Keppel Infrastructure Trust · SGX:A7RU
Keppel Infrastructure Trust — Q1 2023 Earnings Presentation
22 slides from Keppel Infrastructure Trust's earnings presentation, Apr 14, 2023
Slide 1: 1Q 2023 Operational Updates
1Q 2023 Operational Updates 14 April 2023
Slide 2: Outline
Outline 1Q 2023 Highlights 3 Business Updates 6 Finance and Capital Management 10 Commitment to Sustainability 14 Additional Information 17 Constituent of: Awards and Accreditations1: MSCI Singapore FTSE ST Large Small Cap Index & Mid-Cap Index 1. Keppel Infrastructure Fund Management Pte Ltd is a s
Slide 3: 1Q 2023 Highlights
1Q 2023 Highlights Philippine Coastal
Slide 4: 1Q 2023 Highlights
1Q 2023 Highlights Strong performance supported by portfolio growth and transformation Distributable income (DI) ▪ New acquisitions and investments in FY 2022 EBITDA contributed $36.4m or 38.5% of Asset $73.9m $125.9m1 Distributable Income for 1Q 2023 +65.5% +40.5% ▪ Steady portfolio performance in
Slide 5: Strategic Review of Ixom
Strategic Review of Ixom Focused on next phase of growth ▪ Ran a thorough process with financial advisor: received strong interests from mix of financial and strategic investors ▪ Macro uncertainties made investors more cautious: Pricing affected by rising costs of funding and the tightening of debt
Slide 6: Business Updates
Business Updates Aramco Gas Pipelines Company
Slide 7: Energy Transition
Energy Transition ▪ European renewable energy investments Distributable Income (S$m) ̶ Onshore Wind Platform: expecting first dropdown asset in 2H 2023 >100.0% 48.7 ̶ BKR2: German government implemented price cap of €214/MWh 19.5 until 30 Jun 20231; price cap above FiT of €184/MWh 21.2 1.8 9.9 10.7
Slide 8: Environmental Services
Environmental Services Distributable Income (S$m) ▪ Eco Management Korea Holdings (EMK) 28.3% 22.3 ̶ Maintained full utilisation of incineration business 17.4 4.4 17.9 ̶ Secured new contract for landfill business ̶ Continue to explore accretive bolt-on opportunities ▪ Singapore waste and water asset
Slide 9: Distribution & Storage
Distribution & Storage Distributable Income (S$m) ▪ Ixom ̶ Continue to pursue value-enhancing opportunities: 9.9% 21.4 23.5 i. growing core businesses through M&A 19.4 21.0 ii. driving performance of new acquisitions 2.0 2.5 iii. further streamlining of the business, and 1Q 2022 1Q 2023 Philippine C
Slide 10: Finance and Capital Management
Finance and Capital Management City Energy
Slide 11: Distributable Income
Distributable Income Stronger performance supported by portfolio growth S$’000 1Q 2023 1Q 2022 +/(-) % Energy Transition 48,723 21,260 >100.0 - City Energy 16,715 9,924 68.4 - Aramco Gas Pipelines Company 10,709 - NM - KMC1 - 11,336 NM - European Onshore Wind Platform 1,839 - NM - BKR2 19,460 - NM E
Slide 12: Balance Sheet
Balance Sheet Building a strong balance sheet to support growth plans ▪ Comfortable debt headroom for growth: Approx. $248m to 45% net gearing level ▪ Mitigating impact of currency fluctuations: 83.7% foreign distributions hedged ▪ Approx. 75.2% of floating interest rates hedged1 as at 31 Mar 2023,
Slide 13: Capital Management
Capital Management Well-diversified debt maturity profile Debt Breakdown by Currency as at 31 Mar 2023 A$: 20.3% ▪ Paid down $142m of $580m bridge facilities with longer-term debt through City Energy’s $400m loan facility obtained in Jan 2023 S$2.9b ▪ Reviewing KMC’s capital structure, including the
Slide 14: Commitment to Sustainability
Commitment to Sustainability European Onshore Wind Platform
Slide 15: Championing Innovative Green Energy solutions
Championing Innovative Green Energy solutions On track to achieve ESG targets ▪ Completed the installation of solar PV system with a generation capacity of 0.2 MWp at City Energy in Progressing towards ESG targets Feb 2023, increasing KIT’s total solar capacity to 2.2MWp for operational needs ▪ 30%
Slide 16: Thank You
Thank You www.kepinfratrust.com Connect with us on:
Slide 17: Additional Information
ICEPPEL INFRASTRUCTURE TRUST Additional Information
Slide 18: 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 2 WTE plants with a Capable of processing up combined capacity to treat to 19% of desalinated approx. 40% of Sin
Slide 19: Inaugural Portfolio Revaluation
Inaugural Portfolio Revaluation AUM of $7.3b for FY 2022 By Business and Assets ▪ Improve portfolio transparency and better reflect asset values Others, 1% Energy Transition, 60% ▪ Conducted by independent third-party valuer, Ernst & Young1 S$7.3b ▪ Reflects enlarged portfolio AUM of $7.3b for FY 20
Slide 20: Energy Transition Portfolio Overview
Portfolio Overview as at 31 Mar 2023 Description Customer and contract terms Primary source of cash flows Total Assets1 (S$’m) Fixed margin per unit of gas sold, Sole producer and retailer of piped Over 886,000 commercial and City Energy with fuel and electricity costs passed town gas residential cu
Slide 21: Environmental Services Portfolio Overview
Portfolio Overview as at 31 Mar 2023 Total Assets1 Description Customer and contract terms Primary source of cash flows (S$’m) Waste-to-energy plant with 2,310 NEA, Singapore government agency - Senoko WTE Fixed payments for availability of tonnes/day waste incineration concession until 2024 (Singap
Slide 22: 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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