Keppel Infrastructure Trust · SGX:A7RU
Keppel Infrastructure Trust — UBS APAC Property Conference 2022
25 slides from Keppel Infrastructure Trust's conference presentation, Jun 28, 2022
Slide 1: UBS APAC Property Conference
UBS APAC Property Conference 28-29 June 2022
Slide 2: Outline
Outline Overview 3 1Q 2022 Highlights 9 Looking Ahead 17 Commitment to ESG Excellence 20 Constituent of: Awards and Accreditations: MSCI Singapore FTSE ST Large Small Cap Index & Mid-Cap Index 2
Slide 3: Overview
a | EPPEL INFRASTRUCTURE Qa + i 2 an Overview
Slide 4: Largest Singapore-listed Diversified Business Trust
Largest Singapore-listed Diversified Business Trust Anchored by a portfolio of critical infrastructure businesses and assets KINGDOM OF SAUDI ARABIA Assets Under Management ENERGY TRANSITION $4.5b1 ▪ Aramco Gas Pipelines Company as at 31 Mar 2022 THE PHILIPPINES DISTRIBUTION & STORAGE ▪ Philippine C
Slide 5: Diversified portfolio with maiden investment in the Middle East
Diversified portfolio with maiden investment in the Middle East Completed the Investment in Aramco Gas Pipelines Company ▪ Part of a global consortium to acquire a 49% stake in Aramco Gas Pipelines Company, which holds a 20-year lease-and-lease-back agreement over the usage rights of Aramco’s gas pi
Slide 6: Exploring Renewables Opportunities
Exploring Renewables Opportunities Signed MOU with Jinko Power to jointly explore solar farm and energy storage projects ▪ Enter into the renewable energy space: To identify up to 1,000MW of developmental and operational assets in key developed markets of APAC, Europe and the Middle East ▪ Aligns wi
Slide 7: Refreshed Business Segments
Refreshed Business Segments To build a well-diversified portfolio of core and core plus infrastructure businesses and assets that support the long-term growth in KIT’s distributions and contribute to a sustainable future Energy Transition Environmental Services Distribution & Storage Supports the tr
Slide 8: Portfolio Breakdown
Portfolio Breakdown as at 31 Mar 2022 By Businesses and Assets (%) By Geography (%) 20 Environmental 30 Services, 8% 8 30 S$4.5 billion Distribution & S$4.5 billion 8 Storage, 35% 57 5 Energy 16 5 8 Transition, 37% 13 Ixom Singapore Philippine Coastal Kingdom of Saudi Arabia City Energy Philippines
Slide 9: 1Q 2022 Highlights
1Q 2022 Highlights Aramco Gas Pipelines Company
Slide 10: 1Q 2022 Highlights
1Q 2022 Highlights ▪ Strong platform for continued growth: EBITDA (S$m) ̶ Strengthened cash flow resiliency: Completed investment in Aramco Gas Pipelines Company in Feb 2022 5.5% 89.61,2 ̶ Proposed amendments to fee structure to support growth and promote 84.91 alignment of interests with Unitholder
Slide 11: Energy Transition
Energy Transition Operational Cash Flows (OCF) (S$m) ▪ Aramco Gas Pipelines Company: Investment completed in end-Feb 2022; first quarterly contribution expected to commence in 3Q 2022 22.0 (4)% 21.2 ▪ City Energy: 11.0 11.3 ̶ Customer base grew 1% YoY to 879,000 as at end-Mar 2022 ̶ Recent volatilit
Slide 12: Environmental Services
Environmental Services Operational Cash Flows (OCF) (S$m) 18.2 (5)% 17.4 1Q 2021 1Q 2022 ▪ Senoko WTE Plant ▪ Fulfilled contractual obligations and operations remained stable ▪ Keppel Seghers Tuas WTE Plant ▪ Acquisition of the remaining 30% stake in the SingSpring Desalination ▪ Keppel Seghers Ulu
Slide 13: Distribution & Storage
