Keppel continues to accelerate its Vision 2030 strategy through ongoing transformation, focusing on growth areas, and driving value creation. In the first half of 2022, Keppel delivered a net profit of S$498 million and strong progress on asset monetisation. Keppel is growing its recurring income, scaling up in renewables and clean energy, and advancing its asset management platform. The proposed combination of Keppel O&M and Sembcorp Marine is on track to complete by end of 2022, which will unlock substantial value for Keppel.
Keppel Corporation delivered a strong financial performance in the first half of 2022, with net profit increasing 66% year-over-year. The company continues to execute its Vision 2030 strategy by divesting businesses, growing its recurring income streams, and monetizing assets ahead of target. Keppel is also scaling up in renewable energy, clean technology, and sustainability solutions. The proposed combination of Keppel O&M and Sembcorp Marine remains on track for completion by the end of 2022.
Keppel Corporation's Presentation Slides for US Non-Deal Roadshow KeppelCorporation
Keppel made progress executing its Vision 2030 plan despite challenges from the volatile market and COVID-19. It achieved over $1 billion in net profit for the first time since 2015 through business transformation, asset monetization, and earnings growth across all segments. Keppel is also simplifying its business structure through proposed combinations and divestments that could realize about $9.4 billion in value while expanding into renewables, connectivity, and sustainability solutions.
Keppel delivered strong financial results in 1H22, with net profit increasing 66% YoY. It is accelerating the execution of Vision 2030 to enhance resilience and deliver value. Keppel is growing its recurring income and asset management platform, and has made strong progress in asset monetisation. It is also scaling up in renewables, clean energy, and decarbonization solutions to be well-positioned for opportunities in sustainable urbanization and the global push for net zero. The proposed O&M transactions remain on track for completion by end-2022, which would realize over S$9 billion in value for Keppel from its offshore and marine business.
Keppel Corporation 3Q & 9M 2022 Business Update Presentation SlidesKeppelCorporation
Keppel Corporation provided a business update for the third quarter and first nine months of 2022. Key points include:
- Continued expansion in renewables, clean energy, and sustainable urban renewal in line with Vision 2030 goals.
- Signed revised agreements on proposed combination of Keppel O&M and Sembcorp Marine to simplify implementation.
- Revenue for the first nine months of 2022 grew 24% year-over-year driven by stronger performance in Energy & Environment and Asset Management segments.
- Net orderbook for Keppel O&M reached its highest level since 2007 despite macroeconomic headwinds.
Keppel Corporation provided a business update for 1Q 2023. Key highlights include:
- Accelerating their Vision 2030 strategy to be a global asset manager focused on sustainability solutions.
- Reaching their asset monetization target of S$3-5 billion ahead of schedule from deals including the Keppel O&M-Sembcorp Marine merger.
- Strong financial performance in 1Q 2023 from disposal gains and business segment growth. Looking to continue growth while strengthening resilience.
- Expanding opportunities in asset management, renewable energy, urban development, data centers, and 5G solutions to drive future growth.
Keppel Corporation - Annual General Meeting CEO's Presentation SlidesKeppelCorporation
Mr Loh Chin Hua, CEO of Keppel Corporation, presented at the Annual General Meeting on 22 April 2022 to provide an update on progress executing Vision 2030. Key points included making strong progress in business transformation and asset monetization to fuel growth, delivering over $1 billion in net profit for FY2021, and seizing opportunities in renewables, connectivity, and sustainability to advance the vision. Mr. Loh expressed confidence that most Vision 2030 targets will be achieved by 2025, defining the future Keppel by focus on sustainability, being asset-light, and harnessing technology.
- Keppel Corporation reported a strong financial performance in FY2021 with net profit crossing $1 billion for the first time since 2015, compared to a net loss in FY2020, driven by improved performance across all business segments.
- Asset monetization since October 2020 totaled $2.9 billion, exceeding the target of $5 billion by 2023.
- Recurring income grew 33% year-on-year to $292 million in FY2021, underpinned by higher contributions from asset management and REITs & Trust."
The document provides an overview of 2H and FY 2020 financial results for the group. Key highlights include:
- Net profit decreased from S$351m to S$31m in 2H 2020 and turned to a net loss of S$506m for FY 2020 due to impairments.
- Revenue declined 20% to S$3.39b in 2H 2020 and 13% to S$6.57b for FY 2020 mainly due to COVID-19 disruptions.
- The Energy & Environment segment recorded a net loss of S$223m in 2H 2020 and S$1.18b for FY 2020 mainly from Keppel O&M losses and impairments.
Keppel Corporation delivered a strong financial performance in the first half of 2022, with net profit increasing 66% year-over-year. The company continues to execute its Vision 2030 strategy by divesting businesses, growing its recurring income streams, and monetizing assets ahead of target. Keppel is also scaling up in renewable energy, clean technology, and sustainability solutions. The proposed combination of Keppel O&M and Sembcorp Marine remains on track for completion by the end of 2022.
Keppel Corporation's Presentation Slides for US Non-Deal Roadshow KeppelCorporation
Keppel made progress executing its Vision 2030 plan despite challenges from the volatile market and COVID-19. It achieved over $1 billion in net profit for the first time since 2015 through business transformation, asset monetization, and earnings growth across all segments. Keppel is also simplifying its business structure through proposed combinations and divestments that could realize about $9.4 billion in value while expanding into renewables, connectivity, and sustainability solutions.
