s) amounted to US$852.1 million (2024: US$196.5 million), all derived from the refinery and processing segment. The total row has no printed label.

Debt

Borrowings

Note 41(e) Group contractual undiscounted maturity - debt items

Note 41(e) Group contractual undiscounted maturity - debt items
Item / unit	2025Group One year or less	2025Group One to five years	2025Group Over five years	2025Group Total	Source
Group 2025
Bank loansUS$'000	164,681	644,667	485,905	1,295,253	PDF p. 141
Lease liabilitiesUS$'000	1,836	130	–	1,966	PDF p. 141

Notes

Based on contractual undiscounted repayment obligations.

Note 41(e) Group contractual undiscounted maturity 2024 and Company - debt items

Note 41(e) Group contractual undiscounted maturity 2024 and Company - debt items
Item / unit	2024Group One year or less	2024Group One to five years	2024Group Over five years	2024Group Total	Source
Group 2024
Bank loansUS$'000	97,877	171,412	46,627	315,916	PDF p. 142
Lease liabilitiesUS$'000	4,117	2,045	–	6,162	PDF p. 142
Company 2025 (columns: 2025 one year or less, one to five, over five, total)
Bank loansUS$'000	75,047	318,108	–	393,155	PDF p. 142
Company 2024 (columns: 2024 one year or less, one to five, over five, total)
Bank loansUS$'000	83,644	116,120	20,527	220,291	PDF p. 142
Bank overdraftUS$'000	93,728	–	–	93,728	PDF p. 142

Notes

Columns apply to the section stated in each row: Group 2024, Company 2025, Company 2024. Contractual undiscounted amounts.

Borrowing notes 2 tables

Loans and borrowings from financial institutions - Company

Loans and borrowings from financial institutions - Company
Item / unit	2025Company interest rate (per annum) %	2024Company interest rate (per annum) %	2025Company carrying amount US$'000	2024Company carrying amount US$'000	Source
Current
Bank overdraft% / US$'000	–	0.6	–	93,169	PDF p. 122

Notes

The Company's 2024 bank overdraft has been netted against Group cash at banks.

Currency denomination of loans and borrowings

Currency denomination of loans and borrowings
Item / unit	2025Group US$'000	2024Group US$'000	2025Company US$'000	2024Company US$'000	Source
Currency
Indonesian RupiahUS$'000	578,199	67,263	–	–	PDF p. 123
United States DollarUS$'000	376,232	202,862	347,509	287,217	PDF p. 123
TotalUS$'000	954,431	270,125	347,509	287,217	PDF p. 123

Payout

Dividends & distributions

Dividend policy

Item	Value	Period / scope	Source
Dividend Policy	The Company strives to provide sustainable dividend payments to our shareholders, while remaining committed to an optimal capital structure and maintaining flexibility to pursue growth.	Company policy, FY2025	PDF p. 45
Revised dividend policy	Backed by its strong balance sheet, First Resources’ dividend policy has been revised to distribute up to 60% of the Group’s underlying net profit annually, an increase from 50% previously.	Effective from financial year ending 31 December 2026	PDF p. 45

Dividends declared and proposed

Item	Value	Period / scope	Source
Interim tax exempt (one-tier) dividend for 2025	4.50 Singapore cents per share	FY2025 interim, Group and Company, tax exempt (one-tier), declared and paid	PDF p. 146
Interim tax exempt (one-tier) dividend for 2025	3.50 Singapore cents per share	Comparative: FY2024 interim, Group and Company, tax exempt (one-tier)	PDF p. 146
Final tax exempt (one-tier) dividend for 2025	10.20 Singapore cents per share	FY2025 final, proposed, subject to AGM approval, Group and Company, tax exempt (one-tier) · As at 2025-12-31	PDF p. 146
Final tax exempt (one-tier) dividend for 2024	6.30 Singapore cents per share	Comparative: FY2024 final, Group and Company, tax exempt (one-tier), paid in 2025	PDF p. 146

Payout

Item	Value	Period / scope	Source
annual dividend payout ratio	50%	FY2025, % of Group's underlying net profit	PDF p. 45

Extracted from First Resources Limited Annual Report 2025 and checked against the cited pages; see the original report for full context.

Auditor’s report

Audit & risk signals

Audit opinion

Item	Value	Period / scope	Source
Ernst & Young LLP	Ernst & Young LLP	Group	PDF p. 57
Engagement partner	Vincent Toong	Group	PDF p. 57
Opinion	properly drawn up in accordance with the provisions of the Companies Act 1967	Group and Company	PDF p. 54

Key audit matters

Item	Value	Period / scope	Source
Goodwill Impairment	The audit procedures over management’s annual impairment test were significant to our audit because the assessment process is complex, involved significant management judgement and estimates, and is based on a number of key assumptions as disclosed in Note 18 to the financial statements.	Group	PDF p. 55
Accounting for the acquisition of PT Austindo Nusantara Jaya Tbk. (“PT ANJ”)	The identification of the assets and liabilities to be recognised and their respective measurement at fair value are inherently judgemental.	Group	PDF p. 55

Extracted from First Resources Limited Annual Report 2025 and checked against the cited pages; see the original report for full context.

How to read these figures

Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.

Comparative figures follow First Resources Limited Annual Report 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.

Financial statements are in USD thousands; EPS is in US cents. Continuing and discontinued operations, owners and non-controlling interests are presented separately.

Group and Company balances are separate. Assets and liabilities held for sale appear outside the current-asset and current-liability subtotals. Restricted cash is separate from cash equivalents.

Five-year comparisons cover FY2021–2025. NAV per share is in USD; EPS is in US cents. EBITDA excludes depreciation, amortisation, expected credit losses and biological-asset fair-value changes. Underlying profit adjusts reported owners’ profit for expected credit losses and biological-asset fair-value changes. Net gearing is borrowings less cash, divided by total equity; ROA and ROE use average assets and average owners’ equity respectively.

Cash is net of legally offset bank overdrafts; restricted deposits are excluded from cash equivalents. The release of restricted cash follows the report’s financing classification. Group borrowings include lease liabilities. Company borrowings include its 2024 overdraft, which is offset against Group cash.

Group current bank loans mature in 2026 at 4.4–8.6% interest (2024: 5.2–6.8%); non-current bank loans mature in 2027–2037 at 5.0–8.6% (6.1–9.4%). Lease rates are 2.6–13.2%, with current maturities in 2026 and non-current maturities in 2027–2030. Company current bank-loan rates are 4.4–5.8% (6.2–6.8%); non-current rates are 5.0–5.8% (6.1–6.8%), with maturities in 2027–2030. Secured Group loans are USD 118.8 million (61.6 million); undrawn committed unsecured facilities are USD 97.7 million (300.0 million).

Dividend amounts are in USD thousands, while per-share dividends are in Singapore cents. The prior-year final dividend paid was 6.30 cents (2024 comparison: 3.70); the interim dividend was 4.50 cents (3.50). The proposed final dividend is 10.20 cents (6.30), subject to AGM approval and unrecognised as a year-end liability. Its USD amount uses USD/SGD 1.2675. Cash-flow dividends include non-controlling interests; the dividend note covers owners only.

These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.