Keppel Infrastructure Trust · SGX:A7RU
Keppel Infrastructure Trust — Citi Pan-Asia Regional Investor Conference 2021
23 slides from Keppel Infrastructure Trust's conference presentation, Jun 2, 2021
Slide 1: Citi Pan-Asia Regional Investor Conference
Citi Pan-Asia Regional Investor Conference 2 June 2021
Slide 2: Outline
Outline 1 Overview of Keppel Infrastructure Trust (KIT) 3 2 1Q 2021 Operational Updates 9 3 Additional Information 18 2
Slide 3: Overview of KIT
KEPPEL INFRASTRUCTURE TRUST
Slide 4: KIT: Largest Singapore-listed Diversified Business Trust
KIT: Largest Singapore-listed Diversified Business Trust • The largest diversified Business Trust listed in Singapore with a portfolio of strategic businesses and assets that provide essential products and services • Long-term growth and sustainable cash flows supported by defensive evergreen busine
Slide 5: Highly Defensive Portfolio Delivering Stable Cash Flows
Highly Defensive Portfolio Delivering Stable Cash Flows Portfolio of strategic businesses and assets across a broad range of highly defensive industries that delivers long-term sustainable cash flows to Unitholders Distribution & Network • City Gas Strategic businesses and assets with potential for
Slide 6: Geographical Presence
Geographical Presence ENERGY WASTE & WATER Assets under Management1 $5.1 b 6 1. Assets under management includes Philippine Coastal, which was acquired on 29 January 2021
Slide 7: Well-Diversified Customer Base and Reputable Off-takers
Well-Diversified Customer Base and Reputable Off-takers Customers & Off-takers Highlights More than 870,000 residential, City Gas ✓ Sole producer and retailer of town gas in Singapore commercial and industrial customers ✓ Sole manufacturer and provider of liquefied chlorine in Australia, as well as
Slide 8: Portfolio Breakdown
Portfolio Breakdown By Businesses and Assets (%) By Geography (%) As at 31 Mar 2021 As at 31 Mar 2021 18.7 Waste 11.9 & Water 8.1 53.3 $5.1 billion1 17.4 Distribution 46.7 $5.1 billion1 14.6 & Network Energy 3.9 25.4 City Gas Basslink Ixom Philippine Coastal Singapore KMC Waste & Water Australia, Ne
Slide 9: 1Q 2021 Operational Updates
1Q 2021 Operational Updates City Gas
Slide 10: 1Q 2021 Key Operational Performance
1Q 2021 Key Operational Performance Healthy YoY Growth in Operational Cash Flows KIT continues to deliver resilient cash flows backed by its diversified portfolio of essential businesses and assets Completed the Acquisition of Philippine Coastal1 The strategic addition of Philippine Coastal will str
Slide 11: 1Q 2021 Key Business Updates - Distribution & Network
1Q 2021 Key Business Updates - Distribution & Network City Gas • Customer base grew 0.8% YoY to 870,000 as at end-Mar 2021 • Residential consumption of town gas remains healthy, while town gas volume from Commercial & Industrial customers remains below pre COVID-19 levels • OCF was lower YoY due to
Slide 12: 1Q 2021 Key Business Updates - Energy and Waste & Water
1Q 2021 Key Business Updates - Energy and Waste & Water Keppel Merlimau Cogen Plant • Achieved 100% contracted availability • KMC has no tariff exposure to the Singapore wholesale electricity market and has no exposure to fluctuations in fuel oil prices • KMC receives a fee for delivering the availa
Slide 13: Free Cash Flow to Equity
Free Cash Flow to Equity 1Q 2021 1Q 2020 +/(-) S$’000 S$’000 % Distribution & Network 37,261 28,207 32.1 City Gas 10,965 11,857 (7.5) Ixom 24,458 16,350 49.6 Philippine Coastal 1,838 - 100.0 Energy 11,059 11,202 (1.3) Waste & Water 18,223 18,138 0.5 Operational Cash Flows 66,543 57,547 15.6 KIT and
Slide 14: Balance Sheet and Capital Management
Balance Sheet and Capital Management Debt Repayment Profile Debt Breakdown by Currency Mar 2021 Dec 2020 ($m) ($m) > 5 yr < 1 yr 18.2% 32.0% Cash 497 581 A$50.3% Borrowings 2,398 2,161 S$49.7% Net debt 1,901 1,580 1-5 yrs Total assets 5,099 4,930 49.8% Amount Maturity/ Total liabilities 3,616 3,435
Slide 15: Three-pronged Growth Strategy
Three-pronged Growth Strategy Value Operational Focused Creation Excellence Acquisition • Generate and grow cash flows • Achieve operational excellence • Seek leading businesses and from KIT’s well-diversified and asset optimisation to extract assets with the following portfolio of businesses and fu
Slide 16: Commitment to Sustainability
Commitment to Sustainability ENVIRONMENTAL RESPONSIBLE PEOPLE AND STEWARDSHIP BUSINESS COMMUNITY We will do our part to combat climate The long-term sustainability of our business People are the cornerstone of our business. change and are committed to improving is driven at the highest level of the
Slide 17: Thank You
Thank You Constituent of: www.kepinfratrust.com MSCI Singapore FTSE ST Large Connect with us on: Small Cap Index & Mid-Cap Index Philippine Coastal
Slide 18: Additional Information
Additional Information Keppel Merlimau Cogen Plant
Slide 19: Historical Free Cash Flow to Equity (FCFE) and Payout Ratio
Historical Free Cash Flow to Equity (FCFE)1 and Payout Ratio FCFE Payout ($m) Ratio (%) 250 225.7 100 200 188.7 80 149.5 144.2 150 141.2 60 100 40 50 20 0 0 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FCFE Payout Ratio 1. FCFE is equivalent to distributable cash flow. FCFE is net of trust expenses, dist
Slide 20: Driving Growth
Driving Growth Deliver recurring distributions and growth over the long term Anchored By acquiring strategic businesses and assets across a broad range of highly defensive industries Benchmarks High barriers to entry Provider of essential Creditworthy off- Defensive and Jurisdictions with with a dom
Slide 21: Portfolio Overview (1) - Distribution & Network
Portfolio Overview (1) Description Customer and contract terms Primary source of cash flows Fixed margin per unit of gas City Gas Sole producer and retailer of Over 870,000 commercial and sold, with fuel and electricity Singapore piped town gas residential customers costs passed through to consumer
Slide 22: Portfolio Overview (2) - Energy
Portfolio Overview (2) Description Customer and contract terms Primary source of cash flows Keppel Capacity Tolling Agreement with Energy Merlimau 1,300MW combined cycle gas Keppel Electric until 2030 with option Fixed payments for meeting Cogen turbine power plant for 10-year extension (land lease
Slide 23: 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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