Keppel delivered strong financial results in 1H22, with net profit increasing 66% YoY. It is accelerating the execution of Vision 2030 to enhance resilience and deliver value. Keppel is growing its recurring income and asset management platform, and has made strong progress in asset monetisation. It is also scaling up in renewables, clean energy, and decarbonization solutions to be well-positioned for opportunities in sustainable urbanization and the global push for net zero. The proposed O&M transactions remain on track for completion by end-2022, which would realize over S$9 billion in value for Keppel from its offshore and marine business.
Keppel Corporation 3Q & 9M 2022 Business Update Presentation SlidesKeppelCorporation
Keppel Corporation provided a business update for the third quarter and first nine months of 2022. Key points include:
- Continued expansion in renewables, clean energy, and sustainable urban renewal in line with Vision 2030 goals.
- Signed revised agreements on proposed combination of Keppel O&M and Sembcorp Marine to simplify implementation.
- Revenue for the first nine months of 2022 grew 24% year-over-year driven by stronger performance in Energy & Environment and Asset Management segments.
- Net orderbook for Keppel O&M reached its highest level since 2007 despite macroeconomic headwinds.
Keppel Corporation provided a business update for 1Q 2023. Key highlights include:
- Accelerating their Vision 2030 strategy to be a global asset manager focused on sustainability solutions.
- Reaching their asset monetization target of S$3-5 billion ahead of schedule from deals including the Keppel O&M-Sembcorp Marine merger.
- Strong financial performance in 1Q 2023 from disposal gains and business segment growth. Looking to continue growth while strengthening resilience.
- Expanding opportunities in asset management, renewable energy, urban development, data centers, and 5G solutions to drive future growth.
Keppel Corporation - Annual General Meeting CEO's Presentation SlidesKeppelCorporation
Mr Loh Chin Hua, CEO of Keppel Corporation, presented at the Annual General Meeting on 22 April 2022 to provide an update on progress executing Vision 2030. Key points included making strong progress in business transformation and asset monetization to fuel growth, delivering over $1 billion in net profit for FY2021, and seizing opportunities in renewables, connectivity, and sustainability to advance the vision. Mr. Loh expressed confidence that most Vision 2030 targets will be achieved by 2025, defining the future Keppel by focus on sustainability, being asset-light, and harnessing technology.
- Keppel Corporation reported a strong financial performance in FY2021 with net profit crossing $1 billion for the first time since 2015, compared to a net loss in FY2020, driven by improved performance across all business segments.
- Asset monetization since October 2020 totaled $2.9 billion, exceeding the target of $5 billion by 2023.
- Recurring income grew 33% year-on-year to $292 million in FY2021, underpinned by higher contributions from asset management and REITs & Trust."
The document provides an overview of 2H and FY 2020 financial results for the group. Key highlights include:
- Net profit decreased from S$351m to S$31m in 2H 2020 and turned to a net loss of S$506m for FY 2020 due to impairments.
- Revenue declined 20% to S$3.39b in 2H 2020 and 13% to S$6.57b for FY 2020 mainly due to COVID-19 disruptions.
- The Energy & Environment segment recorded a net loss of S$223m in 2H 2020 and S$1.18b for FY 2020 mainly from Keppel O&M losses and impairments.
Keppel Corporation 1Q 2021 business update presentation slidesKeppelCorporation
Keppel Corporation provided a business update for 1Q 2021, highlighting progress on its Vision 2030 plan. Key points include:
- Executing initiatives to create value through asset monetization of over S$1.2 billion, business transformations, and new investments totaling S$467 million in the Bifrost Cable System.
- Most business units were profitable in 1Q 2021 compared to a year ago, with revenue remaining stable at S$1.9 billion and net gearing lowered to 0.88x.
- Urban development saw home sales triple year-over-year, driven by strong performance in China, Vietnam, and Singapore. Keppel Land also completed divestments and
- The document provides an address and financial results from the CEO of Keppel for the 2022 fiscal year (FY22).
- Key highlights include order wins of S$8.1 billion in FY22 and a net orderbook of S$11 billion at the end of 2022.
- Keppel is in the final stages of executing proposed operations and maintenance transactions and asset monetization efforts that have unlocked over S$4.6 billion in capital since 2020.
Keppel delivered its highest net profit on record in 1H23. Recurring income grew 62% YoY due to the strategy shift away from lumpy development profits. Asset management fees also increased with FUM of $65.6B. Keppel aims to grow FUM to $100B by 2026 and $200B by 2030 through organic and inorganic opportunities. Operations & maintenance contracts provide long-term recurring income from premier infrastructure assets. Keppel is advancing as a global alternative asset manager focused on infrastructure, real estate and connectivity through its fund management, investment and operating platforms.
Keppel Corporation 3Q & 9M 2021 Business Update SlidesKeppelCorporation
- Keppel Corporation reported a sharp reversal in performance in 9M 2021 from a loss in 9M 2020, with significant improvement in net profit.
- Asset monetisation is on track to exceed its S$5 billion target by 2023, with S$2.4 billion announced to date, to fuel growth plans.
- All business segments performed better in 9M 2021 compared to 9M 2020, with the offshore and marine segment returning to profitability.
- Keppel is making progress executing its Vision 2030 strategy and proposed transactions, while seizing opportunities in renewables and sustainability solutions.
