Keppel Infrastructure Trust · SGX:A7RU
Keppel Infrastructure Trust — SGX-UBS Singapore REIT/Infrastructure Virtual Corporate Day 2020
21 slides from Keppel Infrastructure Trust's conference presentation, Nov 24, 2020
Slide 1: SGX-UBS Singapore REIT/Infrastructure Virtual Corporate Day 2020
SGX-UBS Singapore REIT/Infrastructure Virtual Corporate Day 2020 24 November 2020
Slide 2: Outline
Outline 1 Overview 3 2 3Q 2020 Business and Operational Updates 9 3 Additional Information 16 2
Slide 3: Overview
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Slide 4: Overview of KIT
Overview of KIT • The largest diversified Business Trust listed in Singapore with a portfolio of strategic businesses and assets that provide essential products and services • Assets under Management of $5.1b as at 30 September 2020 • Long-term sustainable cash flows supported by AAA Singapore Gover
Slide 5: Geographical Presence
Geographical Presence Distribution & Network Energy Waste & Water 5
Slide 6: Well-Diversified Customer Base and Reputable Off-takers
Well-Diversified Customer Base and Reputable Off-takers Customers & Off-takers Highlights More than 860,000 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 7: Portfolio Breakdown
Portfolio Breakdown By Businesses and Assets (%) By Geography (%) As at 30 September 2020 As at 30 September 2020 19.4 11.9 8.9 $5.1 billion 44.7 $5.1 billion 55.3 18.0 15.1 26.7 City Gas Basslink Singapore Australia, New Zealand and other countries Ixom KMC Waste & Water Trust assets and non-contro
Slide 8: Stable Distributions backed by Resilient DCFs
Stable Distributions backed by Resilient DCFs Stable Distribution (cents)1 Distributable Cash Flows (DCFs) 3.72 3.72 3.72 3.72 DCF ($M) Payout Ratio (%) 200.0 188.7 105 1.86 1.86 1.86 1.86 180.0 1.86 158.5 160.0 149.5 144.2 100 1.86 1.86 1.86 1.86 1.86 141.2 140.0 120.0 95 FY 2016 FY 2017 FY 2018 FY
Slide 9: 3Q 2020 Key Business and Operational Updates
3Q 2020 Key Business and Operational Updates Ixom
Slide 10: Operational Performance
Operational Performance Resilient year-to-date performance Resilient Group EBITDA performance supported by strong operational execution, productivity improvements and prudent cost management, in particular for Ixom and City Gas All businesses and assets are classified as essential services No operat
Slide 11: 3Q 2020 Business Updates - Distribution & Network
3Q 2020 Business Updates - Distribution & Network Operational Cash Flows ($m) City Gas City Gas (13)% 11.2 • Customer base grew 0.9% YoY to 864,000 as at end-Sep 2020 9.8 • Continued improvement in town gas demand from Commercial & Industrial customers after Singapore entered Phase 2 of re-opening •
Slide 12: 3Q 2020 Business Updates - Energy and Waste & Water
3Q 2020 Business Updates - Energy and Waste & Water Operational Cash Flows ($m) Energy 12.5 Keppel Merlimau Cogen Plant 16% • Achieved 100% contracted availability 10.8 • Cash flows were lower in 3Q 2019 due to unplanned maintenance expense • KMC has no tariff exposure to the Singapore wholesale ele
Slide 13: Balance Sheet and Capital Management
Balance Sheet and Capital Management Balance Sheet As at 30 Sep 2020 Debt Repayment Debt Breakdown by ($m) Profile Currency > 5 yr Cash 532 < 1 yr 19.4% 31.7% Borrowings 2,239 A$55.0% S$45.0% Net debt 1,707 Total assets 5,070 1-5 yrs Total liabilities 3,486 48.9% Annualised EBITDA1 379 Amount Maturi
Slide 14: Three-pronged Growth Strategy
Three-pronged Growth Strategy Value Operational Focused Creation Excellence Acquisition • Generate sustainable cash • Achieve operational excellence • Seek leading businesses and flows from the Trust’s well- and asset optimisation to extract assets with the following diversified portfolio of further
Slide 15: Thank You
Thank You Constituent of: www.kepinfratrust.com MSCI Singapore FTSE ST Large Connect with us on: Small Cap Index & Mid-Cap Index City Gas
Slide 16: Additional Information
Additional Information Tuas WTE Plant
Slide 17: Resilient Distributable Cash Flows
Resilient Distributable Cash Flows 3Q 2020 3Q 2019 +/(-) 9M 2020 9M 2019 +/(-) S$’000 S$’000 % S$’000 S$’000 % Distribution & 22,982 34,244 (32.9) 91,419 79,194 15.4 Network City Gas 9,826 11,234 (12.5) 38,837 37,496 3.6 Ixom 13,156 21,683 (39.3) 52,582 37,717 39.4 DC One1 - 1,327 (100.0) - 3,981 (1
Slide 18: Driving Sustainable Growth
Driving Sustainable Growth KIT’s strategic goal is to deliver sustainable returns to its Unitholders, through a combination of recurring distributions and capital growth over the long term Anchored By a growing portfolio of strategic businesses and assets across a broad range of highly defensive ind
Slide 19: Distribution & Network Portfolio Overview
Portfolio Overview Description Customer and contract terms Primary source of cash flows City Gas Fixed margin per unit of gas sold, Distribution & Network Sole producer and retailer of piped town Over 860,000 commercial and residential with fuel and electricity costs passed Singapore gas customers t
Slide 20: Difference Between Business Trust & REIT
Difference Between Business Trust & REIT Business Trusts REITs Asset Class • No restriction • Real estate Depreciation/ • No impact on distribution payout • No impact on distribution payout Revaluation Gearing Limit • None • 50% • Subject to income tax • Exemption for income from Taxation • Tax tran
Slide 21: 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