- Infrastructure, the largest earnings contributor, continues to support with recurring income; gaining momentum as a global asset manager too.
- Exposure to Chinese real estate derisked, while Subsea Cable Systems offer attractive opportunities.
5% growth in profit from continuing operations in FY24.
- - Read this at SGinvestors.io -
- Net profit from continuing operations was S$1.06b in FY24 (of which 72% was recurring), about 5% higher than in FY23, excluding the effects of the legacy offshore and marine assets. Including these effects and the discontinued operations, net profit was S$940m for FY24.
Infrastructure division supported by recurring earnings.
- - Read this at SGinvestors.io -
- Keppel in the past used to be focused on the power trading business with a high exposure to the spot market, which resulted in volatile earnings. However, presently about 70% of its contracted power capacity is locked in for three years or more. The group has also shifted from being largely an Engineering, Procurement and Construction (EPC) player to providing technology solutions and operating and maintenance services.
Exposure to Chinese real estate derisked, while Subsea Cable Systems offer attractive opportunities.
- Read more at SGinvestors.io.
Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @ https://www.iocbc.com/.
OCBC Research Team OCBC Investment Research | https://www.iocbc.com/ 2025-02-06
Previous report by OCBC:
2024-08-02 Keppel - Ongoing Evolution.
Price targets by 4 other brokers at Keppel Target Prices.
Listing of research reports at Keppel Analyst Reports.
Relevant links:
Keppel Share Price History,
Keppel Announcements,
Keppel Dividend Payout Dates & Corporate Actions,
Keppel News