Presentation slides for investor meetings in Hong KongKeppelCorporation
- Keppel Corporation reported a 382% increase in net profit for FY2018 to S$944 million, up from S$196 million in FY2017. Proposed final dividend of 15.0 cents/share will bring total FY2018 dividends to 30.0 cents/share.
- Key business segments included Property which contributed S$938 million in net profit, Infrastructure with S$169 million, while Offshore & Marine segment recorded a net loss of S$109 million.
- The company aims to strengthen its position in key growth areas such as gas solutions, data centers, urban development, and asset management to deliver sustainable value through various stages from design to divestment.
Keppel 3Q & 9M 2023 Business Update Presentation SlidesKeppelCorporation
- In the first nine months of 2023, Keppel's net profit grew significantly year-over-year across all three of its business segments: Infrastructure, Real Estate, and Connectivity.
- Revenue from continuing operations increased 5% year-over-year to $5.3 billion in the first nine months of 2023.
- Keppel is pursuing a sizable pipeline of new fund launches and asset/M&A deals across its business segments expected to exceed $13 billion in transaction value.
Keppel Corporation's 1Q 2022 Business Update SlidesKeppelCorporation
Keppel Corporation reported higher net profits in 1Q2022 year-over-year, driven by improved performance across most business segments. Revenue increased 9% to S$2.1 billion. Keppel is progressing its Vision 2030 plans by accelerating growth in renewables and sustainable solutions, and pursuing the proposed combination of Keppel O&M and Sembcorp Marine. Keppel also continues its asset monetization efforts, announcing over S$3.2 billion in divestments since October 2020 to help fund growth initiatives.
Presentation Slides for Investor Meetings, May - Jun 2021KeppelCorporation
This presentation provides an overview of Keppel Corporation's performance in the first quarter of 2021 and progress towards its Vision 2030 plan.
- Keppel recorded a small net profit increase year-over-year for Q1 2021, with most business units profitable except Keppel O&M which was EBITDA positive. Revenue remained stable at $1.9 billion.
- Keppel is executing its Vision 2030 plan across its four key business segments - Energy & Environment, Urban Development, Connectivity, and Asset Management - with a focus on sustainability and harnessing synergies across business units.
- Keppel aims to further its transformation, grow new growth engines, and monetize $
Keppel reported record net profit of $4.067 billion in FY23, driven by strong performance across segments and profit from discontinued operations. Excluding discontinued operations and a loss from distribution of KREIT units, net profit improved 19% to $996 million. All segments were profitable with Infrastructure and Connectivity seeing stronger performance. ROE improved to 37.9% in FY23 from 8.1% in FY22. A final dividend of 19 cents per share was proposed, bringing total dividends to 34 cents per share for FY23.
Keppel Corporation Presentation to Investors in Bangkok- September 2019KeppelCorporation
- The presentation provides an overview of Keppel Corporation's business divisions and strategies to investors. It focuses on solutions for sustainable urbanization across key areas like energy, urban living, environment, marine, connectivity, and asset management.
- Keppel aims to achieve a mid-to-long term return on equity of 15% through its business models of design-build, operate-maintain, stabilize-monetize across its divisions.
- In the first half of 2019, Keppel reported a net profit of S$356 million, down 39% from the previous year due to lower contributions from property sales.
The company reported a net profit of S$300 million for the first half of 2021, reversing a net loss of S$537 million in the same period last year. All key business units were profitable. Revenue grew 16% to S$3.677 billion compared to the first half of 2020. The company exceeded its asset monetization target of S$3-5 billion by July 2021 and aims to achieve the higher end of the target range by 2023 to fund growth initiatives. The interim cash dividend was increased to 12 cents per share from 3 cents last year.
Mr Loh Chin Hua, CEO of Keppel, presented at the company's Annual General Meeting on June 2, 2020. Keppel reported net profit of S$707 million and revenue of S$7.6 billion in 2019. The Property division contributed S$517 million in net profit from home sales of over 5,000 units. Infrastructure net profit was S$169 million. COVID-19 has impacted different business divisions to varying degrees, with Offshore & Marine facing delays and Infrastructure & Connectivity seeing some resilience. Keppel aims to chart its future through Vision 2030 by focusing on integrated solutions across key areas of Energy & Environment, Urban Development, Connectivity and Asset Management.
Keppel Corporation provided a business update for 3Q and 9M 2020. Key points include:
- Keppel identified $17.5 billion in assets that can potentially be monetized to fund growth initiatives, with plans to unlock $3-5 billion over the next 3 years.
- Revenue declined 10% for 9M 2020 due to impacts of COVID-19, though most business units were profitable in 3Q 2020.
- Keppel O&M remained loss-making for 3Q 2020 due to industry challenges from the pandemic, but secured new contracts totaling $900 million year-to-date, mainly in offshore wind and LNG projects.
- Home sales picked up in Singapore
Keppel Corporation Kuala Lumpur Non-Deal Roadshow Presentation SlidesKeppelCorporation
This presentation provides an overview of Kuala Lumpur's transformation efforts and business highlights for investors. Key points include:
1) Kuala Lumpur has restructured its business units under Keppel Capital to focus on areas like offshore & marine, property, infrastructure, and investments.
2) Its transformation is focused on executing growth initiatives to achieve a 15% mid-to-long term return on equity.
