Half Year 2026 Keppel Infrastructure Trust Earnings Call Transcript
Key Points
- Keppel Infrastructure Trust (KPLIF) achieved total returns of 13% year-to-date, demonstrating strong performance and investor confidence.
- The company successfully secured 100% of its FY 2026 refinancing requirements ahead of maturity, showcasing effective capital management.
- Interest coverage ratio improved to 8.3 times, reflecting strong cash flows and disciplined financing.
- Approximately 80% of net proceeds from divestments have been redeployed into strategic acquisitions, enhancing the portfolio's growth potential.
- The portfolio's resilience is supported by long-term contracts and diversified cash flows, with no operational disruptions reported amid Middle East conflicts.
- City Energy experienced fuel cost under-recovery due to higher fuel and energy prices, impacting financial performance.
- Environmental services revenue dropped from $25.7 million to $18.5 million, partly due to the decline in DI from SingSpring.
- Net gearing increased to 44.2% from 31 December 2025, primarily due to reduced cash position and capital deployment.
- The German solar portfolio showed negative DI in Q2 due to scheduled debt amortization, affecting overall performance.
- The incineration business at EMK is expected to have lower contributions in the next six months due to plant expansion activities.
Morning, everyone. Welcome to the KIT 1st Half 2026 Blue Jobs Audio Webcast. I'm Marilyn from the IR and Sustainability team.
Joining me today from the KIT management team are CEO, Mr. Kevin Yeo. CFO, Mr. Raymond Bay, and Director of Portfolio Management, Mr. Ben Chun.
They will cover KIT's first half 2026 highlights and business strategy, followed by business performance across the portfolio, and close with capital and balance sheet development.
Please leave your questions for the Q&A session at the end of the presentation.
For analysts who are joining us on the Ms. Teams platform, please check that you're on mute throughout the presentation.
For those joining us online via the webcast platform, please type your questions via the chat box provided.
I will now hand the time over to Kevin for the presentation. Second please.
Thanks
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