Keppel Infrastructure Trust · SGX:A7RU
Keppel Infrastructure Trust — H1 2022 Earnings Presentation
26 slides from Keppel Infrastructure Trust's earnings presentation, Jul 27, 2022
Slide 1: 1H 2022 Financial Results
1H 2022 Financial Results 27 July 2022
Slide 2: Outline
Outline 1H 2022 Highlights 3 Business Updates 7 Finance and Capital Management 12 Commitment to Sustainability 16 Constituent of: Awards and Accreditations: MSCI Singapore FTSE ST Large Small Cap Index & Mid-Cap Index 2
Slide 3: 1H 2022 Highlights
1H 2022 Highlights Aramco Gas Pipelines Company
Slide 4: 1H 2022 Highlights
1H 2022 Highlights Declared 2.7% year-on-year growth in DPU to 1.91 cents for 1H 2022 EBITDA (S$m) Strengthening cash flow resiliency through portfolio growth and optimization 10% 172.61,2 156.61 ▪ Making headway into the renewables sector ̶ Proposed investment in a European onshore wind platform, g
Slide 5: Making Headway in the Renewable Energy Market
Making Headway in the Renewable Energy Market Jointly investing with KLP, MEAG and Keppel Corp to acquire 49% stake in onshore wind platform ▪ Initial Portfolio with 258MW of operating projects and 1.3GW of Initial Portfolio pipeline potential1 across the Nordics and UK Lista, Högaliden, Fäbodliden,
Slide 6: Leveraging Sponsor Network for Growth
Leveraging Sponsor Network for Growth Signed term sheet with KIH to acquire 50% stake in the Keppel Marina East Desalination Plant Key Terms of Proposed Acquisition Enterprise Value Approx. S$355 million KIT’s Economic 100% Interest Expected To sign definitive agreements in 4Q 2022, subject to autho
Slide 7: Business Updates
Business Updates Ixom
Slide 8: Energy Transition
Energy Transition Operational Cash Flows (OCF) (S$m) ▪ Aramco Gas Pipelines Company: ̶ First quarterly contribution expected in 3Q 2022 43.1 (15)% ▪ City Energy: 36.8 ̶ Customer base grew 0.9% YoY to 881,000 as at end-Jun 2022: 23.4 23.0 Gradual improvement of gas demand from the Commercial & Indust
Slide 9: Environmental Services
Environmental Services Operational Cash Flows (OCF) (S$m) 35.9 4% 37.5 1H 2021 1H 2022 ▪ Fulfilled contractual obligations and operations remained stable ▪ Senoko WTE Plant ▪ Higher electricity costs at the Keppel Seghers Ulu Pandan NEWater ▪ Keppel Seghers Tuas WTE Plant Plant offset by gains from
Slide 10: Distribution & Storage
Distribution & Storage Operational Cash Flows (OCF) (S$m) ▪ Ixom: ̶ Robust performance with healthy demand from all sectors 42.5 6% 43.6 ̶ Expanded product offering with acquisition of Aromatic Ingredients, a Melbourne-based wholesaler, blender and contract manufacturer of essential oils 38.7 39.8 ̶
Slide 11: Portfolio Breakdown
Portfolio Breakdown as at 30 Jun 2022 By Businesses and Assets (%) By Geography (%) 22 5 7 Environmental Services, 8% 8 30 Distribution & S$4.7 billion Storage, 34% S$4.7 billion 58 8 30 4 15 Energy 13 Transition, 36% Ixom Singapore Philippine Coastal Australia, New Zealand and other countries City
Slide 12: Finance and Capital Management
Finance and Capital Management City Energy
Slide 13: Distributable Income
Distributable Income Higher DPU of 1.91 cents for 1H 2022 Distribution Per Unit (cents) 1H 2022 1H 2021 +/(-) S$’000 S$’000 % +2.7% Energy Transition 36,751 43,090 (14.7) 1.86 1.91 - City Energy 13,768 19,723 (30.2) - KMC 22,983 23,367 (1.6) 1H 2021 1H 2022 Environmental Services 37,464 35,945 4.2 D
Slide 14: Balance Sheet
Balance Sheet Building a strong balance sheet to support growth plans ▪ Comfortable debt headroom for growth: S$0.7b to 45% net gearing level ▪ Undrawn committed credit facilities: $153m Net gearing Balance Sheet (S$’m) 30 Jun 2022 31 Dec 2021 31.1% Cash 549 817 Weighted average interest rate Borrow
Slide 15: Capital Management
Capital Management Well-diversified debt maturity profile ▪ Issued $250m notes in May 2022 as part of the $2b Multicurrency Debt Issuance Programme ▪ Mitigate impact of currency fluctuations: 71% of foreign distributions hedged ▪ Weighted average term to maturity of 3.2 years for debt profile1 ▪ Wit
Slide 16: Commitment to Sustainability
Commitment to Sustainability Senoko WTE Plant
Slide 17: Advancing Sustainability, Driving Performance
Advancing Sustainability, Driving Performance Committed to achieving operational excellence that is led by our environmental, social and governance strategy and sustainability initiatives MSCI ESG Board Diversity ‘A’ rating 33.3% Formed dedicated Set ESG Board Environmental, targets Alignment with t
Slide 18: Continued Community Engagements
Continued Community Engagements Uplifting communities wherever we operate ▪ Keppel Capital dedicated more than 400 volunteering hours to support community outreach efforts in 1H 2022 Tree planting at the Labrador Nature Reserve, as part of Keppel’s pledge to plant 10,000 trees in Singapore over the
Slide 19: Thank You
Thank You www.kepinfratrust.com Connect with us on:
Slide 20: Additional Information
ICEPPEL INFRASTRUCTURE TRUST Additional Information
Slide 21: Diversified Portfolio with Maiden Investment in the Middle East
Diversified Portfolio with Maiden Investment in the Middle East Completed the investment in Aramco Gas Pipelines Company ▪ Part of a global consortium to acquire a 49% stake in Aramco Gas Pipelines Company, which holds a 20-year lease-and-lease-back agreement over the usage rights of Aramco’s gas pi
Slide 22: Exploring Renewable Opportunities in APAC and EMEA Markets
Exploring Renewable Opportunities in APAC and EMEA Markets Signed MOU with Jinko Power to jointly explore solar farm and energy storage projects ▪ Jinko Power to identify up to 1,000MW of developmental and operational assets in key developed markets of APAC, Europe and the Middle East for KIT’s cons
Slide 23: Portfolio Overview
Portfolio Overview Description Customer and contract terms Primary source of cash flows Fixed margin per unit of gas sold, Over 860,000 commercial and residential Energy Transition City Energy Sole producer and retailer of piped town gas with fuel and electricity costs passed customers through to co
Slide 24: 1H 2022: Distributable Income
1H 2022: Distributable Income Energy Environmenta l Distribution & KIT a nd S$'0 0 0 Group 1 Tra nsition Services Stora ge Holdco 1 Profit a fter ta x (30,573) (1,973) 35,676 1,215 4,345 Add/ (less) a djustments: Reduction in concession / lease receivables 26 30,844 - - 30,870 2 Transaction costs in
Slide 25: 1H 2021: Distributable Income
1H 2021: Distributable Income Energy Environmental Distribution & KIT and S$'000 Group Transition Services Storage Holdco1 Profit after tax (25,952) (1,017) (14,050) 30,987 (10,032) Add/ (less) adjustments: Reduction in concession / lease receivables 22 30,304 - - 30,326 Transaction costs in relatio
Slide 26: 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
Keppel Infrastructure Trust — H1 2022 Earnings Presentation on 6ix