- Keppel Corp (SGX:BN4)'s 1Q22 net profit was higher y-o-y, improvement seen across segments except Urban Development. 1Q22 revenue grew 9.5% y-o-y to S$2,068m during the quarter. Net gearing was stable at around 0.7x as of end Mar.
- - Read this at SGinvestors.io -
- Yard combination. Keppel Corp and Sembcorp Marine are expected to reach a definitive agreement on yard combination by end Apr. We await details on valuation of the shipyards and integration plans, before reviewing our valuation on Keppel.
- - Read this at SGinvestors.io -
- Keppel Land’s net profit was lower y-o-y due to a drop in contribution from China property trading and absence of enbloc sales. Home sales dropped 60% y-o-y to 540 units in 3Q22, as new launches are slated for later this year. For the China market, underlying demand, especially at Keppel Corp’s core markets, remains fairly strong.
- Keppel Capital – Asset management fees surged 69% y-o-y to S$71m in 1Q22. It has successfully completed over S$2.5bn in acquisitions during the quarter.
- M1’s earnings were higher y-o-y in 1Q22; improving roaming and prepaid business outlook with reopening of borders.
Keppel Corp - Valuation:
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Pei Hwa HO DBS Group Research | https://www.dbs.com/insightsdirect/ 2022-04-22
Read also DBS's most recent report:
2024-02-02 Keppel - Flourish & Prosper.
Previous report by DBS:
2023-07-28 Keppel Corporation - 1H23 Results A Mixed Bag; Cheers To KREIT Distribution.
Price targets by other brokers at Keppel Corp Target Prices.
Listing of research reports at Keppel Corp Analyst Reports.
Relevant links:
Keppel Corp Share Price History,
Keppel Corp Announcements,
Keppel Corp Dividends & Corporate Actions,
Keppel Corp News Articles
