Keppel Infrastructure Trust · SGX:A7RU
Keppel Infrastructure Trust — CitySpring Infrastructure Trust — Q1 FY2010 Earnings Presentation
22 slides from Keppel Infrastructure Trust's earnings presentation, Aug 11, 2009
Slide 1: Results Briefing for 1Q FY2010
Results Briefing for 1Q FY2010 11 Aug 2009
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
Slide 3: Contents
Contents 1 Overview 2 Group Financial Results 3 Subsidiaries’ Financial Results 4 Basslink Telecoms Private and Confidential 2
Slide 4: Overview
Overview • Total cash earnings(1) for the quarter ended 30 Jun 2009 (“1Q FY10”) was S$13.9 million • For 1Q FY10, CitySpring will pay a distribution per unit (“DPU”) of 1.75 Singapore cents, in line with the target distribution guidance (1) Cash Earnings is defined as EBITDA adjusted for non-cash it
Slide 5: Overview: Business Highlights
Overview Business Highlights – City Gas achieved total cash earnings of S$7.3 million for the quarter – City Gas continues to pursue a multi-application sales strategy. An example is City Gas its recent contract to supply piped gas for cooking, water heating and clothes drying to a new service apart
Slide 6: Contents
Contents 1 Overview 2 Group Financial Results 3 Subsidiaries’ Financial Results 4 Basslink Telecoms Private and Confidential 5
Slide 7: Group Financial Results Highlights
Group Financial Results Highlights • All three businesses of CitySpring have performed to expectation in 1Q FY10 • The lower cash earnings of S$13.9 million in 1Q FY10 compared to S$17.7 million in 1Q FY09 is mainly due to: – City Gas Short-term volatility in cash earnings due to time-lag in adjusti
Slide 8: Group Consolidated Income Statement
Group Financial Results Group Consolidated Income Statement Consolidated Income Statement 1Q FY10 1Q FY09 Actual Actual Change S$’000 S$’000 % Revenue 82,833 99,371 (16.6) Other income 623 1,543 (59.6) Other gains - net 270 2,884 (90.6) Total expenses (86,975) (106,947) 18.7 Loss before fair value c
Slide 9: Group Cash Earnings
Group Financial Results Group Cash Earnings Group Cash Earnings FY08* FY09 1Q FY10 S$'000 S$'000 S$'000 Cash Earnings 69,164 60,940 13,866 Principal Repayment of SingSpring Loan (3,498) (4,100) (2,366) Minority Interests (4,073) (4,237) (1,173) Distribution to Unitholders (34,376) (34,300) (8,574) N
Slide 10: Contents
Contents 1 Overview 2 Group Financial Results 3 Subsidiaries’ Financial Results 4 Basslink Telecoms Private and Confidential 9
Slide 11: Subsidiaries' Financial Results: City Gas
Subsidiaries’ Financial Results City Gas City Gas Financial Results 1Q FY10 1Q FY09 Actual Actual Change S$'000 S$'000 % Revenue 56,510 72,655 (22.2) Other income 248 319 (22.3) Other gains - net 218 103 111.7 Expenses Fuel and electricity costs (20,881) (33,659) 38.0 Transportation costs (17,861) (
Slide 12: Subsidiaries' Financial Results: SingSpring
Subsidiaries’ Financial Results SingSpring SingSpring Financial Results 1Q FY10 1Q FY09 Actual Actual Change S$'000 S$'000 % Revenue 8,174 6,454 26.7 Other income 4 20 (80.0) Other gains - net - 1,224 N/M Expenses Fuel and electricity costs (1,879) (1,969) 4.6 Depreciation and amortisation (912) (91
Slide 13: Subsidiaries' Financial Results: Basslink
Subsidiaries’ Financial Results Basslink Basslink Financial Results 1Q FY10 1Q FY09 Actual Actual Change A$'000 A$'000 % Revenue 16,206 15,715 3.1 Other income 317 832 (61.9) Other gains - net 10 1,029 (99.0) Expenses Fuel and electricity costs (69) (24) (187.5) Staff costs (469) (438) (7.1) Operati
Slide 14: Contents
Contents 1 Overview 2 Group Financial Results 3 Subsidiaries’ Financial Results 4 Basslink Telecoms Private and Confidential 13
Slide 15: Basslink Telecoms
Basslink Telecoms • Embedded within the Basslink Interconnector are 4 pairs of unlit fibre optic cables • Basslink has established a new business unit, Basslink Telecoms, and invested in advanced telecoms equipment to light up the fibres and offer telecoms services between Hobart in Tasmania and Mel
Slide 16: Basslink Telecoms: A Wholesale Service Provider
Basslink Telecoms A Wholesale Service Provider • Basslink Telecoms, as a wholesale service provider, offers basic IP connectivity and transmission capacity from PoPs(1) in Tasmania via Bass Strait to PoPs in Victoria Melbourne • 2 PoPs in Hobart, Tasmania – PipeNetwork and Aurora Datacentres • 2 PoP
Slide 17: Basslink Telecoms: Services
Basslink Telecoms A Wholesale Service Provider Services Services • Basslink Telecoms offers basic IP connectivity and transmission IP layer capacity from PoPs in Tasmania via Bass Strait to PoPs in Melbourne (IP connectivity) – SDH Service (STM1 –STM16) – Ethernet (20Mbps and above) Transmission (en
Slide 18: Basslink Telecoms: Market Potential
Basslink Telecoms Market Potential • The lighting up of the Basslink fibres is viewed as a significant milestone in the history of Tasmania. It not only introduces broadband competition into the market but also enables the Government to further develop IT infrastructure and attracts bandwidth-intens
Slide 19: Appendix
Appendix Private and Confidential 18
Slide 20: Group Consolidated Balance Sheet
Group Financial Results Group Consolidated Balance Sheet Consolidated Balance Sheet As at 30 Jun 09 As at 31 Mar 09 S$'000 S$'000 ASSETS Cash and cash equivalents 125,691 125,934 Derivative financial instruments 97,510 19,733 Trade and other receivables 40,994 43,956 Inventories 12,506 12,379 Intang
Slide 21: Group Consolidated Cash Flow Statement
Group Financial Results Group Consolidated Cash Flow Statement Consolidated Cash Flow Statement 1Q FY10 1Q FY09 Actual Actual S$'000 S$'000 Cash flows from operating activities Net profit after tax 24,358 8,354 Non-cash adjustments 10,150 23,803 Operating cash flow before working capital changes 34,
Slide 22: Group Cash Earnings
Group Financial Results Group Cash Earnings Group Cash Earnings 1Q FY10 1Q FY09 Actual Actual S$'000 S$'000 EBITDA 35,402 34,676 Add/(less): Lease receivable repayment 1,725 1,660 Cash interest (15,698) (15,304) Fair value gain on derivative financial instruments (7,945) (3,577) Other non-cash flow
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