Keppel Infrastructure Trust · SGX:A7RU
Keppel Infrastructure Trust — 3Q 2024 Earnings Presentation
24 slides from Keppel Infrastructure Trust's earnings presentation, Oct 23, 2024
Slide 1: 3Q 2024 Operational Updates
3Q 2024 Operational Updates 23 October 2024
Slide 2: Outline
Outline 3Q 2024 Highlights 3 Business Updates 6 Divestment of Philippine Coastal 11 Finance and Capital Management 13 Additional Information 19 Constituent of: Awards and Accreditations1: MSCI Singapore FTSE ST Large Small Cap Index & Mid-Cap Index 1. Keppel Infrastructure Fund Management Pte. Ltd.
Slide 3: 3Q 2024 Highlights
3Q 2024 Highlights Ventura
Slide 4: 3Q 2024 Highlights
3Q 2024 Highlights Underpinned by contributions from new acquisitions and KMC Defensive cash flows supported by portfolio of critical assets and businesses 9M 2024 Distributable Income (DI) was $106.1m versus 9M 2023 DI of $266.1m which Operating included a special distribution of $131.2m performa
Slide 5: Driving Portfolio Growth through Acquisitions and Value Creation
Driving Portfolio Growth through Acquisitions and Value Creation Well-positioned for growth Expanded into transportation infrastructure 2023-2024 milestones Acquisition of Ventura Made 1st solar investment German Solar Portfolio Jun 2024 Jan 2024 Concession and CTA extended Dec 2023 Dec 2022 Senoko
Slide 6: Business Updates
Business Updates Ixom
Slide 7: Business Updates: Energy Transition
Business Updates: Energy Transition Supports the transition to a low-carbon economy and furthers KIT’s decarbonisation roadmap City Energy: Building new growth engines Continued performance of investments Renewables German German Solar Portfolio European Offshore Wind Portfolio Onshore Wind Platform
Slide 8: Business Updates: Environmental Services
Business Updates: Environmental Services Provides the essential services that protect human health and safeguard the environment EMK: Driving business performance Stable contributions from concession assets Singapore waste and water assets Senoko Waste- Keppel Seghers to-Energy (WTE) Tuas WTE Plant
Slide 9: Business Updates: Distribution & Storage
Business Updates: Distribution & Storage Supporting and driving economic growth Ventura: Platform of scale to capture growth Secured early extension of bus service contracts to 20281 on achievement of key performance targets Availability-based revenue that does not fluctuate with passenger volum
Slide 10: Business Updates: Distribution & Storage
Business Updates: Distribution & Storage Supporting and driving economic growth Ixom: Sharpen business for growth Philippine Coastal: Capacity expansion completed Strong performance by Australia and New Zealand Water segments, supported by Mining and Bitumen segments. High tank utilisation rate
Slide 11: Divestment of Philippine Coastal
Divestment of Philippine Coastal Philippine Coastal Storage & Pipeline Corporation
Slide 12: Divestment of Philippine Coastal
Divestment of Philippine Coastal Entered into a sale and purchase agreement for the sale of KIT’s entire equity interest of 50% in Philippine Coastal Storage & Pipeline Corporation (PSCPC); expected completion by early 2025. Divestment of Philippine Coastal for an enterprise value of US$460m (S$
Slide 13: Finance and Capital Management
Finance and Capital Management City Energy
Slide 14: 9M 2024 Distributable Income (DI) (1/2)
9M 2024 Distributable Income (DI) (1/2) Contribution from new acquisitions and resumption of KMC DI S$’000 9M 2024 9M 2023 +/(-) % Remarks Energy Transition 109,933 106,998 2.7 - City Energy 34,585 44,245 (21.8) Lower fuel cost over-recovery due to timing of fuel cost passthrough ($9.3m). Resumption
Slide 15: 9M 2024 Distributable Income (DI) (2/2)
9M 2024 Distributable Income (DI) (2/2) Contribution from new acquisitions and resumption of KMC DI S$’000 9M 2024 9M 2023 +/(-) % Remarks Energy Transition 109,933 106,998 2.7 Please refer to slide 14 for the variance analysis. Environmental Services 48,209 57,661 (16.4) Please refer to slide 14 fo
Slide 16: Balance Sheet
Balance Sheet Building a strong balance sheet to support growth Undrawn committed credit facilities Balance Sheet (S$’m) 30 Sep 2024 31 Dec 2023 $611m Cash 459.8 482.6 Interest Coverage Ratio Borrowings 2,945.8 2,717.0 11.9x Net debt 2,486.0 2,234.4 Weighted average interest rate 4.57% Total assets
Slide 17: Capital Management
Capital Management Well-spread debt maturity profile with healthy capital management metrics Successfully raised $200m from placement to new and existing investors. Optimised KIT’s capital structure with issuance of $200m 4.90% perpetual securities. Fully repaid the term loan drawn to acquire
Slide 18: Thank You
Thank You www.kepinfratrust.com Connect with us on: Borkum Riffgrund 2
Slide 19: Additional Information
ICEPPEL I< | | INFRASTRUCTURE TRUST Additional Information
Slide 20: Voluntary Independent Portfolio Valuation
Voluntary Independent Portfolio Valuation Portfolio AUM of $8.7b with new acquisitions and value creation initiatives Improve transparency and better reflect asset values which are largely recognised at cost in statutory reports Higher y-o-y AUM of $8.7b driven by new acquisitions and growth in
Slide 21: Energy Transition Portfolio Overview as at Sep 2024
Portfolio Overview as at 30 Sep 2024 Total Assets1 Description Customer Revenue model (S$’m) Sole producer and retailer of piped town gas; expanded Fixed margin per unit of gas sold, > 900,000 commercial and residential City Energy into LPG business, as well as with fuel and electricity costs custom
Slide 22: Environmental Services Portfolio Overview as at Sep 2024
Portfolio Overview as at 30 Sep 2024 Total Assets1 Description Customer Revenue model (S$’m) NEA, Singapore government agency - Waste-to-energy plant with 2,310 Senoko WTE concession until 2027 with option for Fixed payments for availability of tonnes/day waste incineration Plant up to 1-year extens
Slide 23: Distribution & Storage Portfolio Overview as at Sep 2024
Portfolio Overview as at 30 Sep 2024 Total Assets1 Description Customer Revenue model (S$’m) Manufacturer and distributor of Over 17,000 business and municipal Payments from customers for Distribution & Storage water treatment chemicals, Ixom customers, and over 35,000 retail delivery of products an
Slide 24: 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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