Keppel Infrastructure Trust · SGX:A7RU

Keppel Infrastructure Trust — CitySpring Infrastructure Trust — Q1 FY2011 Earnings Presentation

18 slides from Keppel Infrastructure Trust's earnings presentation, Aug 12, 2010

  1. Slide 1: Results Briefing for 1Q FY11

    Results Briefing for 1Q FY11 12 August 2010

  2. Slide 2: Disclaimer

    Disclaimer This presentation is not and does not constitute or form part of, and is not made in connection with, any offer, invitation or recommendation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any units of CitySpring Infrastructure Trust (“CitySpring”) and ne

  3. Slide 3: Contents

    Co te ts Contents 1 Overview 2 Group Financial Results 3 Subsidiaries’ Financial Results Private and Confidential 2

  4. Slide 4: Overview

    Overview • Total cash earnings(1) for the quarter ended 30 Jun 2010 (“1Q FY11”) was S$17.8 million • For 1Q FY11, CitySpring y p g will p pay y a distribution p per unit ((“DPU”)) of 1.05 Singapore g p cents, in line with the target distribution guidance(2) (1) Cash earnings is defined as EBITDA adj

  5. Slide 5: Overview: City Gas Business Highlights

    Overview Business Highlights • City Gas achieved total cash earnings of $13.1 $ million for the quarter • Its customer base grew by 2% from 611,000 as at the end of 1Q FY10 to about 623,000 as at the end of 1Q FY11 City Gas • Town gas volume growth has improved for most segments of the market served

  6. Slide 6: Overview: SingSpring Business Highlights

    Overview Business Highlights • SingSpring achieved total cash earnings of S$4.1 million for the quarter • SingSpring Si S i continues ti t maintain to i t i record d off 100% availability il bilit and d mett allll the th terms t SingSpring under the WPA with PUB • For 1Q FY11, SingSpring supplied an

  7. Slide 7: Overview: Basslink Business Highlights

    Overview Business Highlights • Basslink achieved cash earnings of A$2.5 million for the quarter • Lower cash earnings was due mainly to negative CRSM payment • An unplanned outage due to the failure of a valve-cooling pipe component occurred during 17-26 Apr 2010. This resulted in reduced facility f

  8. Slide 8: Contents

    Co te ts Contents 1 Overview 2 Group Financial Results 3 Subsidiaries’ Financial Results Private and Confidential 7

  9. Slide 9: Group Consolidated Income Statement

    Group Financial Results Group p Consolidated Income Statement 1Q FY11 1Q FY10 Actual Actual Change S$’000 S$’000 % Revenue 103,870 82,833 25.4 Other income 700 508 37.8 Other (losses)/gains - net (1,308) 47 N/M Total expenses (106 315) (106,315) (86 637) (86,637) (22 7) (22.7) Loss before fair value

  10. Slide 10: Group Cash Earnings

    Group Financial Results Group p Cash Earnings g 1Q FY11 1Q FY10 FY10 S$'000 S$'000 S$'000 Cash Earnings 17 800 17,800 13 866 13,866 57 853 57,853 Applied as follows: Principal Repayment of SingSpring Loan (2,250) (2,366) (9,463) Non-controlling interest (997) (1,173) (4,588) Distribution to Unithold

  11. Slide 11: Contents

    Co te ts Contents 1 Overview 2 Group Financial Results 3 Subsidiaries’ Financial Results Private and Confidential 10

  12. Slide 12: Subsidiaries' Financial Results: City Gas

    Subsidiaries’ Financial Results City y Gas 1Q FY11 1Q FY10 Actual Actual Change $ S$'000 S$'000 $ % Revenue 75,213 56,510 33.1 Other income 86 133 (35.3) Other ((losses)/gains )g - net (13) (5) 160.0 Expenses Fuel and electricity costs (32,402) (20,658) (56.8) Transportation costs (18,745) (17,861)

  13. Slide 13: Subsidiaries' Financial Results: SingSpring

    Subsidiaries’ Financial Results SingSpring g p g 1Q FY11 1Q FY10 Actual Actual Ch Change S$'000 S$'000 % Revenue 10,631 8,174 30.1 Oth income Other i 2 4 (50 0) (50.0) Expenses Fuel and electricity costs (3,765) (1,879) (100.4) Depreciation and amortisation (912) (912) - Operation and maintenance co

  14. Slide 14: Subsidiaries' Financial Results: Basslink

    Subsidiaries’ Financial Results Basslink 1Q FY11 1Q FY10 Actual Actual Change A$'000 A$'000 % Revenue 14,673 16,206 (9.5) Other income 438 317 38.2 Other gains - net - 10 N/M Expenses Fuel and electricity costs (70) (69) (1.4) Depreciation and amortisation (7,057) (6,942) (1.7) Staff costs (447) (46

  15. Slide 15: Appendix

    Appendix Private and Confidential 14

  16. Slide 16: Group Consolidated Balance Sheet

    Group Financial Results Group p Consolidated Balance Sheet As at 30 June 10 As at 31 Mar 10 S$'000 S$'000 ASSETS Cash and bank deposits 128,657 132,975 Derivative financial instruments 53,109 108,139 Trade and other receivables 47,515 52,795 Inventories 13,667 13,552 Intangibles 432,026 438,807 Fi F

  17. Slide 17: Group Consolidated Cash Flow Statement

    Group Financial Results Group p Consolidated Cash Flow Statement 1Q FY11 1Q FY10 Actual Actual S$'000 $ S$'000 $ Cash flows from operating activities Net (loss)/profit after income tax (21,856) 24,358 Non-cash adjustments 52,920 2,741 Operating cash flow before working capital changes 31 064 31,064

  18. Slide 18: Group Cash Earnings

    Group Financial Results Group p Cash Earnings g 1Q FY11 1Q FY10 Actual Actual S$'000 S$'000 EBITDA 24,721 35,402 Add/(less): Lease receivable repayment 1,792 1,725 Net finance cost (16,219) (15,698) Fair value loss/(gain) on derivative financial instruments 6,112 (7,945) Other non-cash flow expenses

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