Keppel Infrastructure Trust H2 DPU rises 1% to S$0.0197

[SINGFAPORE] Keppel Infrastructure Trust (KIT) posted a distribution per unit (DPU) of S$0.0197 for its second half ended Dec 31, 2025, 1 per cent up from its DPU of S$0.0195 for the previous corresponding period.

This brought its full-year DPU for FY2025 to S$0.0394, largely unchanged from the DPU of S$0.039 a year earlier.

KIT’s trustee-manager said on Tuesday (Feb 3) that the trust’s distributable income for H2 rose 18.8 per cent year on year to S$130.1 million, from S$109.5 million previously.

This came on the back of a divestment gain recorded from the sale of a partial 24.6 per cent stake in transport provider Ventura, which was completed in August 2025.

For FY2025, the distributable income climbed 24.4 per cent year on year to S$249.5 million, from S$200.6 million previously. The improvement was attributed mainly to debt repayment, but partly offset by an absence of performance fees recorded in the financial year, the trustee-manager said.

The trust’s energy transition segment accounted for the bulk of full-year distributable income, contributing S$187.3 million.

For H2, revenue fell 4.3 per cent year on year to S$1.16 billion, from S$1.21 billion a year earlier. This was attributed to lower revenue from Senoko and Ventura, as well as lower landfill revenue and waste volume from its South Korean waste management business Eco Management Korea.

On a full-year basis, the trust’s top line grew 2.9 per cent to S$2.3 billion from S$2.2 billion in FY2024. This was largely driven by higher revenue from the provision of bus services at Ventura, as well as higher contributions from industrial infrastructure business Ixom and City Energy.

As at Dec 31, 2025, KIT’s total assets stood at S$6.4 billion, up from S$6.3 billion a year earlier.

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Its total liabilities also increased, amounting to S$4.5 billion as at Dec 31, 2025, from S$4.3 billion a year earlier.

The distribution will be paid out on Feb 20, with a record date set at Feb 11.

Outlook

The trustee-manager noted that KIT’s portfolio of businesses and assets provides products and services “for which demand remains steady regardless of economic cycles”.

It added that it aims to grow distributable income across KIT’s portfolio by “driving value-creation initiatives and capitalising on sector-specific growth drivers”.

Units of KIT rose 1 per cent or S$0.005 to close at S$0.525 on Monday.