Keppel Ltd. · SGX:BN4
Keppel — Investor Presentation (August 2022)
16 slides from Keppel's investor presentation, Aug 25, 2022
Slide 1: Briefing for Retail Shareholders
Briefing for Retail Shareholders Hosted by Securities Investors Association (Singapore) 25 August 2022
Slide 2: Vision 2030
Vision 2030 Keppel continues to accelerate the execution of Vision 2030 and enhance resilience amidst a challenging environment, to deliver value for all stakeholders. Driving transformation, Accelerating growth Driving value creation sharpening focus • Developing a leading asset • Strong progress i
Slide 3: Delivering strong performance in 1H22
Delivering strong performance in 1H22 Net profit Annualised ROE Interim dividend S$498m 53% increase from 5.5% for 1H21 Compared to 12.0 cts/share for 1H21 66% Net gearing S$300m Share buyback programme Unchanged from 0.68x at end-2021 Free cash outflow 57 million shares repurchased in 1H22, since l
Slide 4: Growing recurring income in line with Vision 2030
Growing recurring income in line with Vision 2030 Recurring income grew 43% yoy in 1H22 Recurring income in 1H22 Others S$11m Connectivity S$202m S$20m REITs & Trust 43% Asset S$81m management S$141mi S$36m S$202mii Infrastructure services 1H21 1H22 S$91m i The recurring income in 1H21 has been rest
Slide 5: Strong progress with asset monetisation
Strong progress with asset monetisation Capital unlocked will be used to fuel organic and inorganic growth plans and reward shareholders. S$3.6bi of asset monetisation announced since Oct 2020. Includes S$355m from Keppel Marina East Desalination Plant which is being monetised through Keppel Infrast
Slide 6: Growing Asia's leading asset management platform
Growing Asia’s leading asset management platform Harnessing Keppel’s strong engineering, project execution and operating capabilities, Asset Management is an increasingly pivotal horizontal that pulls the Group together to hunt as a pack and realise synergies. Accelerating AUM and recurring income g
Slide 7: Seizing opportunities as OneKeppel in growing energy & environment business
Seizing opportunities as OneKeppel in growing energy & environment business Renewable energy portfolioii Joint ✓ Expanding sources of stable recurring income acquisitions ✓ Strong deal flow pipeline in well-established markets, ~2.2GW announced YTDi with best-in-class operators and co-investors Clea
Slide 8: Scaling up in renewables, clean energy & decarbonisation solutions
Scaling up in renewables, clean energy & decarbonisation solutions Hydrogen EV Charging • Keppel Electric is the first entity in Singapore to be issued electricity importer licence by Energy Market Authority • Commenced first renewable energy import under two-year 100MW power purchase agreement with
Slide 9: Advancing transformation of Keppel Land into an asset-light urban space solutions provider
Advancing transformation of Keppel Land into an asset-light urban space solutions provider Accelerating landbank monetisation • Pivoting towards real estate-as-a-service with focus on growing recurring income Working to substantially monetise China and Vietnam landbank in the next 1-2 years, includi
Slide 10: Scaling up sustainable data centre solutions and subsea cable systems
Scaling up sustainable data centre solutions and subsea cable systems Data Centres • 3 projects announced by Keppel DC REIT and Keppel Data Centre Fund II YTD, bringing Group’s portfolio to 32 data centres upon completion of acquisitions • Embarked on Group's 6th project in China since entering the
Slide 11: M1 continues to expand the enterprise business and 5G offerings
M1 continues to expand the enterprise business and 5G offerings 5G connectivity solutions • Postpaid customer base grew to ~1.78 million customers, Progressing well on 5G SA network rollout - achieved more than 80% 2nd largest in Singapore outdoor coverage and working towards nationwide outdoor cove
Slide 12: Improving O&M business
Improving O&M business Outlook for O&M sector continues to improve with the increase in oil price Net orderbooki YTD contract wins of S$8.2b S$255m of S$4.2b 61% bareboat charter Includes P-80 FPSO project S$5.1b for Petrobras; in advanced contracts discussion on option for another FPSO worth US$2.8
Slide 13: Proposed combination of Keppel O&M and Sembcorp Marine on track
Proposed combination of Keppel O&M and Sembcorp Marine on track Anti-trust filings lodged; working towards completion by end-2022 Current structure Post-transaction structure KCL KCL shareholders shareholders 100% 46%1 100% 10%i Combined Entity Segregated Account 10% + securities 100% 100% 100% Out-
Slide 14: Realisable value from proposed O&M transactions
Realisable value from proposed O&M transactions Value (S$’m) Value per Sharei AssetCoii 4,050 S$2.29 Shares in Combined Entity based on Sembcorp Marine shares’ VWAP 4,874 S$2.75 as at signing dateiii S$500m Cash 500 S$0.28 Realisable Value from Proposed O&M Transactions 9,424 S$5.32 Out-of-Scope Ass
Slide 15: Keppel will be a focused provider of sustainable urbanisation solutions
Keppel will be a focused provider of sustainable urbanisation solutions, with an asset management arm, complemented by strong engineering, operations and maintenance capabilities in energy & environment, urban development and connectivity. Sustainability Asset light Technology 15
Slide 16: Disclaimer
Disclaimer NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION. THIS PRESENTATION SHALL NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL, SUBSCR