Keppel Infrastructure Trust · SGX:A7RU
Keppel Infrastructure Trust — Merger or Acquisition (February 2024)
13 slides from Keppel Infrastructure Trust's merger presentation, Feb 5, 2024
Slide 1: Proposed Acquisition of Ventura, a Leading Transportation Business in Australia
Proposed Acquisition of Ventura, a Leading Transportation Business in Australia 5 February 2024
Slide 2: Important Notice
Important Notice NOT FOR DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES, EUROPEAN ECONOMIC AREA, CANADA, JAPAN, MALAYSIA, THAILAND OR AUSTRALIA The information contained in this presentation is for information purposes only and does not constitute or form part of, a
Slide 3: Acquisition of Ventura: A Leading Transportation Business in Australia
Acquisition of Ventura: A Leading Transportation Business in Australia Essential service that supports Melbourne’s population growth and sustainable commute ▪ KIT to acquire approx. 98.6%1,3 interest in Ventura Motors Pty Ltd (Ventura), the largest bus operator in Victoria ▪ Highly accretive acquisi
Slide 4: Ventura: A Century of Service History
Ventura: A Century of Service History Victoria’s largest bus operator, providing essential transport services in Melbourne 100 years ~900 bus fleet ~32% A$295m3 Operations (since 1924) including 27 ZEBs1 Market share2 FY 2023 revenue >42m p.a. 12 depots ~100% A$76m3 Passengers transported Serving ~5
Slide 5: Defensive Business with Growth in Private Markets
Defensive Business with Growth in Private Markets > 80% of revenues backed by long-term inflation-protected government contracts with no farebox risk Government Private Mass Transit Public Schools Private Charter Private Schools High frequency services Bus services contracted to Bus services contrac
Slide 6: Key Investment Highlights
Key Investment Highlights Attractive entry point into the transportation infrastructure sector 1 2 3 4 5 6 Largest bus Attractive Defensive Strong and Accretive Electrification operator in market with revenues with proven platform acquisition that theme Victoria with favourable cost indexation of sc
Slide 7: 1. Largest Bus Operator in Victoria with best-in-class performance
1. Largest Bus Operator in Victoria with best-in-class performance Core pillar of Melbourne’s transportation landscape Largest fleet in Victoria ▪ Largest share of public bus No. of buses in Victoria1 912 No. of Public Routes1 services market in Victoria 532 602 589 ▪ Fast-growing private bus 381 ch
Slide 8: 2. Attractive Market with Favourable Tailwinds
2. Attractive Market with Favourable Tailwinds Buses: A critical transport link between Melbourne’s fastest growing regions MELBOURNE Key Growth Drivers Residential Bus reform and development network optimisation Acceleration of Delivery of new commercial and transport Victoria Government routes to
Slide 9: 3. Defensive Cash Flows with Cost Indexation and Capital Reimbursement
3. Defensive Cash Flows with Cost Indexation and Capital Reimbursement Majority of revenues derived from long-term, inflation-protected government contracts Cost-indexed payments > 80% of revenues ▪ Fixed-fee; inflation-protected from MBSC − No farebox / patronage risk − Stable revenue based on serv
Slide 10: 4. Strong Platform of Scale to Capture Growth Opportunities
4. Strong Platform of Scale to Capture Growth Opportunities Pursue growth opportunities within existing business and adjacent verticals Capture upsides within key regions Leveraging technology for vertical and horizontal growth 1 Increase service kilometres 3 Grow new Differentiating 4 and optimise
Slide 11: 5. Accretive Acquisition that Strengthens Portfolio Resiliency
5. Accretive Acquisition that Strengthens Portfolio Resiliency Pro forma DPU to increase by 3.4% based on FY 2023 Distributions Funds from Operations (FFO)2 Enlarged Portfolio: AUM to grow by 7% to 8.7b post-acquisition 6.1% By Business and Assets Assets under Management (AUM) By Geography From $287
Slide 12: 6. Electrification Thematic Supporting KIT's ESG Targets
6. Electrification Thematic Supporting KIT's ESG Targets Clear pathway to electrification KIT’s carbon emissions intensity2 Owns and operates Victoria’s first fully electric bus Carbon emissions (‘000tCO2) / Distributable Income (S$m) depot 8% Key partner in Victorian government’s ZEBs trial, From 6
Slide 13: Thank You
Thank You www.kepinfratrust.com Connect with us on:
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