Sembcorp Industries Ltd. · SGX:U96
Sembcorp Industries — H1 2026 Earnings Presentation
26 slides from Sembcorp Industries's earnings presentation, Aug 13, 2026
Slide 1: 1H2026 Results Announcement
1H2026 Results Announcement August 13, 2026 1 © Sembcorp Industries
Slide 2: 1H2026 Business Highlights
1H2026 Business Highlights Wong Kim Yin Group CEO 2 © Sembcorp Industries
Slide 3: 1H2026 Group Financials
1H2026 Group Financials Underlying 1H26 vs 1H25 Pro Forma4 Turnover S$3,771 million 28% S$5,589 million The Board announces an interim dividend of 11.0 cents EBITDA1 S$768 million 3% S$1,180 million per ordinary share, to be Adjusted paid on September 4, 2026 EBITDA2 S$947 million 5% S$1,361 m
Slide 4: Gas and Related Services: Long-term Contracts and New Demand Drivers Support Growth
GAS AND RELATED SERVICES Long-term Contracts and New Demand Drivers Support Growth GRS Net Profit1 Portfolio anchored by long-term PPAs (S$ million) • Normalisation of spark spreads for Singapore operations, 330 contracted position continues to anchor earnings 285 67 • Middle East assets performed w
Slide 5: Renewables: Focused on Execution while Navigating Headwinds
RENEWABLES Focused on Execution while Navigating Headwinds RE Net Profit1 Focused on executing growth pipeline (S$ million) • 6.6GW of renewables capacity under construction across key markets • India 132 - 3.6GW of hybrid projects with higher tariffs under construction, supporting future earnings a
Slide 6: Integrated Urban Solutions: Growing Urban Platform, Sharpening Water Portfolio
INTEGRATED URBAN SOLUTIONS Growing Urban Platform, Sharpening Water Portfolio IUS: Net Profit1 Urban: Expanding footprint, growing recurring income (S$ million) • Secured six new projects in Vietnam, bringing the Group’s gross development land to over 18,000ha across 31 projects - 2028 target 74 10
Slide 7: Alinta: Integrated Energy Platform Strengthens Earnings Quality
ALINTA Integrated Energy Platform Strengthens Earnings Quality Net Profit1 Strengthening gas supply and growing retail base (S$ million) 231 • Secured long-term gas supply agreements with Chevron and LNG 70 Japan, strengthening long-term energy supply portfolio in Western 101 Australia 53 235 115 •
Slide 8: Positioned to Capture AI and Data Centre Demand
POSITIONED TO CAPTURE AI AND DATA CENTRE (DC) DEMAND Powering Digital Infrastructure across Key Growth Markets Building Presence across Markets Singapore UK with Structural Demand of PPAs secured with DC & high- Leveraging our existing power and infrastructure 1.0GW 1 tech manufacturing customers in
Slide 9: Financial Review
Financial Review Eugene Cheng Group CFO 9 © Sembcorp Industries
Slide 10: Key Financials
Key Financials S$ million 1H26 1H25 Δ% Highlights Turnover 3,771 2,942 28 • Turnover increased mainly from the EBITDA1 768 789 (3) Gas and Related Services segment Share of Results: Associates & JVs, Net of Tax 179 211 (15) due to higher energy prices in Adjusted EBITDA2 947 1,000 (5) Singapore, as
Slide 11: Net Profit
Group Net Profit S$ million 1H26 1H25 Δ% Highlights Gas and Related Services 285 330 (14) Alinta 5 - NM • Lower Gas and Related Services net profit mainly on lower power prices, Renewables 69 132 (48) weaker customer demand and closure of a key customer’s operations in the UK, as Integrated Urban So
Slide 12: Capital Expenditure and Equity Investment
Group Capital Expenditure and Equity Investment S$ million 1H26 1H25 Highlights Capital Expenditure 242 412 • Lower capex year-on-year, reflecting Gas and Related Services 92 114 disciplined capital allocation Alinta 27 - • Capex in the Gas and Related Renewables 117 286 Services segment was mainly
Slide 13: Free Cash Flow
Group Free Cash Flow S$ million 1H26 1H25 Highlights Cash Flow from Operating Activities • Net cash from operating activities Operating Profit before Changes in Working Capital 536 713 declined mainly due to lower operating earnings and increased - Changes in Working Capital (88) 79 working capital