3) Business highlights show progress in areas like offshore projects, property development in China and Vietnam, and growing its infrastructure and data center portfolios.
Keppel Corporation US NDR Presentation Slides - May 2019KeppelCorporation
- The presentation is for investors in New York and Boston and transforms Keppel into an ecosystem of companies providing sustainable urbanization solutions across asset management, energy, environment, and urban living.
- Key pieces of Keppel's transformation are in place as it focuses on executing growth initiatives across offshore and marine, property, infrastructure, and investments.
- Business highlights show that Keppel is well positioned in offshore and marine with new orders, growing its data centre portfolio, developing quality real estate in China and Vietnam, and expanding infrastructure assets.
The document summarizes a proposed combination of Keppel O&M and Sembcorp Marine to create a premier global player in offshore renewables, new energy, and cleaner operations and maintenance solutions. Key points:
- The combination would strengthen Singapore's position as a maritime and offshore hub by bringing together the engineering capabilities and track records of Keppel O&M and Sembcorp Marine.
- It would be effected through a dual scheme structure involving share exchanges and cash payments to establish a combined entity with Keppel shareholders owning 44% and Sembcorp Marine shareholders owning 56%.
- The combined company would have greater synergies from combined operations, engineering expertise, and a strong track record to
Keppel Corporation Annual General Meeting CEO Presentation SlidesKeppelCorporation
Keppel Corporation's CEO, Mr Loh Chin Hua, presented at the company's Annual General Meeting on 23 April 2021. The presentation provided an overview of Keppel's financial performance in 2020, business segment updates, and key questions from shareholders. Specifically:
- Keppel reported a net loss of S$506 million for FY2020 mainly due to impairments, but revenue was S$6.6 billion.
- Keppel O&M recorded a large net loss of S$1.194 billion mainly from impairments and COVID-19 impacts.
- Keppel is transforming its business segments in line with Vision 2030 to become more integrated and sustainable.
-
Keppel's CEO Mr Loh Chin Hua presented at the Annual General Meeting on 23 April 2021. He summarized the company's financial performance in 2020, with a net loss of S$(506) million mainly due to impairments in the O&M business. However, recurring income was S$220 million and free cash inflow was S$497 million. The CEO also provided updates on Keppel's strategic business segments and their order books, projects, and financial results. He outlined Keppel's Vision 2030 to transform into an integrated business providing sustainable urbanization solutions.
Keppel Corporation 1Q 2021 business update presentation slidesKeppelCorporation
Keppel Corporation provided a business update for 1Q 2021, highlighting progress on its Vision 2030 plan. Key points include:
- Executing initiatives to create value through asset monetization of over S$1.2 billion, business transformations, and new investments totaling S$467 million in the Bifrost Cable System.
- Most business units were profitable in 1Q 2021 compared to a year ago, with revenue remaining stable at S$1.9 billion and net gearing lowered to 0.88x.
- Urban development saw home sales triple year-over-year, driven by strong performance in China, Vietnam, and Singapore. Keppel Land also completed divestments and
- The document provides an address and financial results from the CEO of Keppel for the 2022 fiscal year (FY22).
- Key highlights include order wins of S$8.1 billion in FY22 and a net orderbook of S$11 billion at the end of 2022.
- Keppel is in the final stages of executing proposed operations and maintenance transactions and asset monetization efforts that have unlocked over S$4.6 billion in capital since 2020.
Keppel delivered its highest net profit on record in 1H23. Recurring income grew 62% YoY due to the strategy shift away from lumpy development profits. Asset management fees also increased with FUM of $65.6B. Keppel aims to grow FUM to $100B by 2026 and $200B by 2030 through organic and inorganic opportunities. Operations & maintenance contracts provide long-term recurring income from premier infrastructure assets. Keppel is advancing as a global alternative asset manager focused on infrastructure, real estate and connectivity through its fund management, investment and operating platforms.
Keppel Corporation 3Q & 9M 2021 Business Update SlidesKeppelCorporation
- Keppel Corporation reported a sharp reversal in performance in 9M 2021 from a loss in 9M 2020, with significant improvement in net profit.
- Asset monetisation is on track to exceed its S$5 billion target by 2023, with S$2.4 billion announced to date, to fuel growth plans.
- All business segments performed better in 9M 2021 compared to 9M 2020, with the offshore and marine segment returning to profitability.
- Keppel is making progress executing its Vision 2030 strategy and proposed transactions, while seizing opportunities in renewables and sustainability solutions.
Presentation slides for investor meetings in Hong KongKeppelCorporation
- Keppel Corporation reported a 382% increase in net profit for FY2018 to S$944 million, up from S$196 million in FY2017. Proposed final dividend of 15.0 cents/share will bring total FY2018 dividends to 30.0 cents/share.
- Key business segments included Property which contributed S$938 million in net profit, Infrastructure with S$169 million, while Offshore & Marine segment recorded a net loss of S$109 million.
- The company aims to strengthen its position in key growth areas such as gas solutions, data centers, urban development, and asset management to deliver sustainable value through various stages from design to divestment.
Keppel 3Q & 9M 2023 Business Update Presentation SlidesKeppelCorporation
- In the first nine months of 2023, Keppel's net profit grew significantly year-over-year across all three of its business segments: Infrastructure, Real Estate, and Connectivity.
