Keppel Corporation 2Q & 1H 2020 Results Presentation Slides

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2Q & 1H 2020
Financial Results
30 July 2020

2
• Address by CEO
• Group Financial Highlights by CFO
Scope of Briefing

3
Address by CEO

10
(959)
262 197
59
252
25
(27)
1H 2019 1H 2020
Offshore & Marine Property
Infrastructure Investments
4
Financial Performa...

5
Offshore & Marine
(5)
(680)
6 3
9
(282)
1H 2019 1H 2020
New Builds Conversions & Repairs Associates
10
(959)
i
i Include...

6
Offshore & Marine
• Net orderbook of S$3.5b as at end-Jun 2020 will keep Keppel O&M busy
for at least two years
• Delive...

128
30
112
143
22
24
1H 2019 1H 2020
Property trading Property investment REIT
S$m
0
7
Property
262
197
• About S$3.9b in ...

8
Property
1,140
1,050
610
10
110
80
50
60
190
30
1H 2019 1H 2020
China Vietnam Singapore Indonesia India
1,230
2,100
Unit...

56
206
14
44
(11)
2
1H 2019 1H 2020
Keppel Infrastructure Data Centres
Logistics & Others
9
InfrastructureS$m
0
59
252
• 1...

10
Infrastructure
Keppel Infrastructure
• Secured WTE and district cooling contracts across Singapore,
India and Thailand
...

37 47
31
40
(52)
(11)
29
39
(125)
(19)
(18)
1H 2019 1H 2020
Keppel Capital M1 KrisEnergy
SSTEC Others
11
Investments
ii
25...

M1
• Resilient underlying performance - 1H 2020 EBITDA of S$141m
was stable yoy
• Added ~34,000 postpaid customers YTD whi...

We will continue to work as a
Group to deliver value to our
stakeholders, with a bold long-
term vision, which transcends
...

14
Group Financial
Highlights by CFO

15
Net Profit
Key highlights
2Q 2020 Financial Performance
↑ from net profit of S$153m
to net loss of S$697m
S$m 2Q 2020 2...

16
2Q 2020 Revenue by Segment
S$m 2Q 2020 % 2Q 2019 % % Change
Offshore & Marine 270 20 481 27 (44)
Property 209 16 271 15...

17
2Q 2020 Pre-tax Profit by Segment
S$m 2Q 2020 % 2Q 2019 % % Change
Offshore & Marine (967) 160 4 2 n.m.f.
Property 233 ...

18
2Q 2020 Net Profit by Segment
S$m 2Q 2020 % 2Q 2019 % % Change
Offshore & Marine (962) 138 4 3 n.m.f.
Property 162 (23)...

19
2Q 2020 Impairments
S$m 1Q 2020 2Q 2020 1Q 2019 2Q 2019
Doubtful debt on receivables in O&M Division - (179) - -
Contra...

20
Net Profit
Key highlights
2Q 2020 Financial Performance
(excluding impairments)
↑ from S$153m to S$222m
S$m 2Q 2020 2Q ...

21
Key highlights
1H 2020 Financial Performance
S$m 1H 2020 1H 2019 % Change
Revenue 3,182 3,315 (4)
EBITDA 52 651 (92)
Op...

22
1H 2020 Revenue by Segment
S$m 1H 2020 % 1H 2019 % % Change
Offshore & Marine 839 26 813 24 3
Property 511 16 628 19 (1...

23
1H 2020 Pre-tax Profit by Segment
S$m 1H 2020 % 1H 2019 % % Change
Offshore & Marine (963) 270 5 1 n.m.f.
Property 326 ...

24
1H 2020 Net Profit by Segment
S$m 1H 2020 % 1H 2019 % % Change
Offshore & Marine (959) 179 10 3 n.m.f.
Property 197 (37...

25
1H 2020 Impairments
S$m 1H 2020 1H 2019
Doubtful debt on receivables in O&M Division (179) -
Contract assets in O&M Div...

26
Key highlights
1H 2020 Financial Performance
(excluding impairments)
S$m 1H 2020 1H 2019 % Change
Revenue 3,182 3,315 (...

27
Net Profit & EPS
360
211 252 337
203 160
397
205 171
249
153
(697)
363
225 265
227
159
405
143 127
135
192
Net profit (...

14.2%
6.9% 6.9%
8.4%
6.3%
(10.3%)
2015 2016 2017 2018 2019 2020
12
8 8
15
8 3
34
20 22
30
20
2015 2016 2017 2018 2019 2020...

29
Free Cash Flow
S$m 1H 2020 1H 2019
Operating profit (149) 482
Depreciation & other non-cash items (97) (48)
Provisions ...

