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Keppel nets profit of S$356m for 1H 2019

Interim dividend of 8.0 cents per share declared for 1H 2019. 

Keppel Corporation Limited (Keppel) reported a net profit of S$356 million for the half year ended 30 June 2019, 39% below the S$586 million achieved a year ago, mainly due to lower contributions from en-bloc sales of property projects which amounted to S$416 million in 1H 2018.

Compared to 1H 2018,  the six months of 2019 saw improved performance at Keppel Offshore & Marine which returned to profitability, higher contributions from M1 following the consolidation of its results with the Group, as well as strong earnings growth at Keppel Infrastructure and Keppel Capital.

Past quarters' results

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Keppel nets profit of S$203m in 1Q 2019

Keppel Corporation Limited reported a net profit of S$203 million for the first three months of 2019, 40% below that of S$337 million for 1Q 2018. In 1Q 2018, the Group benefitted from a S$289 million gain arising from the en-bloc sale of Keppel Cove in Zhongshan, China as compared to gains of S$174 million in the current period from the divestment of a 70% interest in Dong Nai Waterfront City, Vietnam and the re-measurement of previously held interests in M1 Limited at acquisition date.

The Group achieved revenue of S$1,531 million for 1Q 2019, which was $61 million or 4% higher than that of 1Q 2018. The increase was underpinned by higher revenues from power and gas sales, infrastructure projects in Singapore and Hongkong, asset management and the consolidation of M1, offset by lower contributions from property trading in Singapore. Download links Financial statements Presentation slides Management speeches Q&A transcripts

 
 
 
Keppel’s 1Q 2018 net profit up 34% year on year to S$337m

Keppel Corporation Limited (Keppel) reported a net profit of S$337 million for the first three months of 2018, 34% higher than the S$252 million net profit for 1Q 2017, bolstered by higher contributions from the Property Division.

The Group achieved revenue of S$1,470 million for 1Q 2018, which was an improvement of S$222 million or 18% over 1Q 2017. The increase was underpinned by higher revenues achieved by the Property and Infrastructure divisions, which mitigated the impact of lower work volume in the Offshore & Marine Division.

Keppel’s 1H 2018 net profit up 38% year on year to S$583m

Dividends totaling 15.0 cents per share declared for 1H 2018 include a special dividend of 5.0 cents per share.

Keppel Corporation Limited reported a net profit of S$583 million for half year ended 30 June 2018, 38% higher than the S$423 million achieved a year ago. Stronger contributions from the Property and Infrastructure divisions more than offset losses incurred by the Offshore & Marine and Investments divisions in 1H 2018.

The Group’s 1H 2018 revenue of S$2,993 million was 7% higher than the S$2,802 million for 1H 2017. Offshore & Marine and Property revenues remained stable year on year while Infrastructure revenue grew by 23% to S$1,211 million due to better sales in the power and gas businesses, as well as progressive recognition from the Keppel Marina East Desalination Plant project.

Keppel’s 9M 2018 net profit up 18% year on year to S$809m

Keppel Corporation Limited (Keppel) reported a net profit of S$809 million for the nine months ended 30 September 2018, 18% higher than the S$688 million achieved a year ago. This was underpinned by stronger contributions from the Property
and Infrastructure divisions, which more than offset losses incurred by the Offshore & Marine and Investments divisions.

The Group’s 9M 2018 revenue of S$4,288 million was slightly lower compared with S$4,419 million for 9M 2017. Revenue recognition from the rigs sold to Borr Drilling, coupled with increased power and gas sales, were offset by lower contributions from property trading and asset management, a decrease in the O&M Division’s work volume, as well as the absence of the sale of investments.

Keppel nets profit of S$944 million for FY 2018, up 382% yoy

Proposed final cash dividend of 15.0 cts/share will bring total cash distribution to 30.0 cts/share for FY 2018.

Keppel Corporation Limited (Keppel) reported a net profit of S$944 million for the 12 months ended 31 December 2018. This was 382% higher than the S$196 million net profit for FY 2017, which included the S$619 million one-off financial penalty and related costs arising from Keppel O&M’s global resolution with criminal authorities in the United States, Brazil and Singapore.

The Group’s FY 2018 net profit of S$944 million would have been 16% higher year on year, excluding the one-off financial penalty and related costs in FY 2017. Earnings growth for the period was underpinned by stronger performance from across the Offshore & Marine, Property and Infrastructure divisions.

Keppel nets higher profit of S$421m for 1H 2017, bolstered by multi-business strategy

Tax exempt one-tier interim dividend of 8.0 cents per share declared.

For the half year ended 30 June 2017, Keppel Corporation Limited reported a net profit of S$421 million, slightly higher than the S$416 million for 1H 2016. Group revenue of S$2,802 million for 1H 2017 was S$566 million, or 17% below that of the same period in 2016.

Keppel posts 11% yoy net profit growth to S$712m for 9M 2017

Non-O&M businesses underpin 29% yoy increase in 3Q 2017 net income to S$291m

For the nine months ended 30 September 2017, Keppel Corporation Limited reported a net profit of S$712 million, 11% higher than the S$641 million for 9M 2016. Group revenue of S$4,419 million for 9M 2017 was S$408 million, or 8% below that of the same period in 2016.

Keppel posts FY 2017 net profit of S$217m compared to S$784m a year ago following one-off penalty

The proposed final cash dividend of 14.0 cents per share will bring the total cash distribution for FY 2017 to 22.0 cents per share, representing a payout ratio of about 48% on the Group’s net profit of S$836 million, excluding Keppel O&M’s one-off financial penalty and related costs.

Keppel Corporation Limited reported a net profit of S$217 million for the 12 months ended 31 December 2017. This was 72% lower than the S$784 million net profit for FY 2016, due mainly to the one-off financial penalty arising from Keppel O&M’s global resolution with criminal authorities in the United States, Brazil and Singapore, and related legal, accounting and forensics costs amounting to S$619 million.

Excluding the one-off financial penalty and related costs, the Group would have turned in a net profit S$836 million for FY 2017, 7% higher compared to S$784 million a year ago.