Keppel Infrastructure Trust · SGX:A7RU

Keppel Infrastructure Trust — CitySpring Infrastructure Trust — H1 2015 Earnings Presentation

19 slides from Keppel Infrastructure Trust's earnings presentation, Nov 3, 2014

  1. Slide 1: Results Briefing for 2Q FY15 and 1H FY15

    Results Briefing for 2Q FY15 and 1H FY15 3 November 2014

  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

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

  4. Slide 4: Overview

    Overview  Cash Earnings – 1H FY15 Total cash earnings(1) of S$36.4 million, compared to S$30.0 million in 1H FY14 – 2Q FY15 Total cash earnings(1) of S$13.8 million, compared to S$14.0 million in 2Q FY14  Distribution Per Unit (“DPU”) – CitySpring will pay a DPU of 0.82 Singapore cents for 2Q FY15

  5. Slide 5: Overview: City Gas business highlights

    Overview Business Highlights  City Gas achieved total cash earnings of S$11.1 million for the quarter compared to S$11.6 million in 2Q FY14  Its customer base grew by about 4.1% from 677,900 as at the end of 2Q FY14 to about 705,400 as at the end of 2Q FY15 City Gas  Achieved 100% plant availabil

  6. Slide 6: Overview: SingSpring business highlights

    Overview Business Highlights  Achieved total cash earnings of S$4.0 million for the quarter compared to S$3.6 million in 2Q FY14 Overview SingSpring Business Highlights  Achieved 100% availability and met all the terms under the Water Purchase Agreement with PUB Private and Confidential 5

  7. Slide 7: Overview: Basslink business highlights

    Overview Business Highlights  Achieved cash earnings of A$1.8 million for the quarter compared to A$1.3 million in 2Q FY14  Achieved cumulative availability of 98.55% for the 9 months ended 30 September 2014 (9 months ended 30 September 2013: 96.95%) Basslink  CRSM(4) was negative A$4.8 million f

  8. Slide 8: Contents

    Contents 1 Overview 2 Group Financial Results 3 Subsidiaries’ Financial Results Private and Confidential 7

  9. Slide 9: Group Financial Results

    Group Financial Results Revenue (S$ millions) Cash Earnings (S$ millions) 127.1 129.6 13.8 14.0 2Q FY15 2Q FY14 2Q FY15 2Q FY14 Private and Confidential 8

  10. Slide 10: Group Cash Earnings

    Group Financial Results Group Cash Earnings Application of Cash Earnings 2Q FY15 2Q FY14 S$'000 S$'000 Cash Earnings 13,751 14,013 Applied as follows: Principal Repayment of Subsidiary Entity Loan (2,610) (2,610) Distribution to Unitholders (12,455) (12,455) Net Balance (1,314) (1,052) Unrestricted

  11. Slide 11: Contents

    Contents 1 Overview 2 Group Financial Results 3 Subsidiaries’ Financial Results Private and Confidential 10

  12. Slide 12: Subsidiaries' Financial Results: City Gas

    Subsidiaries’ Financial Results City Gas 2Q FY15 2Q FY14 1H FY15 1H FY14 Actual Actual Change Actual Actual Change S$'000 S$'000 % S$'000 S$'000 % Revenue 98,949 98,702 0.3 197,524 195,533 1.0 Other income 265 276 (4.0) 590 517 14.1 Other (losses)/gains - net (43) 98 N/M (95) 180 N/M Expenses Fuel a

  13. Slide 13: Subsidiaries' Financial Results: SingSpring

    Subsidiaries’ Financial Results SingSpring 2Q FY15 2Q FY14 1H FY15 1H FY14 Actual Actual Change Actual Actual Change S$'000 S$'000 % S$'000 S$'000 % Revenue 9,152 10,521 (13.0) 18,031 20,073 (10.2) Other income 5 3 66.7 19 5 N/M Expenses Fuel and electricity costs (2,883) (3,731) 22.7 (5,613) (6,830

  14. Slide 14: Subsidiaries' Financial Results: Basslink

    Subsidiaries’ Financial Results Basslink 2Q FY15 2Q FY14 1H FY15 1H FY14 Actual Actual Change Actual Actual Change A$'000 A$'000 % A$'000 A$'000 % Revenue 15,564 17,107 (9.0) 36,842 33,362 10.4 Other income 333 255 30.6 626 533 17.4 Other losses - net (444) (584) 24.0 (2,893) (252) N/M Expenses Fuel

  15. Slide 15: Appendix

    Appendix Private and Confidential 14

  16. Slide 16: Group Consolidated Income Statement

    Group Financial Results Group Consolidated Income Statement 2Q FY15 2Q FY14 1H FY15 1H FY14 Actual Actual Change Actual Actual Change S$'000 S$’000 S$'000 S$’000 % S$'000 S$’000 S$'000 S$’000 % Revenue 127,115 129,646 (2.0) 260,476 256,696 1.5 Other income 835 687 21.5 1,658 1,378 20.3 Other losses

  17. Slide 17: Group Consolidated Balance Sheet

    Group Financial Results Group Consolidated Balance Sheet As at 30 Sept 14 As at 31 Mar 14 S$'000 S$'000 ASSETS Cash and bank deposits 297,132 304,327 Derivative financial instruments - 3,859 Trade and other receivables 63,165 68,554 Inventories 22,558 20,040 Intangibles 381,069 388,486 Finance lease

  18. Slide 18: Group Consolidated Cash Flow Statement

    Group Financial Results Group Consolidated Cash Flow Statement 2Q FY15 2Q FY14 1H FY15 1H FY14 Actual Actual Actual Actual S$'000 S$'000 S$'000 S$'000 Operating activities (Loss)/profit before tax (48) (203) 5,552 (963) Non-cash adjustments 28,188 28,060 59,979 57,289 Operating cash flow before work

  19. Slide 19: Group Cash Earnings

    Group Financial Results Group Cash Earnings 2Q FY15 2Q FY14 1H FY15 1H FY14 Actual Actual Actual Actual S$'000 S$'000 S$'000 S$'000 EBITDA 28,498 27,771 63,684 57,236 Add/(less): Other cash receipts 1,370 1,564 3,153 3,249 Net finance costs (12,607) (13,172) (25,343) (26,809) Payment of loan upfront

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