30
Questions &
Answers

31
Additional
Information

• 38% of total revenue came from overseas customers
Revenue by Geography
1H 2020
Total
(S$m)
Overseas
Customers
(%)
Singap...

33
EBITDA by Segment
S$m 1H 2020 % 1H 2019 % % Change
Offshore & Marine (622) (1,196) 70 11 n.m.f.
Property 308 592 291 45...

34
Multiple Income Streams
S$m 1H 2020 1H 2019 % Change
Recurring Income 119 145 (18)
EPC/Development for Sale 55 121 (55)...

35
Capital/Gearing/ROE
S$m 30 Jun 2020 31 Dec 2019
Shareholders’ Funds 10,381 11,211
Total Equity 10,813 11,646
Net Debt 1...

36
Net Profit by Business Unit
S$m 1H 2020 1H 2019 % Change
Keppel Offshore & Marine (959) 10 n.m.f.
Keppel Land i 217 258...

37
Offshore & Marine

38
Financial Highlights – Offshore & Marine
S$m 2Q 2020 2Q 2019 % Change 1H 2020 1H 2019 % Change
Revenue 270 481 (44) 839...

39
Operational Review
• Secured S$89m of new orders in 1H 2020:
• Fabrication of leg component for an offshore wind turbin...

40
Orderbook
S$m
Contract Value
Gross Net Client
For delivery in 2020
4 JUs/3 FPSO Modules Fabrication & Integration*/1 Se...

41
Property

42
Financial Highlights - Property
S$m 2Q 2020 2Q 2019 % Change 1H 2020 1H 2019 % Change
Revenue 209 271 (23) 511 628 (19)...

43
Sales Achieved - Overseas
Key Projects Location Units Sold in 1H 2020
Sales Value in
1H 2020
Latest Avg. Selling Price
...

Stake Tenure
Total GFA
(sf)
Total
Units
Units
Launched
Units
Sold
Remaining
Units
Remaining Area
For Sales (sf)
Launched P...

Location Stake
Total GFA
(sm)
Total
Units
Units
Launched
Units
Sold
Remaining Units
For Sale
Remaining Area
For Sale (sm)
...

Location Stake
Total GFA
(sm)
Total
Units
Units
Launched
Units
Sold
Remaining
Units For Sale
Remaining Area
For Sale (sm)
...

Project Location
Units Ready to Launch
2H 2020 2021 2022
8 Park Avenue
Shanghai
7 - -
Seasons Residences 125 - -
Sheshan R...

Project Location
Units Ready to Launch
2H 2020 2021 2022
Indonesia
West Vista at Puri
Jakarta
60 294 300
The Riviera at Pu...

Projects/Phases launched Location Total Units
Units Launched as at
end-Jun 2020
Units Sold as at
end-Jun 2020
Units Remain...

Projects/Phases to be launched Location
No. of Units Expected to be Completed
2020 2021 2022
China
Sheshan Riviera Shangha...

Projects under Development Location Stake GFA (sm) Development Cost^ Completion
Singapore
Keppel Towers Singapore 100% 59,...

Key Completed Projects Location Stake GFA (sm) Net Lettable Area (sm) Completion
Singapore Keppel Bay Tower
Singapore
100%...

53
Infrastructure

54
Financial Highlights - Infrastructure
S$m 2Q 2020 2Q 2019 % Change 1H 2020 1H 2019 % Change
Revenue 559 726 (23) 1,256 ...

55
Investments

56
Financial Highlights - Investments
n.m.f. denotes No Meaningful Figure
S$m 2Q 2020 2Q 2019 % Change 1H 2020 1H 2019 % C...

57
Asset Management Holdings
Effective
interest
Attributable
NAV (S$m)
Alpha Asia Macro Fund
Trends Fund III
18.5%* 122.0*...

Plot Date
Sales Value
(RMB’m)
Land Area
(Hectare)
Plot Ratio
GFA
(sm)
Selling Price
Based on
Land Area
(RMB’m/hectare)
Bas...

1,452
1,569
578 407
216 225
End-Jun 2019 End-Jun 2020
Fibre broadband
Prepaid
Postpaid
273 258
82
87
18
16
188
157
1H 2019...

60
Vision 2030:
New Reporting
Segments

Vision 2030 Segments & Income Streams
Energy & Environment Urban Development Connectivity Asset Management
Recurring
Incom...

62
1H 2020 Performance by Segments
S$m Energy & Environment Urban Development Connectivity Asset Management
Revenue 2,024 ...

1H 2020 Income Streams by Segments
S$m Energy & Environment Urban Development Connectivity Asset Management
Recurring Inco...

This presentation may contain forward-looking statements which are subject to
risks and uncertainties that could cause act...

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