Keppel Ltd. · SGX:BN4
Keppel — Non-Deal Roadshow (September 2019)
25 slides from Keppel's roadshow presentation, Sep 16, 2019
Slide 1: Presentation to Investors
Presentation to Investors Bangkok 16 September 2019
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements which are subject to risks and uncertainties that could cause actual results to differ materially from such statements. Such risks and uncertainties include industry and economic conditions, competition, and legal, governmental and
Slide 3: Solutions for Sustainable Urbanisation
Solutions for Sustainable Urbanisation Keppel is meeting the world’s growing needs for energy, infrastructure, clean environments, high quality homes and offices, and connectivity. Our Engines Our Solutions • Oil & gas Offshore & Marine Energy • Power generation & electricity • Renewable energy • Re
Slide 4: Creating & Capturing Value
Creating & Capturing Value Our Engines Our Business Model Our Target Offshore & Marine 15% Operate & Stabilise & REITs Keppel + Private Funds Maintain Monetise & Trust Property Design & Recurring income Revaluation & Recurring income Build divestment gains Mid to long Infrastructure term ROE Project
Slide 5: Innovative solutions for safe and efficient harvesting of energy and maritime operations
We provide innovative solutions to support safe and efficient harvesting of energy and maritime operations. Hilli Episeyo, the world’s first-of-its-kind converted FLNG vessel
Slide 6: Positioned for Growth
Positioned for Growth We are well-placed to capture new growth opportunities in the offshore & marine sector, building on our expertise and track record. KEY STRENGTHS STRATEGIC FOCUS Floating • Newbuilds Gas infrastructure • Conversions & repairs • Specialised vessels • Technology innovation Rigs o
Slide 7: Quality Orderbook
Quality Orderbook Gas solutions and offshore renewables contributed S$2.4b in new orders over the past four years. New orders • Net orderbook stood at 1.88 S$5.5b as at mid-2019, 1.73 the highest since 2016 0.72 0.62 1.19 • Won S$720m of offshore S$b 0.03 renewables contracts for 0.13 0.35 wind farm
Slide 8: Deepening presence in fast-growing cities across China and Vietnam
We continue to deepen our presence in fast-growing cities across China and Vietnam, turning assets efficiently to achieve high returns. Launch of The Infiniti in Ho Chi Minh City
Slide 9: Urban Living Solutions
Urban Living Solutions We provide innovative real estate solutions in key Asian markets with a sterling portfolio of residential developments, investment-grade commercial properties and integrated townships. Corals at Keppel Bay, Singapore Park Avenue Heights, Wuxi Saigon Centre, Ho Chi Minh City Em
Slide 10: Focused on Returns
Focused on Returns Revalued NAV – Segment Residential landbank – Age Residential landbank – Units 69,170 65,547 63,022 Propety Less than 5 Investments years old 49,992 40% 29% 45,738 S$10.2bi Above 10 ~45,740ii RNAV Property years old units Trading 56% 60% 5-10 years old 15% 2015 2016 2017 2018 1H 2
Slide 11: Developing and operating key infrastructure
We develop and operate key infrastructure spanning power, waste-to-energy, water and wastewater treatment and data centre assets. Keppel Marina East Desalination Plant in Singapore 11
Slide 12: Proven track record
Proven track record We offer a wide spectrum of energy and environmental infrastructure solutions, including asset operations and maintenance. Singapore Hong Kong, China Keppel Merlimau Senoko WTE Plant 4 district heating Integrated Waste Cogen Plant (15 years from 2009) & cooling plants Management
Slide 13: Prime Data Centre Portfolio
Prime Data Centre Portfolio The US$1 billion Alpha Data Centre 23 25% Fund continues to grow its portfolio of developmental assets. Data centre developments across Compounded annual growth rate of net lettable Asia-Pacific & Europe area since 2014 Net Lettable Area (million sq ft) S$3.0b Combined po
Slide 14: Creating value for shareholders by investing strategically
We create value for shareholders by investing strategically, developing new growth engines and harnessing synergies across the Group.
