Keppel Infrastructure Trust · SGX:A7RU
Keppel Infrastructure Trust — 9M 2023 Earnings Presentation
25 slides from Keppel Infrastructure Trust's earnings presentation, Nov 2, 2023
Slide 1: 9M 2023 Financial Results
9M 2023 Financial Results 2 November 2023
Slide 2: Outline
Outline 9M 2023 Highlights 3 Business Updates 8 Finance and Capital Management 12 Commitment to Sustainability 16 Additional Information 19 Constituent of: Awards and Accreditations1: MSCI Singapore FTSE ST Large Small Cap Index & MidCap Index 1. Keppel Infrastructure Fund Management Pte Ltd is a s
Slide 3: 9M 2023 Highlights
9M 2023 Highlights Philippine Coastal
Slide 4: 9M 2023 DPU and Distributable Income Highlights
Announced Special Distribution of 2.33 cents DI almost doubled with new acquisitions and successful value creation Total 9M 2023 DPU of Special Distributions 3Q 2023 Distributions 5.23 cents 2.33 cents 0.97 cents 82.5% Supported by successful Supported by continued portfolio performance Higher than
Slide 5: Special Distribution from Successful Value Creation
Special Distribution from Successful Value Creation Crystallised part of value created with $273m capital optimisation arising from EBITDA growth at Ixom and City Energy Driven by higher valuations on strong business and EBITDA growth FY 2023 FY 2022 Feb 2019 2021 Ixom Acquisition EBITDA New strateg
Slide 6: Replicating Value Creation Strategy to Support DPU Growth
Replicating Value Creation Strategy to Support DPU Growth Driving growth of businesses through focused portfolio optimisation plans Improve asset performance Business optimisation Realise greater synergies Dedicated portfolio management and optimisation function focusing on value creation ▪ Position
Slide 7: KIT in a Position of Strength and Resilience
KIT in a Position of Strength and Resilience Supported by a resilient portfolio and strong balance sheet Well capitalised Well insulated Loans significantly for growth from inflation hedged 36.8% 78.8% Healthy net gearing level >90% Inflation protection Fixed and hedged debt ~$825m1 ~65% of portfoli
Slide 8: Business Updates
Business Updates Aramco Gas Pipelines Company
Slide 9: Energy Transition
Energy Transition ▪ Higher DI mainly due to contributions from AGPC ▪ City Energy and the wind farm assets, as well as the ̶ Expanded product offerings with the acquisition of TSH’s LPG business in Oct favourable fuel over recovery at City Energy 2023, the second largest LPG cylinder distributor in
Slide 10: Environmental Services
Environmental Services ▪ Higher DI supported by the positive ▪ Eco Management Korea Holdings (EMK) contribution from EMK with higher volume ̶ Maintained high availability and full utilisation of incineration business for landfill business ̶ Higher volume for landfill business with new contracts secu
Slide 11: Distribution & Storage
Distribution & Storage ▪ Ixom achieved 9% EBITDA growth in AUD terms; ▪ Ixom lower DI due mainly to oneoff refinancing related fees, higher capex and taxes, as well as ̶ Strong volumes and pricing across coagulants, caustic and sodium hypochlorite translation effects from weaker AUD in Australia, a
Slide 12: Finance and Capital Management
Finance and Capital Management City Energy
Slide 13: Distributable Income
Distributable Income S$’000 9M 2023 9M 2022 +/() % Energy Transition 106,998 65,245 64.0 Distribution Per Unit (cents) City Energy 44,245 24,264 82.3 5.23 Aramco Gas Pipelines Company 36,503 8,025 >100.0 +82.5% 2.33 Special KMC1 32,956 NM Distribution 2.87 European Onshore Wind Platform 1
Slide 14: Balance Sheet
Balance Sheet Building a strong balance sheet to support growth plans ▪ Comfortable debt headroom for growth: Approx. $825m to 45% net gearing level ▪ Mitigating impact of currency fluctuations: 78.3% foreign currency distributions hedged ▪ Approx. 78.8% of debt are fixed and hedged as at 30 Sep 202
Slide 15: Capital Management
Capital Management Welldiversified debt maturity profile ▪ Repaid / completed refinancing of all loans due in 2023: ̶ Fully repaid the acquisition bridge loan ̶ Completed Ixom refinancing exercise: Received strong demand with facility amount upsized to ~A$1.0b ̶ City Energy converted its $400m faci
Slide 16: Commitment to Sustainability
Commitment to Sustainability European Onshore Wind Platform
Slide 17: On track to achieve ESG targets
On track to achieve ESG targets Championing Innovative Green Energy solutions ▪ City Energy announced joint feasibility Progressing towards ESG targets study with Gentari to explore developing a green hydrogen pipeline from Johor to ▪ 30% carbon emissions intensity1 Singapore; launched solar solutio
Slide 18: Thank You
Thank You www.kepinfratrust.com Connect with us on:
Slide 19: Additional Information
KT | ICEPPEL INFRASTRUCTURE TRUST Additional Information
Slide 20: Inaugural Portfolio Valuation
Inaugural Portfolio Valuation AUM of S$7.3b for FY 2022 By Business and Assets ▪ Improves portfolio transparency and better reflect asset values Others, 1% Energy Transition, 60% ▪ Conducted by independent thirdparty valuer, Ernst & Young1 S$7.3b ▪ Reflects enlarged portfolio AUM of $7.3b for FY 20
Slide 21: Energy Transition Portfolio Overview
Portfolio Overview as at 30 Sep 2023 Description Customer and contract terms Primary source of cash flows Total Assets 1 (S$’m) Fixed margin per unit of gas sold, Sole producer and retailer of piped Over 897,269 commercial and City Energy with fuel and electricity costs passed town gas residential c
Slide 22: Environmental Services Portfolio Overview
Portfolio Overview as at 30 Sep 2023 Total Assets1 Description Customer and contract terms Primary source of cash flows (S$’m) Wastetoenergy plant with 2,310 NEA, Singapore government agency Senoko WTE Fixed payments for availability of tonnes/day waste incineration concession until 2024 (Singap
Slide 23: 9M 2023: Distributable Income
9M 2023: Distributable Income S$'000 Energy Environmental 1 Distribution & Corporate1 Group Note: Transition Services Storage 1. Comprises Trust expenses and distribution paid/payable to perpetual securities holders, management fees Profit/(loss) after tax 35,716 (35,998) 48,452 16,971 65,141 and fi
Slide 24: 9M 2022: Distributable Income
9M 2022: Distributable Income S$'000 Energy Environmental Distribution & Corporate1 Group Note: 1.Comprises Trust expenses and Transition Services1 Storage distribution paid/payable to perpetual securities holders, Profit/(loss) after tax (35,610) (3,122) 43,650 15,280 20,198 management fees and fin
Slide 25: 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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