First Resources Limited reported net profit of US$234.9 million for the six months ended Jun 30, up 57.4% year-on-year, driven chiefly by higher production volumes and improved processing margins following the full-period consolidation of PT Austindo Nusantara Jaya Tbk.
Revenue climbed 44.5% YoY to US$973.6 million, while EBITDA advanced 31.3% to US$344.4 million. The board declared an interim dividend of 8.00 Singapore cents a share.
Fresh fruit bunches harvested rose 10.2% to 2.23 million tonnes, underpinning an 18.4% increase in crude palm oil output to 656,605 tonnes. Yields were steady at 9.6 tonnes per hectare for FFB and 2.1 tonnes per hectare for CPO. Gross profit expanded 45.7% to US$409.2 million, reflecting stronger downstream processing margins. The group’s gross gearing stood at 0.53 times with cash and bank balances of US$229.2 million.
Management acknowledged ongoing headwinds, noting that recent adjustments to Indonesia’s palm-oil export framework have injected short-term price volatility. In addition, heightened geopolitical tensions in the Middle East and fluctuating crude-oil prices could weigh on biodiesel economics and, by extension, CPO demand. The company is also monitoring developing El Niño conditions for any subsequent impact on crop yields.
Strategically, First Resources expects Indonesia’s B50 biodiesel mandate to lift domestic demand for palm oil. The integration of PT Austindo Nusantara Jaya, acquired in May 2025, is intended to enhance production scale and operational efficiency, while the group continues to invest in sustainability measures across its 270,000 hectares of plantations.
Chief executive Ciliandra Fangiono said the clarification of Indonesia’s export policy framework has reduced market uncertainty, but he cautioned that external factors such as energy-price movements and weather patterns will remain pivotal to palm-oil pricing and consumption in the months ahead. He added that the company’s solid balance-sheet position provides flexibility to navigate volatility and pursue growth opportunities.