- Revenue from continuing operations increased 5% year-over-year to $5.3 billion in the first nine months of 2023.
- Keppel is pursuing a sizable pipeline of new fund launches and asset/M&A deals across its business segments expected to exceed $13 billion in transaction value.
Keppel Corporation's 1Q 2022 Business Update SlidesKeppelCorporation
Keppel Corporation reported higher net profits in 1Q2022 year-over-year, driven by improved performance across most business segments. Revenue increased 9% to S$2.1 billion. Keppel is progressing its Vision 2030 plans by accelerating growth in renewables and sustainable solutions, and pursuing the proposed combination of Keppel O&M and Sembcorp Marine. Keppel also continues its asset monetization efforts, announcing over S$3.2 billion in divestments since October 2020 to help fund growth initiatives.
Presentation Slides for Investor Meetings, May - Jun 2021KeppelCorporation
This presentation provides an overview of Keppel Corporation's performance in the first quarter of 2021 and progress towards its Vision 2030 plan.
- Keppel recorded a small net profit increase year-over-year for Q1 2021, with most business units profitable except Keppel O&M which was EBITDA positive. Revenue remained stable at $1.9 billion.
- Keppel is executing its Vision 2030 plan across its four key business segments - Energy & Environment, Urban Development, Connectivity, and Asset Management - with a focus on sustainability and harnessing synergies across business units.
- Keppel aims to further its transformation, grow new growth engines, and monetize $
Keppel reported record net profit of $4.067 billion in FY23, driven by strong performance across segments and profit from discontinued operations. Excluding discontinued operations and a loss from distribution of KREIT units, net profit improved 19% to $996 million. All segments were profitable with Infrastructure and Connectivity seeing stronger performance. ROE improved to 37.9% in FY23 from 8.1% in FY22. A final dividend of 19 cents per share was proposed, bringing total dividends to 34 cents per share for FY23.
Keppel Corporation Presentation to Investors in Bangkok- September 2019KeppelCorporation
- The presentation provides an overview of Keppel Corporation's business divisions and strategies to investors. It focuses on solutions for sustainable urbanization across key areas like energy, urban living, environment, marine, connectivity, and asset management.
- Keppel aims to achieve a mid-to-long term return on equity of 15% through its business models of design-build, operate-maintain, stabilize-monetize across its divisions.
- In the first half of 2019, Keppel reported a net profit of S$356 million, down 39% from the previous year due to lower contributions from property sales.
The company reported a net profit of S$300 million for the first half of 2021, reversing a net loss of S$537 million in the same period last year. All key business units were profitable. Revenue grew 16% to S$3.677 billion compared to the first half of 2020. The company exceeded its asset monetization target of S$3-5 billion by July 2021 and aims to achieve the higher end of the target range by 2023 to fund growth initiatives. The interim cash dividend was increased to 12 cents per share from 3 cents last year.
Mr Loh Chin Hua, CEO of Keppel, presented at the company's Annual General Meeting on June 2, 2020. Keppel reported net profit of S$707 million and revenue of S$7.6 billion in 2019. The Property division contributed S$517 million in net profit from home sales of over 5,000 units. Infrastructure net profit was S$169 million. COVID-19 has impacted different business divisions to varying degrees, with Offshore & Marine facing delays and Infrastructure & Connectivity seeing some resilience. Keppel aims to chart its future through Vision 2030 by focusing on integrated solutions across key areas of Energy & Environment, Urban Development, Connectivity and Asset Management.
Keppel Corporation provided a business update for 3Q and 9M 2020. Key points include:
- Keppel identified $17.5 billion in assets that can potentially be monetized to fund growth initiatives, with plans to unlock $3-5 billion over the next 3 years.
- Revenue declined 10% for 9M 2020 due to impacts of COVID-19, though most business units were profitable in 3Q 2020.
- Keppel O&M remained loss-making for 3Q 2020 due to industry challenges from the pandemic, but secured new contracts totaling $900 million year-to-date, mainly in offshore wind and LNG projects.
- Home sales picked up in Singapore
Keppel Corporation Kuala Lumpur Non-Deal Roadshow Presentation SlidesKeppelCorporation
This presentation provides an overview of Kuala Lumpur's transformation efforts and business highlights for investors. Key points include:
1) Kuala Lumpur has restructured its business units under Keppel Capital to focus on areas like offshore & marine, property, infrastructure, and investments.
2) Its transformation is focused on executing growth initiatives to achieve a 15% mid-to-long term return on equity.
3) Business highlights show progress in areas like offshore projects, property development in China and Vietnam, and growing its infrastructure and data center portfolios.
Keppel Corporation US NDR Presentation Slides - May 2019KeppelCorporation
- The presentation is for investors in New York and Boston and transforms Keppel into an ecosystem of companies providing sustainable urbanization solutions across asset management, energy, environment, and urban living.
- Key pieces of Keppel's transformation are in place as it focuses on executing growth initiatives across offshore and marine, property, infrastructure, and investments.
- Business highlights show that Keppel is well positioned in offshore and marine with new orders, growing its data centre portfolio, developing quality real estate in China and Vietnam, and expanding infrastructure assets.
The document summarizes a proposed combination of Keppel O&M and Sembcorp Marine to create a premier global player in offshore renewables, new energy, and cleaner operations and maintenance solutions. Key points:
- The combination would strengthen Singapore's position as a maritime and offshore hub by bringing together the engineering capabilities and track records of Keppel O&M and Sembcorp Marine.
