- First Resources (SGX:EB5) is scheduled to release its 4Q25 earnings on 27 February (see Earnings Calendar). We expect 10% higher earnings q-o-q to US$98m on account of peak volume output.
- - Read this at SGinvestors.io -
On track to hit production growth target of 25% for 2025.
- - Read this at SGinvestors.io -
2026 outlook.
- For 2026, we expect First Resources’ earnings base to remain relatively stable (-5% y-o-y) supported by the full-year recognition of its enlarged landbank’s production contribution – subsequent to the completion of its acquisition in May 25 – given relatively mild weather conditions observed for its estates’ locations, we expect First Resources to see FFB growth of 5-10%. This, on top of First Resources’ downstream operations which include 750,000 tonnes of biodiesel blending capacity for the B40 programme should help mitigate the downside to CPO prices following Indonesia’s B50 mandate postponement in addition to a planned increase in export levies of 2.5% from Mar 26 onwards.
Strong cash flow supporting post-acquisition deleveraging and sustained dividend payouts.
- Read more at SGinvestors.io.
