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Monday, 20 January 2014

K-Green Trust Unaudited Results For The Full Year Ended 31 December 2013

FY2013 RESULTS HIGHLIGHTS

1. Excluding construction revenue arising from the flue gas treatment upgrade following its completion last year, Group revenue for FY 2013 was $67.1 million, 1.5% lower compared to FY 2012.

2. Profit after tax for FY 2013 was $14.2 million, contributing to earnings per unit (EPU) of 2.25 cents for the year. Excluding the contribution from the construction of the flue gas treatment upgrade last year, profit after tax was $0.3 million or 1.9% lower compared to FY 2012.

3. Net asset value per unit as at 31 December 2013 was $1.00.

4. Cash generated from operations remains healthy at $52.3 million for FY 2013.

5. Distribution per unit (DPU) for 2H 2013 will be maintained at 4.69 cents. Together with the distribution of 3.13 cents per unit for 1H 2013, total distribution for FY 2013 is 7.82 cents per unit, translating to a distribution yield of 7.5% based on the market closing price of $1.045 on 31 December 2013.

6. Mr Thomas Pang, CEO of Keppel Infrastructure Fund Management Pte Ltd, the Trustee-Manager of K-Green Trust, said, "K-Green Trust continues to deliver stable and predictable returns to our unitholders. As part of our asset enhancement program, we have installed a 1MWp solar photovoltaic (PV) system on the rooftops of Ulu Pandan NEWater Plant which has helped to reduce electricity intake from the grid, and operating cost of the plant. In 2014, we remain committed to driving growth through acquisitions and will continue to seek other asset enhancement opportunities and capacity expansion to improve the operating performance of our plants."

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