- It would be effected through a dual scheme structure involving share exchanges and cash payments to establish a combined entity with Keppel shareholders owning 44% and Sembcorp Marine shareholders owning 56%.
- The combined company would have greater synergies from combined operations, engineering expertise, and a strong track record to
Keppel Corporation Annual General Meeting CEO Presentation SlidesKeppelCorporation
Keppel Corporation's CEO, Mr Loh Chin Hua, presented at the company's Annual General Meeting on 23 April 2021. The presentation provided an overview of Keppel's financial performance in 2020, business segment updates, and key questions from shareholders. Specifically:
- Keppel reported a net loss of S$506 million for FY2020 mainly due to impairments, but revenue was S$6.6 billion.
- Keppel O&M recorded a large net loss of S$1.194 billion mainly from impairments and COVID-19 impacts.
- Keppel is transforming its business segments in line with Vision 2030 to become more integrated and sustainable.
-
Keppel's CEO Mr Loh Chin Hua presented at the Annual General Meeting on 23 April 2021. He summarized the company's financial performance in 2020, with a net loss of S$(506) million mainly due to impairments in the O&M business. However, recurring income was S$220 million and free cash inflow was S$497 million. The CEO also provided updates on Keppel's strategic business segments and their order books, projects, and financial results. He outlined Keppel's Vision 2030 to transform into an integrated business providing sustainable urbanization solutions.
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2. 2
Vision 2030
Keppel continues to accelerate the execution of Vision 2030 and
enhance resilience amidst a challenging environment,
to deliver value for all stakeholders.
Driving transformation,
sharpening focus
• Completed divestment of
Keppel Logisticsi
• On track with proposed O&M
transactions. Anti-trust filings
lodged. Working towards
completion by end-2022
Accelerating growth
• Developing a leading asset
management platform
• Scaling up in renewables,
clean energy &
decarbonisation solutions
Driving value creation
• Strong progress in asset
monetisation, ahead of
target
i Includes Keppel Logistics’ businesses in Singapore, Malaysia, Vietnam and Australia, as well as UrbanFox
3. Delivering strong performance in 1H22
Net profit
Net gearing
Unchanged from 0.68x at end-2021
Compared to 12.0 cts/share for 1H21
57 million shares repurchased in 1H22,
since launch of S$500m Share
Buyback Programme in Jan 2022
Interim dividend
Annualised ROE
53% increase from 5.5% for 1H21
Share buyback programme
3
S$300m
S$498m
1H21 1H22
66%
Free cash outflow
Compared to inflow of S$499m
in 1H21
4. S$141mi
S$202m
1H21 1H22
4
Growing recurring income in line with Vision 2030
REITs & Trust
S$81m
Infrastructure services
S$91m
Asset
management
S$36m
Connectivity
S$20m
Others
S$11m
S$202mii
Recurring income in 1H22
Recurring income grew 43% yoy in 1H22
ii Includes losses from Rental & Charter and Hospitality in 1H22
i The recurring income in 1H21 has been restated as Keppel O&M's income is
classified as discontinued operations
43%
5. 5
Strong progress with asset monetisation
S$3.6bi
of asset monetisation announced
since Oct 2020. Includes S$355m
from Keppel Marina East Desalination
Plant which is being monetised
through Keppel Infrastructure Trust
S$2.9b
in cash received from Oct 2020 to
end-1H22
>S$5b
On track to exceed S$5b target by
end-2023
Capital unlocked will be used to fuel organic and inorganic growth plans and reward shareholders.
Keppel Marina East Desalination Plant, Singapore
i Does not include the realisable value from the proposed O&M transactions
6. 6
Growing Asia’s leading asset management platform
S$3.3b
of acquisitions and divestments
completed in 1H22
S$126m
Asset management feesi grew 14%
for 1H22
New flagship funds
Plans in progress to launch Keppel
Core Infrastructure Fund and Keppel
Sustainable Urban Renewal Fund
Harnessing Keppel’s strong engineering, project execution and operating capabilities, Asset Management
is an increasingly pivotal horizontal that pulls the Group together to hunt as a pack and realise synergies.