Slide 14: Borrowings
Group Borrowings S$ million Jun 30, 2026 Dec 31, 2025 Highlights Gross Debt 15,190 8,956 Total Equity 5,793 5,866 • Gross debt increased primarily due to financing raised for the acquisition Total Capital 20,983 14,822 of Alinta and the consolidation of Alinta’s existing debt Corporate Debt 12,738 6
Slide 15: Debt Profile
Group Debt Profile Debt Maturity Profile as of Jun 30, 2026 S$ million 6,406 1,030 Green and Sustainability-Linked Borrowings Other Corporate Borrowings 4,133 Project Finance Loans 2,372 501 1,976 1,915 1,420 683 508 1,649 1,101 471 339 926 1,205 1,243 772 521 177 222 367 241 202 Within 1 year 1 - 2
Slide 16: Liquidity
Group Liquidity S$ million Jun 30, 2026 Dec 31, 2025 Highlights Cash and Cash Equivalents 1,334 1,109 • Healthy liquidity position with S$9.1 billion of unutilised borrowing Borrowing Facilities facilities, supported by sufficient headroom in existing funding lines Committed Facilities 18,583 11,427
Slide 17: Outlook
Outlook The Group’s underlying performance in the first half of 2026 was lower year-on-year, mainly due to weaker wind and solar resource for the Renewables segment and reduced margins for the power operations in Singapore. The outlook for the second half of 2026, compared with the first half, is se
Slide 18: Positioned for a Stronger 2H2026: Segment Net Profit Guidance
POSITIONED FOR A STRONGER 2H2026 Segment Net Profit Guidance Segment 1H2026 Backdrop 2H2026 Key Drivers • Weaker on lower re-contracted spreads and Shell force majeure on Senoko gas contract. • Directionally higher compared to 1H2026 on Gas & Related Services Gas supply managed from a Group perspect
Slide 19: Disclaimer
Disclaimer This presentation contains certain statements that are not statements of historical fact, i.e. forward-looking statements. These forward-looking statements are based on current expectations, estimates, projections and assumptions about future events. Although Sembcorp Industries believes
Slide 20: Appendix
Appendix 20 © Sembcorp Industries
Slide 21: Turnover
Group Turnover S$ million 1H26 1H25 Δ% Highlights Gas and Related Services 2,573 2,093 23 • Increase in turnover for Gas and Alinta 357 - NM Related Services mainly due to higher energy prices in Singapore Renewables 421 431 (2) • One month of contribution from Alinta Integrated Urban Solutions 108
Slide 22: Underlying EBITDA and Adjusted EBITDA
Group Underlying EBITDA and Adjusted EBITDA S$ million 1H26 1H25 Δ% Gas and Related Services 305 357 (15) Alinta 35 - NM Renewables 350 351 * Integrated Urban Solutions 40 39 3 Decarbonisation Solutions (8) (13) (38) Other Businesses & Corporate 46 55 (16) UNDERLYING EBITDA 768 789 (3) Gas and Relat
Slide 23: Borrowings
Group Borrowings S$ million Amount Drawn Fixed / Floating Rate1 Year of Maturity Corporate Debt 12,738 Medium Term Notes (issued 2014) 150 3.593% 2026 Medium Term Notes (Green bond issued 2021) 400 2.450% 2031 Medium Term Notes (Green bond issued 2023) 350 4.600% 2030 Medium Term Notes (Sustainabili
Slide 24: Renewables Capacity
Group Renewables Capacity Gross capacity, MW / MWh Attributable capacity, MW / MWh As at Jun 30, 2026 Installed Under Construction Installed Under Construction Solar 6,798 2,483 4,575 2,371 Singapore 641 239 641 239 Vietnam 268 20 175 10 Indonesia 68 200 39 98 1 Philippines - 96 - 96 China 3,829 - 1
Slide 25: Renewables Capacity under Construction
Group Renewables Capacity under Construction Gross renewables capacity (MW / MWh)1 Gross renewables capacity (MW / MWh)1 Expected completion schedule by country, as at Jun 30, 2026 Expected completion schedule by technology, as at Jun 30, 2026 4,054 4,054 2,179 2,667 1,691 1,691 300 125 546 1,214 38
Slide 26: Thank you
Thank you 26 © Sembcorp Industries