Keppel Infrastructure Trust - DBS Research 2022-07-29: Stronger Portfolio Growth Pipeline

• Keppel Infrastructure Trust (KIT, SGX:A7RU) recorded distributable income of S$87.6m in 1H22, down 13% y-o-y and 4% q-o-q, even as core EBITDA (excluding one-offs) grew 10% to S$172.6m.
• The lower 1H22 distributable income was largely due to City Energy (previously City Gas) numbers being impacted as a result of the timing differences in the fuel price pass through gas tariff mechanism. This will be recovered through higher gas tariffs in future.
• - Read this at SGinvestors.io -
• Finance costs were also higher owing to the issue of S$250m MTNs to finance the acquisition of the Aramco Gas Pipelines stake, which will only start contributing to cash flows from 3Q22.
• - Read this at SGinvestors.io -
• Management expects to grow Keppel Infrastructure Trust's DPU by at least 1.5-2% every year, beating long term inflation trends in Singapore.

Renewable investments gather steam

• Read more at SGinvestors.io.

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2025-04-23 Keppel Infrastructure Trust - Resetting Expectations; Downgrade To HOLD..

Previous report by DBS:
2023-11-06 Keppel Infrastructure Trust - Special Dividend Bonanza For Unitholders.

Price targets by other brokers at Keppel Infra Trust Target Prices.

Listing of research reports at Keppel Infra Trust Analyst Reports.

Relevant links:
Keppel Infra Trust Share Price History,
Keppel Infra Trust Announcements,
Keppel Infra Trust Dividend Payout Dates & Corporate Actions,
Keppel Infra Trust News