Slide 15: Fuelling Growth through Asset Management
Fuelling Growth through Asset Management We connect investors with high-quality real assets in sectors fuelled by urbanisation trends. ASSET MANAGERS NEW ASSET CLASSES Infrastructure assets Listed i REITs & Trust 30% stake in Gimi FLNG will be a seed asset for the new infrastructure fund Senior Tota
Slide 16: Driving M1's Transformation
Driving M1’s Transformation FOCUS AREAS BUSINESS UPDATES Accelerating core consumer growth One Plan >15,000 new customers secured in first month following launch of simplified plan Expanding B2B segment and improved customer experience Improving cost efficiencies Partnering IMDA and PSA to testbed 5
Slide 17: Building Cities of Tomorrow
Building Cities of Tomorrow We harness the Group’s diverse strengths to develop sustainable townships and smart cities. 2008 Today Sino-Singapore Tianjin Eco-City • Keppel leads the Singapore consortium in a 50:50 JV to develop the 30-sq km Eco-City • Over 7,700 registered companies and 100,000 peop
Slide 18: Building Cities of Tomorrow
Building Cities of Tomorrow Keppel Urban Solutions was established in 2017 as a master developer of smart cities. • Partnering best-in-class technology providers through an open platform • Collaborating with Keppel Land to develop the 64-ha Saigon Sports City • Signed MOU with Envision and Wuxi Gove
Slide 19: Appendix
Appendix 19
Slide 20: Financial Performance
Financial Performance Key highlights Net profit • Annualised ROE was 6.3% 586 • Free cash outflow of S$614m S$356m 66 in 1H 2019 vs inflow of 1H 2019 net profit down 39% yoy as 1H 2018 S$873m in 1H 2018 356 S$m benefitted from en-bloc sales worth S$416m 25 606 • Net gearing was 0.82x as at 59 end-Ju
Slide 21: Key Figures
Key Figures S$m FY 2018 FY 2017i % Change 1H 2019 1H 2018 % Change Revenue 5,965 5,964 - 3,315 2,993 11 Operating Profit 1,055 801 32 482 766 (37) Net Profit 948 815 16 356 586 (39) EPS (cents) 52.3 44.8 17 19.6 32.3 (39) Free Cash Inflow/(Outflow) 515 1,802 (71) (614) 873 n.m. Increase of Decrease
Slide 22: Revenue by Segments
Revenue by Segments S$m FY 2018 % FY 2017 % 1H 2019 % 1H 2018 % Offshore & Marine 1,875 32 1,802 30 813 24 939 31 Property 1,340 22 1,782 30 628 19 787 26 Infrastructure 2,629 44 2,207 37 1,425 43 1,211 41 Investments 121 2 173 3 449 14 56 2 Total 5,965 100 5,964 100 3,315 100 2,993 100 22
Slide 23: Net Profit by Segments
Net Profit by Segments S$m FY 2018 % FY 2017i % 1H 2019 % 1H 2018 % Offshore & Marine (109) (11) (207) (25) 10 3 (40) (7) Property 942 99 650 80 262 74 606 104 Infrastructure 169 18 134 16 59 16 66 11 Investments (54) (6) 238 29 48 13 (46) (8) Less: Charges related to the - - - - (23) (6) - - acquis
Slide 24: Net Profit & EPS
Net Profit & EPS Net profit (S$m) EPS (Cents) 1,885 103.8 1,525 84.0 726 39.9 405 22.3 948 52.3 414 363 784 815 135 22.9 20.0 44.8 43.2 7.5 143 127 6.9 227 7.9 12.5 406 397 225 265 22.3 21.9 14.6 12.4 249 356 13.7 19.6 205 171 9.4 153 11.3 8.4 339 360 337 18.7 19.8 18.6 211 252 203 11.6 13.9 11.2 i
Slide 25: ROE & Dividend
ROE & Dividend 18.8% 14.2% 48 8.3% i 34 6.9% 6.9% 6.3% 30 20 22 ii 15 12 12 8 8 8 2014 2015 2016 2017 2018 2019 ROE Interim Dividend Full-Year Dividend i Excludes one-off financial penalty from global resolution & related costs ii Includes special cash dividend of 5.0cts/share 25