Distribution & Storage ▪ Ixom: Operational Cash Flows (OCF) (S$m) ̶ Robust performance: Healthy demand from the construction, mining, dairy, as well as the water treatment segments 26.3 (19)% ̶ Increased exposure to construction segment with the acquisition of 21.4 Bituminous Products, one of Austra
Slide 14: Distributable Income
Distributable Income 1Q 2022 1Q 2021 +/(-) S$’000 S$’000 % Distribution & Storage 21,386 26,296 (18.7) - Ixom 19,399 24,458 (20.7) - Philippine Coastal 1,987 1,838 8.1) Energy Transition 21,260 22,024 (3.5) - City Energy 9,924 10,965 (9.5) - KMC 11,336 11,059 2.5 Environmental Services 17,377 18,223
Slide 15: Balance Sheet
Balance Sheet Balance Sheet (S$’m) As at 31 Mar 2022 As at 31 Dec 2021 Cash 430 817 Borrowings 1,899 1,730 Net debt 1,469 913 Total assets 4,509 4,501 Total liabilities 2,861 2,761 Annualised Group EBITDA 3581,2 3182,3 Net gearing 32.6% 20.3% Net debt / EBITDA 4.1x 2.9x 1. Excludes Ixom’s divestment
Slide 16: Capital Management
Capital Management Debt Repayment Profile Debt Breakdown by Currency ▪ Issued KIT Series 4 MTN in May 2022: < 1 yr > 5 yr 4.9% $250m notes due 2027 18.4% A$: 31.8% ▪ Obtained S$150m equity bridge loan in Feb 2022 to fund investment in Aramco Gas S$1.9b S$1.9b S$: 68.2% As at 31 Mar 2022 As at 31 Mar
Slide 17: Looking Ahead
Looking Ahead Keppel Merlimau Cogen Plant
Slide 18: Platforms for Sustainable Growth
Platforms for Sustainable Growth Build a well-diversified portfolio of infrastructure businesses and assets that generate long-term growth in distributions and contribute to a sustainable future Pursue Inorganic Growth ▪ Actively pursue third party OneKeppel evergreen businesses and yield- accretive
Slide 19: Renewed Focus towards Growth
Renewed Focus towards Growth Focus on evergreen, yield accretive assets and businesses that will benefit from secular growth trends Key Asset Classes Traditional asset classes Asset classes that benefit Asset classes that Socio-economic with long-term utility-like from the low-carbon support the dig
Slide 20: Commitment to ESG Excellence
Commitment to ESG Excellence Ixom
Slide 21: ESG at the Core
ESG at the Core KIT Board Sustainability management is imperative to the Board ESG Committee continued success of KIT and its ability to create value Establishment of a dedicated Board Environmental, Mr. Kunnasagaran Mr Daniel Ee, Mr Thio Shen Yi, Ms Susan Chong, Chinniah, Chairman Member Member Mem
Slide 22: Commitment to ESG Excellence
Commitment to ESG Excellence Environmental Stewardship Responsible Business People and Community Board Gender Diversity Owns two WTE plants with a Suppliers undergo rigorous Female: combined capacity to treat screening criteria which include 33.3% approx. 40% of Singapore’s reputation, track record
Slide 23: ESG Targets
ESG Targets Drive ESG performance and drive long-term value creation Environmental Stewardship Responsible Business People and Community Asset Quality and Safety: Fulfil contractual obligations and Employee Health and Wellbeing: Maintain zero Climate Change Adaptation: Commit to minimise operational
Slide 24: Thank You
Thank You www.kepinfratrust.com Connect with us on:
Slide 25: Important Notice
Important Notice The information contained in this presentation is for information purposes only and does not constitute or form part of, and should not be construed as, any offer or invitation to sell or issue or any solicitation of any offer or invitation to purchase or subscribe for any units (“U
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