First Resources Limited reported that sales for the nine months ended Sep, 30 2025 (“9M25”) rose 59.9 % year on year to S$1,137.2 million, driven by higher average selling prices and increased shipment volumes of palm‐based products.

EBITDA for 9M25 climbed 55.7 % to S$426.0 million, while underlying net profit advanced 58.0 % to S$239.6 million. For the third quarter (“3Q25”), sales expanded 82.5 % to S$463.3 million, supporting a 54.7 % rise in EBITDA to S$163.8 million and a 43.5 % increase in underlying net profit to S$87.5 million.

Operationally, fresh fruit bunches (FFB) harvested in 9M25 grew 21.9 % to 3.33 million tonnes, comprising 2.87 million tonnes from the Group’s nucleus estates and 0.46 million tonnes from plasma plantations. Crude palm oil (CPO) output rose 27.8 % to 917,000 tonnes, while palm kernel production increased 29.5 % to 202,000 tonnes. The performance was boosted by organic growth and contributions from PT Austindo Nusantara Jaya, Tbk (“ANJ”), acquired in May 2025. Excluding ANJ, FFB harvested and CPO production would still have risen 8.1 % and 12.6 %, respectively.

Equity attributable to shareholders stood at S$1,410.9 million as at Sep, 30 2025, up 2.3 % from end-2024, supported by current-year profits. The Group ended the period with a gross gearing ratio of 0.63 times and cash reserves of S$328.3 million, alongside S$175.9 million in undrawn committed credit facilities.

After the quarter, First Resources agreed to divest two indirect subsidiaries of ANJ in West Papua, a move expected to cut net debt by about S$80 million.

Management said it remains focused on operational efficiencies, integrating the ANJ acquisition and advancing replanting activities. The Group expects limited global palm oil supply growth and Indonesia’s potential biodiesel mandate expansion to underpin prices, although trade policy and broader economic conditions could influence market dynamics.