Keppel Infrastructure Trust · SGX:A7RU
Keppel Infrastructure Trust — CITIC CLSA ASEAN Forum 2022
34 slides from Keppel Infrastructure Trust's conference presentation, Mar 9, 2022
Slide 1: CITIC CLSA ASEAN Forum 2022
CITIC CLSA ASEAN Forum 2022 9 March 2022
Slide 2: Outline
Outline Overview 3 FY 2021 Financial Results 8 Looking Ahead 15 Commitment to ESG Excellence 19 Additional Information 26 Constituent of: Awards and Accreditations: MSCI Singapore FTSE ST Large Small Cap Index & Mid-Cap Index 2
Slide 3: Overview of KIT
RASTRUCTURE KEPRE TRUSE IN Overview of KIT.
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: Completed the Investment in Aramco Gas Pipelines Company
Completed the Investment in Aramco Gas Pipelines Company ▪ Part of a global consortium to acquire a 49% stake in Aramco Gas Pipelines Company, which holds a 20-year lease-and-lease-back agreement over the usage rights of Aramco’s gas pipelines network ▪ Aramco Gas Pipelines Company will receive quar
Slide 6: Geographical Presence
Geographical Presence Geographical Presence Assets under Management S$4.6b1 KINGDOM OF Businesses and Assets SAUDI ARABIA 81 1. Excludes Basslink, which entered Voluntary Administration on 12 November 2021. The operations of Basslink is presently under the control of the receiver and manager appoint
Slide 7: Portfolio Breakdown
Portfolio Breakdown By Businesses and Assets1 (%) By Geography1 (%) 22.8 13.0 28.1 Waste & Water 8.0 S$4.6 billion1 S$4.6 billion1 60.1 Distribution 7.3 16.3 28.1 & Network Energy 4.5 7.3 4.5 Singapore City Energy Ixom Philippines Philippine Coastal Aramco Gas Pipelines Company KMC Waste & Water Kin
Slide 8: 2H and FY 2021 Highlights
2H and FY 2021 Highlights Keppel Merlimau Cogen Plant
Slide 9: FY 2021 Highlights
FY 2021 Highlights ▪ EBITDA of S$317.6m1,2 and FCFE of S$192.2m in FY 2021, a 3.2% and 14.8% DPU Growth Low Gearing respective decrease from FY 2020, due mainly to the under recovery of fuel cost at City Energy as a result of the timing differences in the fuel price pass 3.78 cents 20.3% through gas
Slide 10: Distribution & Network
Distribution & Network (fka City Gas) Operational Cash Flows (OCF)1 (S$m) ▪ Rebranding to mark its transformation journey as a provider of innovative green energy solutions to meet the needs of a growing city ▪ Customer base grew 0.7% YoY to 872,000 as at end-Dec 2021: Residential 136.0 (9)% 124.2 c
Slide 11: Energy and Waste & Water
Energy and Waste & Water Operational Cash Flows (OCF) (S$m) Energy Waste and Water 73.1 (3)% 71.3 46.1 (5)% 43.8 36.9 (4)% 35.4 24.5 (17)% 20.5 2H 2020 2H 2021 FY 2020 FY 2021 2H 2020 2H 2021 FY 2020 FY 2021 Keppel Merlimau Cogen Plant Senoko and Tuas WTE Plants, Ulu Pandan NEWater Plant and SingSpr
Slide 12: Free Cash Flow to Equity
Free Cash Flow to Equity 2H 2021 2H 2020 +/(-) FY 2021 FY 2020 +/(-) S$’000 S$’000 % S$’000 S$’000 % Distribution & Network 62,025 67,572 (8.2) 124,233 136,009 (8.7) City Energy 10,805 18,036 (40.1) 30,528 47,047 (35.1) Ixom 46,955 49,536 (5.2) 85,678 88,962 (3.7) Philippine Coastal 4,265 - 100.0 8,
Slide 13: Balance Sheet
Balance Sheet Balance Sheet (S$’m) As at 31 Dec 2021 As at 31 Dec 2020 Cash 817 581 Borrowings 1,730 2,161 Net debt 913 1,580 Total assets 4,501 4,930 Total liabilities 2,761 3,435 Annualised Group EBITDA 3181,2 3763,4 Net gearing 20.3% 32.1% Net debt / EBITDA 2.9x 4.2x 1. Excludes loss on derecogni
Slide 14: Capital Management
Capital Management Debt Repayment Profile Debt Breakdown by Currency ▪ Diversified funding sources with issuance of < 1 yr S$300m perpetual securities and S$200m > 5 yr 7.3% 20.1% A$: 30.9% MTN ▪ Proactively manage interest rate exposure: S$1.7b S$1.7b S$: 69.1% ~ 93% of loans hedged ▪ Mitigate impa
Slide 15: Looking Ahead
Looking Ahead SingSpring Desalination Plant
Slide 16: Platforms for Sustainable Growth
Platforms for Sustainable Growth Build a well-diversified portfolio of infrastructure businesses and assets that generate long-term growth in distributions and contribute to a sustainable future Pursue Inorganic Growth ▪ Actively pursue third party OneKeppel evergreen businesses and yield- accretive
Slide 17: Renewed Focus towards Growth
Renewed Focus towards Growth Focus on evergreen, yield accretive assets and businesses that will benefit from secular growth trends Key Asset Classes Traditional asset classes Asset classes that benefit Asset classes that Socio-economic with long-term utility-like from the low-carbon support the dig
Slide 18: Target Markets
Target Markets Global mandate, focusing on jurisdictions with well-developed legal frameworks Tier 2 Markets: Opportunistic: US Tier 1 Markets: EMEA and rest of the world APAC United States United Europe Kingdom South Japan Middle East Korea Philippines Focus on developed markets Singapore in APAC a
