Keppel Infrastructure Trust · SGX:A7RU

Keppel Infrastructure Trust — CitySpring Infrastructure Trust — FY2011 Earnings Presentation

19 slides from Keppel Infrastructure Trust's earnings presentation, May 25, 2011

  1. Slide 1: Results Briefing for FY11

    Results Briefing for FY11 25 May 2011

  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

    Co te ts Contents 1 Overview 2 Group p Financial Results 3 Subsidiaries’ Financial Results Private and Confidential 2

  4. Slide 4: Overview

    Overview • FY11 ( Apr 2010 to Mar 2011) − Total cash earnings(1) for the year ended 31 Mar 2011 (“FY11”) amounted to S$75 million illi versus S$58 million illi for f the th previous i fi financial i l year • 4Q FY11 − For 4Q FY11,, CitySpring y p g will p payy a distribution p per unit ((“DPU”)) of

  5. Slide 5: Overview: Cash Earnings and Distribution

    Overview Cash Earnings g and Distribution (S$ million) FY10 FY11 Group Cash Earnings 57.9 74.9 Di t ib ti tto U Distribution Unitholders ith ld 39 4 39.4 41 2 41.2 Private and Confidential 4

  6. Slide 6: Overview: Business Highlights (City Gas)

    Overview Business Highlights g g • City Gas achieved total cash earnings of $47.1 $47 1 million for FY11 • Its customer base grew by about 2% from 620,200 as at the end of 4Q FY10 to about 632,600 as at the end of 4Q FY11 • Town gas volume growth has improved for most segments and in particular, par

  7. Slide 7: Overview: Business Highlights (SingSpring)

    Overview Business Highlights g g • Achieved total cash earnings of S$17.4 million for FY11 • Continues to maintain record of 100% availability and met all the terms under the Water Purchase Agreement with PUB SingSpring • Supplied an average of 38,850 m3 of water per day to PUB, representing 28% of

  8. Slide 8: Overview: Business Highlights (Basslink)

    Overview Business Highlights g g • Achieved cash earnings of A$15.7 A$15 7 million for FY11 • CRSM(2) was negative A$16.7 million for FY11 • Achieved cumulative availability of 97.12% for the 12 months ended 31 Dec 2010 Basslink • Cumulative availability for the three months ended 31 Mar 2011 was 10

  9. Slide 9: Contents

    Co te ts Contents 1 Overview 2 Group p Financial Results 3 Subsidiaries’ Financial Results Private and Confidential 8

  10. Slide 10: Group Consolidated Income Statement

    Group Financial Results Group p Consolidated Income Statement 4Q FY11 4Q FY10 FY11 FY10 Actual Actual Change Actual Actual Change S$’000 S$’000 % S$’000 S$’000 % Revenue 109 810 109,810 117 969 117,969 (6 9) (6.9) 424 479 424,479 388 147 388,147 94 9.4 Other income 3,760 828 354.1 6,907 2,678 157.9

  11. Slide 11: Group Cash Earnings

    Group Financial Results Group p Cash Earnings g 4Q FY11 4Q FY10 FY11 FY10 S$'000 S$'000 S$'000 S$'000 Cash Earnings 16,119 23,448 74,894 57,853 Applied as follows: Principal Repayment of SingSpring Loan (2,370) (2,246) (9,295) (9,463) Non-controlling interest (1,027) (1,031) (4,235) (4,588) Distribu

  12. Slide 12: Contents

    Co te ts Contents 1 Overview 2 Group p Financial Results 3 Subsidiaries’ Financial Results Private and Confidential 11

  13. Slide 13: Subsidiaries' Financial Results: City Gas

    Subsidiaries’ Financial Results City y Gas 4Q FY11 4Q FY10 FY11 FY10 Actual Actual Change Actual Actual Change S$'000 S$ 000 S$'000 S$ 000 % S$'000 S$ 000 S$'000 S$ 000 % Revenue 77,747 73,608 5.6 308,192 258,788 19.1 Other income 2,944 284 N/M 3,463 884 N/M Other (losses)/gains - net (28) (82) 65.9

  14. Slide 14: Subsidiaries' Financial Results: SingSpring

    Subsidiaries’ Financial Results SingSpring g p g 4Q FY11 4Q FY10 FY11 FY10 Actual Actual Change Actual Actual Change S$'000 S$'000 % S$'000 S$'000 % Revenue 9,200 15,024 (38.8) 38,700 41,981 (7.8) Other income 16 4 N/M 579 16 N/M Expenses Fuel and electricity costs (2,758) (6,773) 59.3 (12,332) (13,

  15. Slide 15: Subsidiaries' Financial Results: Basslink

    Subsidiaries’ Financial Results Basslink 4Q FY11 4Q FY10 FY11 FY10 Actual Actual Change Actual Actual Change A$'000 A$'000 % A$'000 A$'000 % R Revenue 17 887 17,887 23 460 23,460 (23 8) (23.8) 61 758 61,758 72 009 72,009 (14 2) (14.2) Other income 402 411 (2.2) 1,732 1,406 23.2 Other (losses)/gains

  16. Slide 16: Appendix

    Appendix Private and Confidential 15

  17. Slide 17: Group Consolidated Balance Sheet

    Group Financial Results Group p Consolidated Balance Sheet As at 31 Mar 11 As at 31 Mar 10 $'000 $'000 ASSETS Cash and bank deposits 159,094 132,975 Derivative financial instruments 87,687 108,139 Trade and other receivables 49,802 52,795 Inventories 13,184 , 13,552 , Intangibles 428,063 438,807 Fin

  18. Slide 18: Group Consolidated Cash Flow Statement

    Group Financial Results Group p Consolidated Cash Flow Statement 4Q FY11 4Q FY10 FY11 FY10 Actual Actual Actual Actual S$'000 S$'000 S$'000 S$'000 Cash flows from operating activities Net (loss)/profit after income tax (6,703) 2,049 (21,929) 9,227 Non-cash adjustments 38,114 36,280 150,680 105,312 O

  19. Slide 19: Group Cash Earnings

    Group Financial Results Group p Cash Earnings g 4Q FY11 4Q FY10 FY11 FY10 Actual Actual Actual Actual S$'000 S$'000 S$'000 S$'000 EBITDA 30 037 30,037 36 550 36,550 120 977 120,977 120 770 120,770 Add/(less): Other cash receipt 1,459 1,706 13,228 6,918 Net finance cost (16,500) (16,467) (65,713) (65

CitySpring Infrastructure Trust — FY2011 Earnings Presentation on 6ix