Keppel Infrastructure Trust has shown resilience in its portfolio through strategic distribution management.
### FY24 DPU Increases by 1.0% Compared to Last Year, Without Special Distribution
In the fiscal year 2024, Keppel Infrastructure Trust (KIT) delivered a Distribution Per Unit (DPU) of 3.90 cents, aligning closely with widely-held expectations of 4.0 cents. The breakdown includes a DPU of 1.95 cents in the first half, a stub distribution of 0.70 cents, and a final distribution of 1.25 cents in the second half.
### Notable Decline in Headline Distributable Income by 35.7% Year-on-Year
KIT’s total Distributable Income (DI) took a hit, dropping by 35.7% year-on-year to S$203.7 million for FY24. However, after factoring in management’s adjustments for extraordinary items and timing issues — notably a substantial S$113.2 million adjustment from a capital optimization initiative in FY2023 — DI would have actually risen by 4.3% year-on-year to S$218.7 million. In the second half of FY24, the headline DI saw a decline of 38.7% year-on-year, yet the adjusted DI reflected a 14.7% year-on-year increase. This positive shift was primarily fueled by recent acquisitions, highlighted by the addition of Ventura bus lines in Australia, which significantly contributed to DI growth.
### Aggregate Leverage Drops to 40.9%
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Keppel Infrastructure Trust continues to maintain a steady course through careful financial management and strategic development, demonstrating its commitment to value creation in a challenging landscape.
