Keppel Infrastructure Trust · SGX:A7RU
Keppel Infrastructure Trust — Citi-SGX-REITAS REITs & Sponsors Forum 2021
22 slides from Keppel Infrastructure Trust's conference presentation, Aug 25, 2021
Slide 1: Citi-SGX-REITAS REITs & Sponsors Forum
Citi-SGX-REITAS REITs & Sponsors Forum 25 August 2021
Slide 2: Outline
Outline 1 Overview of Keppel Infrastructure Trust (KIT) 3 2 1H 2021 Financial Results 8 3 Additional Information 17 2
Slide 3: Overview of KIT
Overview of KIT Ixom
Slide 4: KIT: Largest Singapore-listed Diversified Business Trust
KIT: Largest Singapore-listed Diversified Business Trust • The largest diversified Business Trust listed in Singapore with a portfolio of strategic businesses and assets that provide essential products and services • Long-term growth and sustainable cash flows supported by defensive evergreen busine
Slide 5: Highly Defensive Portfolio Delivering Stable Cash Flows
Highly Defensive Portfolio Delivering Stable Cash Flows Portfolio of strategic businesses and assets across a broad range of highly defensive industries that delivers long-term sustainable cash flows to Unitholders Distribution & Network • City Gas Strategic businesses and assets with potential for
Slide 6: Geographical Presence
Geographical Presence ENERGY WASTE & WATER Assets under Management $5.2b 6
Slide 7: Portfolio Breakdown
Portfolio Breakdown By Businesses and Assets (%) By Geography (%) As at 30 Jun 2021 As at 30 Jun 2021 20.7 Waste 11.7 & Water 7.7 41.9 54.3 S$5.2 billion 16.9 Distribution S$5.2 billion & Network 14.2 Energy 3.8 25.0 3.8 City Gas Basslink Singapore Phillipines Australia, New Zealand and other countr
Slide 8: 1H 2021 Financial Results
1H 2021 Financial Results City Gas
Slide 9: 1H 2021 Highlights
1H 2021 Highlights EBITDA of S$193.5m1 and FCFE2 of S$100.7m in 1H 2021 EBITDA1 decreased by 3.9% and FCFE down by 11.2% YoY due mainly to the under recovery of fuel cost at City Gas as a result of the timing differences in the fuel price pass through gas tariff mechanism Sustained stable DPU of 1.8
Slide 10: Focused on Growing FCFE
Focused on Growing FCFE FCFE and Payout Ratio Stable Distribution (cents) FCFE Payout 3.72 3.72 3.72 3.72 3.72 (S$m) Ratio (%) 250 1.86 1.86 1.86 1.86 1.86 225.7 100 200 188.7 80 1.86 1.86 1.86 1.86 1.86 1.86 149.5 144.2 150 141.2 60 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 1H 2021 100.7 1H 2H 100 40
Slide 11: 100% ownership in the SingSpring Desalination Plant
100% ownership in the SingSpring Desalination Plant ▪ Acquiring the remaining 30% stake in the SingSpring Desalination Plant ▪ DPU-accretive acquisition that offers KIT attractive risk-adjusted returns ▪ Enhance the operational and business continuity of the asset, as well as strengthen the asset’s
Slide 12: Business Updates - Distribution & Network
Business Updates - Distribution & Network City Gas Operational Cash Flows (OCF) (S$m) ▪ Customer base grew 1.3% YoY to 873,000 as at end-Jun 2021 ▪ Residential consumption of town gas remains healthy while Commercial & Industrial consumption remains 68.4 (9)% below pre COVID-19 levels 62.2 ▪ OCF was
Slide 13: Business Updates - Energy and Waste & Water
Business Updates - Energy and Waste & Water Operational Cash Flows (OCF) (S$m) Keppel Merlimau Cogen Plant Energy ▪ Achieved 100% contracted availability in 1H 2021 compared to 97.9% in 1H 2020 8% 23.4 21.6 ▪ KMC has no tariff exposure to the Singapore wholesale electricity market and has no exposur
Slide 14: Free Cash Flow to Equity
Free Cash Flow to Equity 1H 2021 1H 2020 +/(-) S$’000 S$’000 % Distribution & Network 62,208 68,437 (9.1) City Gas 19,723 29,011 (32.0) Ixom 38,723 39,426 (1.8) Philippine Coastal 3,762 - 100.0 Energy 23,367 21,607 8.1 Waste & Water 35,945 36,219 (0.8) Operational Cash Flows 121,520 126,263 (3.8) KI
Slide 15: Balance Sheet and Capital Management
Balance Sheet and Capital Management ▪ Upsized Multicurrency Debt Issuance Programme from Debt Repayment Profile Debt Breakdown by Currency S$1b to S$2b: Issued S$300m perpetual securities > 5 yr 15.8% < 1 yr (classified as equity) to refinance borrowings, fund 35.0% potential acquisitions and asset
Slide 16: Thank You
Thank You Constituent of: www.kepinfratrust.com MSCI Singapore FTSE ST Large Connect with us on: Small Cap Index & Mid-Cap Index Philippine Coastal
Slide 17: Additional Information
Additional Information Keppel Merlimau Cogen Plant
Slide 18: Three-pronged Growth Strategy
Three-pronged Growth Strategy Value Operational Focused Creation Excellence Acquisition • Generate and grow cash flows from • Achieve operational excellence • Seek leading businesses and assets KIT’s well-diversified portfolio of and asset optimisation to extract with the following investment busine
Slide 19: Driving Growth
Driving Growth Deliver recurring distributions and growth over the long term Anchored By acquiring strategic businesses and assets across a broad range of highly defensive industries Benchmarks Provider of essential Creditworthy off-takers Defensive and growing High barriers to entry Jurisdictions w
Slide 20: Commitment to Sustainability
Commitment to Sustainability ENVIRONMENTAL RESPONSIBLE PEOPLE AND STEWARDSHIP BUSINESS COMMUNITY We will do our part to combat climate change The long-term sustainability of our business is People are the cornerstone of our business. We and are committed to improving resource driven at the highest l
Slide 21: Well-Diversified Customer Base and Reputable Off-takers
Well-Diversified Customer Base and Reputable Off-takers Description Customer and contract terms Primary source of cash flows City Gas Fixed margin per unit of gas sold, Approx. 873,000 commercial and residential Sole producer and retailer of piped town gas with fuel and electricity costs passed thro
Slide 22: 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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