Keppel Infrastructure Trust - OCBC Investment Research 2025-04-22: Distributable Income Boosted By One-off Divestment Gain

• Reported 1Q25 distributable income grew 27.7% y-o-y to S$65.0m. However, Keppel Infrastructure Trust's 1Q25 adjusted distributable income slipped 31.9% y-o-y to S$45.5m, after adjusting for one-offs (i.e. 1Q25: gain on divestment of Philippine Coastal; 1Q24: growth CAPEX and upfront financing fee at Philippine Coastal, as well as performance fees),
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FFO from the Energy Transition segment fell 15.8% y-o-y to S$61.6m.

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• Meanwhile, performance from City Energy was relatively stable, with fuel cost under-recovery partially offset by revenue growth.
• Aramco Gas Pipelines Company (AGPC) saw lower y-o-y throughput during the quarter, though this remained above the minimum volume commitment.

FFO from the Environmental Services segment fell 42.7% y-o-y to S$12.9m.

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Above is an excerpt from a report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full PDF report @ https://www.iocbc.com/.

Previous report by OCBC:
2025-04-01 Keppel Infrastructure Trust - Under The Sea.

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