22 Jul 2020
Keppel Infrastructure Trust Unaudited Results for the Second Quarter and Half Year ended 30 June 2020
The Directors of Keppel Infrastructure Fund Management Pte. Ltd., as Trustee-Manager of Keppel Infrastructure Trust, advise the following results of Keppel Infrastructure Trust for the second quarter and half year ended 30 June 2020.
Healthy operational performance drives strong YoY growth of 20.3%
for KIT’s 1H 2020 distributable cash flow
- Distributable cash flow (DCF) for the second quarter of 2020 (2Q 2020) was $62.2 million1, bringing DCF for the first half of 2020 (1H 2020) to 113.3 million1, a 35.8% and 20.3% year-on-year (YoY) increase over the corresponding periods in 2019 respectively.
- The resilient performance was supported by healthy operational performance across Keppel Infrastructure Trust’s (KIT) portfolio of businesses and assets that saw minimal impact from COVID-19.
- Declared distribution per Unit (DPU) of 0.93 cents for 2Q 2020, bringing total DPU for 1H 2020 to 1.86 cents, which translated to an annualised distribution yield of 6.9% as at 30 June 20202.
- KIT and Keppel Energy Pte. Ltd. (KE) secured a seven-year $700 million sustainability-linked loan for Keppel Merlimau Cogen Plant. The loan is one of the largest sustainability-linked loans in Singapore and the first in the energy sector to-date.
1 Excludes Basslink as KIT does not depend on Basslink’s cash flows for distribution
2 Based on the market closing price per Unit of $0.540 as at 30 June 2020