- In our view, Keppel’s outlook remains bright with capital recycling news likely to focus on real estate, legacy rigs and Bifrost (and possibly other fibre cable projects) in the near to medium term.
- - Read this at SGinvestors.io -
A decent set of 2024 numbers.
- Keppel (SGX:BN4) reported a 5% y-o-y increase in profit from continuing operations to S$1,064m, slightly ahead of our numbers despite a number of lower divestment and fair value gains on a y-o-y basis.
- Identical to 2023, Keppel declared a final dividend of S$0.19; together with its interim dividend of S$0.15, the full-year Keppel's dividends of S$0.34 (payout ratio of 66%) implies a yield of 5.1% based on Keppel's share price yesterday.
- - Read this at SGinvestors.io -
- a meaningful 45% increase in net profit for the connectivity segment;
- continued strong operating income from the infrastructure division if we strip out lower distribution income from Keppel InfraStrucure Trust (SGX:A7RU) and an EU associate; and
- continued improvement in ROE to 10.1% (2023: 9.5%).
A lot of interest in Bifrost.
- Read more at SGinvestors.io.
Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.
Adrian LOH UOB Kay Hian Research | https://research.uobkayhian.com/ 2025-02-06
Previous report by UOB:
2024-11-20 Keppel - A Strategic Move To Row Its Own Boats.
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
