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Keppel Infrastructure Trust 9M distributable income up 59.2% at S$168.9 million on divestment gains

Keppel Infrastructure Trust 9M distributable income up 59.2% at S$168.9 million on divestment gains

By Kim Browne

Culture

Keppel Infrastructure Trust (KIT) on Tuesday (Oct 28) reported distributable income of S$168.9 million for the first nine months of 2025, up 59.2 per cent from S$106.1 million in the year-ago period.

This was attributed to higher contributions from City Energy, Ixom and Ventura, and boosted by divestment gains of S$49 million, KIT’s manager said in its third-quarter business update.

For the nine-month period, City Energy recorded higher year-on-year town gas volume and service income. Ixom posted a strong performance amid improved margins at the chemical manufacturing and distribution businesses.

In terms of capital management, the trust’s net debt stood at 4.6 times as at Sep 30, compared to 5.1 times as at Dec 31, 2024.

Its net gearing stood at 38 per cent, compared to 40.4 per cent as at end-2024. Interest coverage ratio rose to 13.1 times, from seven times as at December 2024.

Its weighted average cost of debt rose slightly to 4.65 per cent as at September, from 4.51 per cent as at end-December.

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The fall in distributable income in the latest nine-month period was notably in the absence of a special distribution of S$131.2 million that was recorded in the year before.

Units of KIT closed Monday unchanged at S$0.46.

Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.

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