FGV HOLDINGS BERHAD

FINANCIAL RESULTS BRIEFING 3rd Quarter FY2021

1 December 2021

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TODAY'S AGENDA

Executive Summary

01

3Q FY2021 Results

02

Sustainability & Business

03

Updates

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EXECUTIVE SUMMARY

• The Palm Oil industry continues to face productivity issues due to acute labour shortage and intermittent pandemic-related operational disruption. National CPO production to date is about 9% below last year with palm oils stockpile settling around 1.8 mn MT only, thus maintaining the CPO spot price at above RM5,000/MT.

  • In line with the recent announcement by the government to bring in 32,000 foreign workers, we expect productivity improvement starting from 2Q FY2022. Our current foreign workers coverage stands at 70% of the full requirement.
  • Our vaccination programme for foreign workers is moving as planned and full completion of 2 doses for all workers is expected very soon.
  • Despite those challenges, FGV posted strong YTD operating profit driven by higher palm products' margins, higher gross profit margin in Sugar and better operating profit from Logistics.
  • FGV reinforces its commitment towards sustainability agenda, environmental protection and climate action. This is reflected in our commitment to adopt science-based target to become a net-zero business by 2050. FGV is the first food and agribusiness organisation in Malaysia to formalise such commitment.
  • Overall in 3Q FY2021, FGV recorded PATAMI of RM399 mn, almost a three-fold increase from RM137

mn recorded last year. For the 9M FY2021, FGV PATAMI improved significantly to RM703 mn from

RM15 mn last year.

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TODAY'S AGENDA

Executive Summary

01

02

3Q FY2021 Results

Sustainability & Business

03

Updates

5

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FGV Holdings Bhd published this content on 30 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 November 2021 10:50:05 UTC.