Keppel Infrastructure Trust · SGX:A7RU
Keppel Infrastructure Trust — Yuanta Securities Virtual Corporate Event for Taiwan Investors (June 2020)
22 slides from Keppel Infrastructure Trust's conference presentation, Jun 18, 2020
Slide 1: Yuanta Securities Virtual Corporate Event for Taiwan Investors
Yuanta Securities Virtual Corporate Event for Taiwan Investors 18 June 2020
Slide 2: Outline
Outline 1 Overview 3 2 1Q 2020 Business and Operational Updates 9 3 Additional Information 18 2
Slide 3: Overview
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Slide 4: Overview of KIT
Overview of KIT • The largest diversified Business Trust listed in Singapore with a portfolio of strategic businesses and assets that provide essential products and services • Assets under Management of $4.9b as at 31 March 2020 • Long-term sustainable cash flows supported by AAA Singapore Governmen
Slide 5: Overview of KIT: Portfolio of strategic businesses and assets
Overview of KIT Portfolio of strategic businesses and assets across a broad range of highly defensive industries Distribution & Network Strategic businesses and assets • City Gas with potential for long-term • Ixom growth supported by favourable • Basslink demand dynamics All business and assets are
Slide 6: Geographical Presence
Geographical Presence Distribution & Network Energy Waste & Water 6
Slide 7: Large and Diversified Customer Base and Reputable Off-takers
Large and Diversified Customer Base and Reputable Off-takers Customers & Off-takers Highlights More than 860,000 residential, City Gas ✓ Sole producer and retailer of town gas in Singapore commercial and industrial customers ✓ Sole manufacturer and provider of liquefied chlorine in Australia, as wel
Slide 8: Portfolio Breakdown
Portfolio Breakdown By Businesses and Assets (%) By Geography (%) As at 31 March 2020 As at 31 March 2020 12.1 20.5 16.8 9.7 $4.9 $4.9 41.8 billion billion 58.2 15.9 25.0 City Gas Basslink Singapore Australia, New Zealand and other countries Ixom KMC Waste & Water Trust assets and non-controlling in
Slide 9: 1Q 2020 Key Business and Operational Updates
1Q 2020 Key Business and Operational Updates City Gas
Slide 10: 1Q 2020 Key Results Highlights
1Q 2020 Key Results Highlights Stable DPU 0.93 cents Supported by resilient cash flows from a diversified portfolio of businesses and assets Resilient Distributable Cash Flows $51.1m 5.6% YoY increase over 1Q 2019 Annualised Yield (1) 8.8% Based on the market closing price per Unit of $0.425 as at 3
Slide 11: 1Q 2020 Business Updates
1Q 2020 Business Updates City Gas • Customer base grew 1.6% YoY to 863,000 in 1Q 2020 • Achieved 100% availability • Continue to ensure town gas supply is maintained to support essential requirements in Singapore in the current pandemic Ixom • Continued to deliver resilient performance despite the c
Slide 12: 1Q 2020 Business Updates
1Q 2020 Business Updates Energy ▪ Keppel • Achieved 100% of contracted availability Merlimau Cogen (KMC) • Advanced discussions with lenders for the refinancing of the KMC loan Waste & Water ▪ Senoko WTE Plant ▪ Tuas WTE Plant • Fulfilled all contractual obligations and operations remained stable ▪
Slide 13: 1Q 2020 Portfolio Performance
1Q 2020 Portfolio Performance 1Q 2020 1Q 2019 +/(-) S$’000 S$’000 % Distribution & Network 28,207 23,061 22.3 City Gas 11,857 15,841 (25.1) Ixom 16,350 5,878 >100.0 DC One(1) - 1,342 n.m. Energy 11,202 11,716 (4.4) Waste & Water 18,138 17,860 1.6 Others(2) (6,404) (4,207) (52.2) Distributable Cash F
Slide 14: Regular and Stable Distributions
Regular and Stable Distributions Distribution History (cents) 3.72 3.72 3.72 3.72 0.93 0.93 0.93 0.93 0.93 0.93 0.93 0.93 0.93 0.93 0.93 0.93 0.93 0.93 0.93 0.93 0.93 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 1Q 2Q 3Q 4Q Comparative Yields(1) Total Returns(3) 7.0% 2.8% 5.0% 4.7% KIT FTSE ST REIT STI 0
Slide 15: Balance Sheet
Balance Sheet Sustainable gearing supported by: As at 31 March 2020 (S$’m) Total Excl. Basslink ◼ Long term concession contracts expiring between 2024 and 2036 Cash 443 411 ◼ Creditworthy off-takers backed by government and government-linked Borrowings 2,101 1,505 corporations Net debt 1,658 1,094 ◼
Slide 16: Capital Management
Capital Management Overview: Debt Repayment Debt Breakdown by ◼ Hedged ~89% of total loans Currency Profile ◼ All loans are non-recourse except KIT corporate loan ◼ Stable interest rate of 4-5% < 1 yr − Singapore average: 2-4% 61.9% A$51.9% − Australia average: 3-7% 1-5 yrs ◼ Weighted average term t
Slide 17: Three-pronged Growth Strategy
Three-pronged Growth Strategy Value Operational Focused Creation Excellence Acquisition • Generate sustainable cash • Achieve operational excellence • Seek leading businesses and flows from the Trust’s well- and asset optimisation to extract assets with the following diversified portfolio of further
Slide 18: Additional Information
Additional Information Keppel Seghers Tuas WTE Plant
Slide 19: Driving Sustainable Growth
Driving Sustainable Growth KIT’s strategic goal is to deliver sustainable returns to its Unitholders, through a combination of recurring distributions and capital growth over the long term Anchored By a growing portfolio of strategic businesses and assets across a broad range of highly defensive ind
Slide 20: Distribution & Network Portfolio Overview
Portfolio Overview Description Customer and contract terms Primary source of cash flows City Gas Fixed margin per unit of gas sold, Distribution & Network Sole producer and retailer of piped town Over 860,000 commercial and residential with fuel and electricity costs passed Singapore gas customers t
Slide 21: 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
Slide 22: Thank You
Thank You www.kepinfratrust.com Ulu Pandan NEWater Plant