i Includes 100% fees from subsidiary managers, joint ventures and associated entities, as well as share of fees based on shareholding stake
in associate with which Keppel has strategic alliance
ii Includes senior living, education and logistics funds, as well as private credit fund
AUM:
S$42b
S$3.5b S$18.5b
Potential AUM:
>S$200b
Keppel’s
investment
Accelerating AUM and recurring income growth
Real estate
Data centres
Infrastructure
Alternative assetsii
if additional S$15b capital is
redeployed from asset monetisation
from Keppel’s balance
sheet as at end-2021
7. LTMS-PIP ii
FORAS onshore wind energy
assets
MET Group
Australian solar
farm
German
offshore
wind farm
600MW
500MW
465MW
100MW
Seizing opportunities as OneKeppel in growing energy &
environment business
7
Note: KIT refers to Keppel Infrastructure Trust; KAIF refers
to Keppel Asia Infrastructure Fund LP
i On a gross basis and includes projects under development
ii LTMS-PIP stands for Lao PDR-Thailand-Malaysia-
Singapore Power Integration Project
Renewable energy portfolioi
~2.2GW
✓ Expanding sources of
stable recurring income
✓ Strong deal flow pipeline
in well-established
markets, with best-in-
class operators and co-
investors
✓ Optimising value
creation for the Group’s
diverse stakeholders
Keppel Corporation and KIT acquiring
interests in European onshore and
offshore wind energy assets for S$679m
Keppel Infrastructure, KIT and KAIF
acquiring leading South Korean waste
management services platform for
S$666m
Keppel Infrastructure and KAIF developing
Singapore’s first hydrogen-ready power
plant with a total investment of S$750m
Joint investments
announced YTD
> S$2.4b
Keppel Infrastructure and KAIF acquiring
interests in 800 Super, a Singapore
environmental services company, for
S$304m
300MW
258MW
Cleantech
Renewable
Assets
8. 8
Scaling up in renewables, clean
energy & decarbonisation solutions
• Keppel Electric is the first entity in Singapore to be
issued electricity importer licence by Energy Market
Authority
• Commenced first renewable energy import under
two-year 100MW power purchase agreement with
Electricite Du Laos under LTMS-PIPi
• Collaborating with National Environment Agency on
feasibility study of carbon capture at Singapore’s
WTE plants
• Piloting Singapore’s first membrane-based nearshore
floating solar photovoltaic system at Jurong Island
EV Charging
Carbon Capture
Hydrogen
Energy-as-a-
Service
i LTMS-PIP stands for Lao PDR-Thailand-Malaysia-Singapore Power Integration Project
9. 9
Advancing transformation of Keppel Land into an asset-light
urban space solutions provider
• Pivoting towards real estate-as-a-service
with focus on growing recurring income
• Exploring pipeline of sustainable urban
renewal and senior living projects across
key markets
• Despite headwinds in China, remain
confident of long-term prospects
underpinned by continued economic
growth and urbanisation trends
Accelerating landbank monetisation
Working to substantially monetise China and Vietnam
landbank in the next 1-2 years, including through
injection into Keppel-managed funds
10. 10
Scaling up sustainable data centre solutions and subsea
cable systems
• 3 projects announced by Keppel DC REIT and Keppel Data Centre Fund II
YTD, bringing Group’s portfolio to 32 data centres upon completion of
acquisitions
• Embarked on Group's 6th project in China since entering the market in 2020
• Continue to work with government and partners in Singapore to introduce
green power and energy efficient infrastructures to new and existing data
centres
• Strong demand for Bifrost Cable System, with 3 of Keppel’s fibre pairs
committed
• Marine surveys completed; applying for permits for cable lay operations
• Expect to commence cable lay operations in early 2023 and Bifrost Cable
System to be ready for service in 2024
Data Centres
Bifrost Cable System
11. 11
M1 continues to expand the enterprise business and 5G
offerings
• Postpaid customer base grew
to ~1.78 million customers,
2nd largest in Singapore
• Improving roaming and prepaid
business outlook with
progressive reopening of
economies
• Collaborating with other Keppel
business units and industry
partners to create smarter,
future-ready solutions and
more 5G use cases
Progressing well on 5G SA network rollout - achieved more than 80%
outdoor coverage and working towards nationwide outdoor coverage
by early 2023
5G connectivity solutions
12. 12
Improving O&M business
Outlook for O&M sector continues to improve with the increase in oil price.
YTD contract wins of
S$4.2b
Includes P-80 FPSO project
for Petrobras; in advanced
discussion on option for
another FPSO worth US$2.8b
Strong project execution
and delivery
P-78 Petrobras project on
track and within budget, and
has been contributing to
earnings
S$5.1b
S$8.2b
End-2021 19-Aug-22
61%
Net orderbooki
S$255m of
bareboat charter
contracts
• Secured bareboat charter
contracts for 4 jackups;
engaging potential buyers
for rig assets
• Confident of substantially
monetising Keppel O&M’s
legacy rigs in next 3-5 years
Orderbook backed by high-quality
projects that are either cashflow
neutral or positive
i Excludes semis for Sete Brasil
13. 13
Proposed combination of Keppel O&M and Sembcorp Marine on track
Current structure Post-transaction structure
KCL
shareholders
100%
100%
KCL
shareholders
100% 46%1
➢ KOM (excluding KOM’s legacy rigs & associated receivables and certain Out-of-Scope assets e.g. Floatel and Dyna-Mac) will combine with SCM
➢ KCL will receive 56% stake in Combined Entity and S$0.5b in cash. KCL will distribute in-specie 46% stake in Combined Entity to KCL’s shareholders
(“DIS”)
➢ KOM’s legacy rigs and associated receivables will be sold to a new and separate entity (“Asset Co”), which will be 90%-owned by external investors
Asset Co
(Includes KOM’s legacy
rigs and associated
receivables)
10% + securities
i Portion of shares allotted to KCL, representing 10% of issued shares of the Combined Entity, will be put into a segregated account for certain
identified contingent liabilities for a period of up to 48 months from the completion of the Proposed Combination
Combined Entity
100% 100%
Less: Out-of-Scope
Assets
Segregated Account
Out-of-Scope Assets
(Includes stakes in
Floatel & Dyna-Mac)
10%i
Anti-trust filings lodged; working towards completion by end-2022
14. Value (S$’m) Value per Sharei
AssetCoii 4,050 S$2.29
Shares in Combined Entity based on Sembcorp Marine shares’ VWAP
as at signing dateiii 4,874 S$2.75
S$500m Cash 500 S$0.28
Realisable Value from Proposed O&M Transactions 9,424 S$5.32
Out-of-Scope Assetsiv c.300 S$0.17
Total Value of Keppel’s O&M Business 9,724 S$5.49
Realisable value from proposed O&M transactions
14
i Per share value is calculated based on 1,770,895,935 Keppel Corporation shares in issue (excluding treasury shares) as at 30 June 2022.
