Keppel Infrastructure Trust · SGX:A7RU

Keppel Infrastructure Trust — CitySpring Infrastructure Trust — H1 2011 Earnings Presentation

19 slides from Keppel Infrastructure Trust's earnings presentation, Nov 11, 2010

  1. Slide 1: Results Briefing for 2Q FY11 and 1H FY11

    Results Briefing for 2Q FY11 and 1H FY11 11 November 2010

  2. Slide 2: Disclaimer

    Disclaimer This presentation is not and does not constitute or form part of, and is not made in connection with, any offer, invitation or recommendation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any units of CitySpring Infrastructure Trust (“CitySpring”) and ne

  3. Slide 3: Contents

    Co te ts Contents 1 Overview 2 Group Financial Results 3 Subsidiaries’ Financial Results Private and Confidential 2

  4. Slide 4: Overview

    Overview • 1H FY11 – Total cash earnings(1) of S$ 40.9 million, 74.1% higher than 1H FY10 • 2Q FY11 – Total cash earnings(1) of S$ 23.1 million, compared to S$ 9.6 million in 2Q FY10 • CitySpring will pay a distribution per unit (“DPU”) of 1.05 Singapore cents for 2Q FY11. (1) Cash earnings is defin

  5. Slide 5: Overview

    Overview • As part of the acquisition in August 2007, Basslink issued three bonds maturing in 2015, 2017 and 2019. 2019 These bonds are rated BBB BBB- and Baa2 by Standard & Poor Poor’s s ((“S&P”) S&P ) and Moody’s respectively. Under the financing agreements relating to these bonds, if the standalo

  6. Slide 6: Overview: City Gas business highlights

    Overview Business Highlights • City Gas achieved total cash earnings of $13.1 million for the quarter • Its customer base grew by 2% from 613,000 as at the end of 2Q FY10 t about to b t 626,000 626 000 as att the th end d off 2Q FY11 • Daily gas-send out in 2Q FY11 at a record high of 903,000 cubic

  7. Slide 7: Overview: SingSpring business highlights

    Overview Business Highlights • SingSpring achieved total cash earnings of S$4.7 million for the quarter • SingSpring g p g continues to maintain record of 100% availabilityy and met all the terms under the WPA with PUB SingSpring • For 2Q FY11, SingSpring supplied an average of 33,926 cubic metres o

  8. Slide 8: Overview: Basslink business highlights

    Overview Business Highlights • Basslink achieved cash earnings of A$6.3 million for the quarter • CRSM was negative for the quarter • An unplanned outage lasting 11.5 hours occurred on 15 Sep 2010 due to the failure of a valve-cooling pipe component. If there are no further outages, the cumulative a

  9. Slide 9: Contents

    Co te ts Contents 1 Overview 2 Group Financial Results 3 Subsidiaries’ Financial Results Private and Confidential 8

  10. Slide 10: Group Consolidated Income Statement

    Group Financial Results Group p Consolidated Income Statement 2Q FY11 2Q FY10 1H FY11 1H FY10 Actual Actual Change Actual Actual Change S$’000 S$ 000 S$’000 S$ 000 % S$’000 S$ 000 S$’000 S$ 000 % Revenue 103,794 92,106 12.7 207,664 174,939 18.7 Other income 1,528 628 143.3 2,228 1,136 96.1 Other gai

  11. Slide 11: Group Cash Earnings

    Group Financial Results Group p Cash Earnings g 2Q FY11 2Q FY10 1H FY11 1H FY10 S$'000 S$'000 S$'000 S$'000 Cash Earnings 23,111 9,630 40,911 23,496 A li d as ffollows: Applied ll Principal Repayment of SingSpring Loan (2,325) (2,366) (4,575) (4,732) Non-controlling interest (1,159) (1,172) (2,156)

  12. Slide 12: Contents

    Co te ts Contents 1 Overview 2 Group Financial Results 3 Subsidiaries’ Financial Results Private and Confidential 11

  13. Slide 13: Subsidiaries' Financial Results: City Gas

    Subsidiaries’ Financial Results City y Gas 2Q FY11 2Q FY10 1H FY11 1H FY10 Actual Actual Change Actual Actual Change S$'000 S$'000 % S$'000 S$'000 % Revenue 77,088 61,228 25.9 152,301 117,738 29.4 Other income 252 230 9.6 338 363 (6.9) Other gains/(losses) - net 18 (4) N/M 5 (9) N/M Expenses Fuel an

  14. Slide 14: Subsidiaries' Financial Results: SingSpring

    Subsidiaries’ Financial Results SingSpring g p g 2Q FY11 2Q FY10 1H FY11 1H FY10 Actual Actual Change Actual Actual Change S$'000 S$ 000 S$'000 S$ 000 % S$'000 S$ 000 S$'000 S$ 000 % Revenue 9,312 9,841 (5.4) 19,943 18,015 10.7 Other income 560 3 N/M 562 7 N/M Expenses Fuel and electricity costs (2,

  15. Slide 15: Subsidiaries' Financial Results: Basslink

    Subsidiaries’ Financial Results Basslink 2Q FY11 2Q FY10 1H FY11 1H FY10 Actual Actual Change Actual Actual Change A$'000 A$'000 % A$’000 A$’000 % Revenue 14,187 17,593 (19.4) 28,860 33,799 (14.6) Other income 433 321 34.9 871 638 36.5 Other gains - net 15 7 114.3 15 17 (11.8) Expenses Fuel and elec

  16. Slide 16: Appendix

    Appendix Private and Confidential 15

  17. Slide 17: Group Consolidated Balance Sheet

    Group Financial Results Group p Consolidated Balance Sheet As at 30 Sept 10 As at 31 Mar 10 $'000 $'000 ASSETS Cash and bank deposits 150,346 132,975 Derivative financial instruments 54,040 108,139 Trade and other receivables 47,458 52,795 Inventories 13,820 13,552 Intangibles 432 543 432,543 438 80

  18. Slide 18: Group Consolidated Cash Flow Statement

    Group Financial Results Group p Consolidated Cash Flow Statement 2Q FY11 2Q FY10 1H FY11 1H FY10 Actual Actual Actual Actual S$'000 S$ 000 S$'000 S$ 000 S$'000 S$ 000 S$'000 S$ 000 Cash flows from operating activities Net (loss)/profit after income tax (3,624) (16,213) (25,480) 8,145 Non-cash adjust

  19. Slide 19: Group Cash Earnings

    Group Financial Results Group p Cash Earnings g 2Q FY11 2Q FY10 1H FY11 1H FY10 Actual Actual Actual Actual S$'000 S$'000 S$'000 S$'000 EBITDA 31,829 22,361 56,550 57,763 Add/(less): Other cash receipts 8,401 1,743 10,193 3,468 Net finance cost (16,187) (16,801) (32,406) (32,499) Fair value loss/(ga

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