Slide 19: Commitment to ESG Excellence
Commitment to ESG Excellence Ixom
Slide 20: ESG at the Core
ESG at the Core KIT Board Sustainability management is imperative to the Board ESG Committee continued success of KIT and its ability to create value ▪ Establishment of a dedicated Board Environmental, Social, and Mr. Kunnasagaran Mr Daniel Ee, Mr Thio Shen Yi, Ms Susan Chong, Governance (ESG) Commi
Slide 21: Sustainability Framework
Sustainability Framework Environmental Stewardship We will do our part to combat climate change, and are committed to improving resources efficiency Responsible Business and reducing environmental impact The long-term sustainability of our business is driven at the highest level of the organization
Slide 22: Commitment to ESG Excellence: Environmental Stewardship
Commitment to ESG Excellence Environmental Targets Stewardship ▪ Climate Change Adaptation: Commit to implementing the TCFD Recommendations over the next 1-2 years Owns two WTE plants with a combined capacity to treat approx. ▪ Emissions: Achieve 30% carbon emissions intensity reduction by 2030 base
Slide 23: Commitment to ESG Excellence: Responsible Business
Commitment to ESG Excellence Responsible Targets Business ▪ Asset Quality and Safety: Fulfil contractual obligations and minimise operational disruptions due to equipment or facility problems ▪ Corporate Governance: Uphold strong corporate governance, robust risk Suppliers undergo rigorous screening
Slide 24: Commitment to ESG Excellence: People and Community
Commitment to ESG Excellence People and Targets Community ▪ Employee Health and Wellbeing: Maintain zero workplace fatalities Board Gender Diversity Female: ▪ Human Capital Management: Achieve at least 20 training hours per employee 33.3% in 2022; achieve at least 75% in employee engagement score in
Slide 25: Thank You
Thank You www.kepinfratrust.com Connect with us on: City Energy
Slide 26: Additional Information
Additional Information Tuas Waste-to-Energy Plant
Slide 27: Portfolio Overview
Portfolio Overview Description Customer and contract terms Primary source of cash flows Fixed margin per unit of gas sold, City Energy Sole producer and retailer of piped town gas 870,000 commercial and residential customers with fuel and electricity costs passed Distribution & Network through to co
Slide 28: 2H 2021: Free Cash Flow to Equity
2H 2021: Free Cash Flow to Equity Philippine Waste & KIT and S$'000 City Energy Basslink1 Ixom KM C Group Coastal Water Holdco Profit/ (loss) attributable to unitholders 2,049 23,757 15,688 1,136 (18,466) (1,964) (143,381) (121,181) Adjustments for non- cash items: Depreciation and amortisation 1,61
Slide 29: 2H 2020: Free Cash Flow to Equity
2H 2020: Free Cash Flow to Equity 2H FY2020 Waste & KIT and S$'000 City Energy Basslink Ixom KM C Group Water Holdco Profit/ (loss) attributable to unitholders 6,071 (94,062) (1,126) (17,444) (227) 27,254 (79,534) Adjustments for non- cash items: Depreciation and amortisation 1,856 8,559 37,859 19,6
Slide 30: FY 2021: Free Cash Flow to Equity
FY 2021: Free Cash Flow to Equity YTD 2021 Philippine Waste & KIT and S$'000 City Energy Basslink1 Ixom KM C Group Coastal Water Holdco Profit/ (loss) attributable to unitholders 9,986 4,673 20,126 885 (36,046) (3,517) (120,240) (124,133) Adjustments for non- cash items: Depreciation and amortisatio
Slide 31: FY 2020: Free Cash Flow to Equity
FY 2020: Free Cash Flow to Equity YTD 2020 Waste & KIT and S$'000 City Energy Basslink Ixom KM C Group Water Holdco Profit/ (loss) attributable to unitholders 19,806 (89,746) 14,217 (36,995) (1,135) 59,499 (34,354) Adjustments for non- cash items: Depreciation and amortisation 3,744 16,535 73,311 39
Slide 32: FY 2021: Businesses and Assets Results Summary
FY 2021: Businesses and Assets Results Summary City Energy Ixom Change Change S$'000 FY2021 FY2020 A$'000 FY2021 FY2020 % % Revenue 1 321,356 293,319 9.6 Revenue 1,016,750 1,036,245 (1.9) Other income 1,735 1,954 (11.2) Other income 2,111 2,408 (12.3) Other (losses)/ gains - net 73 458 (84.0) Other
Slide 33: FY 2021: Businesses and Assets Results Summary
FY 2021: Businesses and Assets Results Summary KMC Waste & Water Change Change S$'000 FY2021 FY2020 S$'000 FY2021 FY2020 % % Revenue 1 132,272 128,761 2.7 Revenue 1 91,932 95,880 (4.1) Other income 46 187 (75.3) Other income 1,403 2,069 (32.2) Other (losses)/ gains - net 19 148 (87.1) Expenses Expen
Slide 34: 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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