ii This is computed on a pro forma basis, based on carrying values of the legacy rigs and associated receivables as at 31 December 2021. The actual value of the consideration will
be based on the carrying values of these assets at the date of completion of the sale.
iii As per the Media Release on the proposed combination of Keppel O&M and Sembcorp Marine on 27 April 2022. An assumed issue price of the Combined Entity shares of
S$0.122 per share is used for this illustration of value which is based on the volume-weighted average price (“VWAP”) of the Sembcorp Marine shares for the last 10 trading days
up to and including 26 April 2022 (signing date), and assuming a total of 39,949,762,557 new Combined Entity Shares (representing 56% of the issued and paid-up share capital of
the Combined Entity) to be issued to Keppel on completion of the proposed transaction. The actual issue price of the Combined Entity Shares would be determined subsequently by
the Combined Entity and may differ from the aforementioned issue price of S$0.122 per share. The actual value of the consideration will depend on the actual traded price of the
Combined Entity after the completion of the deal.
iv This is computed on a pro forma basis, based on carrying values of the assets as at 31 December 2021.
The information presented above (“Relevant Information”) is for information only and should not be used or considered as (1) an invitation, solicitation or offer to buy, sell or
subscribe for securities or other financial instruments of the Group or (2) advice with respect to dealings in such securities or other financial instruments. The Company does not
make any representation or warranty that the Relevant Information is free from error. The Relevant Information has been prepared using data currently available to the Company,
which may change and the Company does not accept any responsibility to update the Relevant Information. The Company does not accept any liability (however arising) from any
use or reliance of the Relevant Information. You should exercise judgment in your own financial decisions. If in doubt, please consult with your professional advisers.
15. 15
Keppel will be a focused provider of sustainable
urbanisation solutions, with an asset management arm,
complemented by strong engineering, operations and
maintenance capabilities in energy & environment, urban
development and connectivity.
Sustainability Technology
Asset light
16. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF
THE RELEVANT LAWS OF THAT JURISDICTION. THIS PRESENTATION SHALL NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL, SUBSCRIBE
FOR OR BUY SECURITIES IN ANY JURISDICTION, INCLUDING IN THE UNITED STATES.
This presentation is for information purposes only and does not have regard to your specific investment objectives, financial situation or your particular needs. Any information in this
presentation is not to be construed as investment or financial advice and does not constitute an invitation, offer or solicitation of any offer to acquire, purchase or subscribe for securities
or other financial instruments in Keppel Corporation Limited (“Keppel”). The past performance of Keppel is not indicative of the future performance of Keppel. You should exercise
judgment in your own financial decisions. If in doubt, please consult with your professional advisers.
This presentation contains information on the proposed combination of Keppel Offshore & Marine Ltd (“Keppel O&M”) and Sembcorp Marine (the “Proposed Combination”) and should be
read in conjunction with the joint announcement released by Keppel and Sembcorp Marine Ltd (“Sembcorp Marine”) on 27 April 2022 in relation to the proposed combination of Keppel
O&M and Sembcorp Marine (the “Joint Announcement”) and the announcement released by Keppel on 27 April 2022 in relation to the Proposed Combination (the “Keppel
Announcement”). Copies of the Joint Announcement and the Keppel Announcement are available on the website of the SGX-ST at http://www.sgx.com.
Certain statements in this presentation may constitute “forward-looking statements”, including forward-looking financial information. Such forward-looking statements and financial
information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Keppel or industry results, to be
materially different from any future results, performance or achievements, expressed or implied by such forward-looking statements and financial information. Representative examples
of these factors include (without limitation) general industry and economic conditions, capital availability, competition from similar developments, changes in operating expenses
(including employee wages, benefits and training costs), property expenses and governmental and public policy changes. Such forward-looking statements and financial information are
based on numerous assumptions regarding Keppel’s present and future business strategies and the environment in which Keppel will operate in the future. Actual future performance,
outcomes and results may differ materially from these forward-looking statements and financial information. As these statements and financial information reflect management’s
current views concerning future events, these statements and financial information necessarily involve risks, uncertainties and assumptions. These forward-looking statements speak
only as at the date of this presentation. No assurance can be given that future events will occur, or that assumptions are correct. You are cautioned not to place undue reliance on these
forward-looking statements.
No representation or warranty express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions
contained in this presentation. Neither Keppel nor any of its affiliates or representatives or Keppel’s advisers (including J.P. Morgan) shall have any liability whatsoever for any loss
howsoever arising, whether directly or indirectly, from any use of, reliance on or distribution of this presentation or its contents or otherwise arising in connection with this presentation.
None of Keppel nor its affiliates or representatives or Keppel’s advisers (including J.P. Morgan) undertakes any obligation to update publicly or revise any forward-looking statements.
The information and opinions contained in this presentation are subject to change without notice.
16
Disclaimer