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Utilities

Keppel Corp. Ltd.

Company Background

Keppel Corp.'s main pillars are energy-related infrastructure building and real estate development. Wholly owned subsidiary Keppel Offshore & Marine is one of the world's major builders and repairers of offshore oil rigs. It boasts a global network of 20 yards and offices. Another subsidiary, Keppel Land, develops office and residential complexes in Singapore. It is responsible for major projects like the Marina Bay Financial Center. It has been expanding its overseas portfolio, with a focus on China as well as emerging markets like Vietnam and Indonesia.

Keppel Corp. was incorporated as Keppel Shipyard in 1968. It diversified during the 1970s and 1980s, venturing into property development and expanding overseas. Keppel in 1997 participated in establishing M1, one of the city-state's big mobile network operators. It is currently one of M1's largest minority shareholders. Temasek Holdings, a Singapore sovereign wealth fund, is the current largest minority shareholder of Keppel Corp. Loh Chin Hua, who became the company's CEO in January, has over 25 years of experience in real estate and fund management, including with Government of Singapore Investment Corp., another Singapore sovereign wealth fund, and Prudential Investment.

Business Summary

Keppel Corp. Ltd. is an investment holding and management company, which engages in the provision of offshore & marine engineering and construction services. It operates through the following segments: Offshore & Marine, Infrastructure & Others, Urban Development, Connectivity, Asset Management, and Corporate & Others. The Offshore & Marine segment include offshore production facilities and drilling rig design, construction, fabrication and repair, ship conversions and repair, and specialized shipbuilding. The Infrastructure & Others segment include power generation, renewables, environmental engineering, and infrastructure operation and maintenance. The Urban Development segment include property development and investment, as well as master development. The Connectivity segment include the provision of telecommunications services, retail sales of telecommunications equipment and accessories, development and operation of data centers, and provision of logistics solutions. The Asset Management segment include management of private funds and listed real estate investment and business trusts. The Corporate & Others segment consists of treasury operations, research & development, investment holdings and provision of management, and other support services. The company was founded on August 3, 1968 and is headquartered in Singapore.

Financial Highlights

Dec 2020 SGDUSD
Revenue6,574.34M4,766.13M
Gross Profit466.06M337.87M
Operating income-579.08M-419.81M
Income before tax-92.46M-67.03M
Net income-505.86M-366.72M
EBITDA-165.58M-120.04M
Diluted EPS-0.27-0.20
Dividends Per Share0.100.07
Total Assets32,105.87M24,292.26M
Total liabilities20,949.97M15,851.37M
Total equity10,728.45M8,117.47M
Operating cash flow522.09M378.49M
Currency in SGDCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 6,767.26M 5,963.77M 5,964.78M 7,579.70M 6,574.34M
Gross Profit 1,171.34M 785.61M 655.44M 805.31M 466.06M
Operating income 969.52M 408.08M 201.45M 477.65M -579.08M
Income before tax 1,054.92M 150.89M 963.97M 733.32M -92.46M
Net income 783.92M 196.02M 948.39M 706.97M -505.86M
EBITDA 1,206.00M 620.46M 383.84M 852.95M -165.58M
Diluted EPS 0.42 0.10 0.51 0.38 -0.27
Dividends Per Share 0.20 0.22 0.25 0.20 0.10
Total Assets 29,267.48M 28,685.60M 26,645.96M 31,372.92M 32,105.87M
Total liabilities 16,933.84M 16,712.64M 15,069.27M 19,726.89M 20,949.97M
Total equity 11,658.94M 11,442.73M 11,267.76M 11,210.85M 10,728.45M
Operating cash flow 746.15M 1,490.70M 411.57M -172.60M 522.09M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 4,901.51M 4,320.07M 4,420.63M 5,556.16M 4,766.13M
Gross Profit 848.40M 569.09M 485.76M 590.32M 337.87M
Operating income 702.22M 295.60M 149.30M 350.13M -419.81M
Income before tax 764.07M 109.30M 714.42M 537.54M -67.03M
Net income 567.79M 141.99M 702.87M 518.23M -366.72M
EBITDA 873.50M 449.45M 284.47M 625.23M -120.04M
Diluted EPS 0.31 0.07 0.38 0.28 -0.20
Dividends Per Share 0.14 0.15 0.18 0.14 0.07
Total Assets 20,258.52M 21,464.82M 19,549.49M 23,331.66M 24,292.26M
Total liabilities 11,721.35M 12,505.71M 11,055.96M 14,670.65M 15,851.37M
Total equity 8,070.15M 8,562.35M 8,266.88M 8,337.37M 8,117.47M
Operating cash flow 540.43M 1,079.84M 305.02M -126.52M 378.49M

Valuation Measures

Dec 2020
PER--
ROA-1.59%
ROE-4.61%
Operating margin-8.80%
Profit margin-7.69%

Key executives

  • Chief Executive Officer & Executive Director: Chin Hua Loh
  • Chief Financial Officer: Hon Chew Chan
  • General Manager-Group Information Technology: Jason Chin
  • General Manager-Group Risk & Compliance: Kenny Mok
  • General Manager-Risk Compliance: Chee Keong Chang

Shareholders

  • Temasek Holdings Pte Ltd. (Investment Company) (20.9%)
  • The Vanguard Group, Inc. (1.8%)
  • BlackRock Fund Advisors (1.7%)
  • Norges Bank Investment Management (1.3%)
  • Dimensional Fund Advisors LP (0.7%)
  • FIL Investment Management (Singapore) Ltd. (0.5%)
  • State Street Global Advisors Singapore Ltd. (0.4%)
  • Schroder Investment Management (Singapore) Ltd. (0.3%)
  • BlackRock Advisors (UK) Ltd. (0.3%)
  • SHANWOOD DEVELOPMENT PTE LTD (0.3%)

Contact Details

  • Website:http://www.kepcorp.com
  • Address: No. 18-01, Keppel Bay Tower, 1 HarbourFront Avenue, Singapore, 098632, Singapore
  • Phone: +65.6270.6666

Related Companies

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  • Kapler Pte Ltd.
  • Flemmington Investments Pte Ltd.
  • Keppel Land (Mayfair) Pte Ltd.
  • Domenico Pte Ltd.
  • Equity Rainbow II Pte Ltd.
  • Chanceroy Pte Ltd.
  • Keppel Almere Pte Ltd.
  • Glendon Pte Ltd.
  • KPN-Keppel Alliance (SK28) Co. Ltd.
  • Keppel Corp. Ltd. /Subsidiaries (2)/
  • Keppel Konnect Pte Ltd.
  • Eternal Commercial Ltd.
  • Keppel Logistics (Foshan Sanshui Port) Co., Ltd.
  • Keppel Hong Da (Tianjin Eco-City) Property Dev Co., Ltd.
  • Keppel Hong Yuan (Tianjin Eco-City) Property Dev Co., Ltd
  • Keppel Lakefront (Wuxi) Property Development Co., Ltd.
  • Keppel Nantong Heavy Industry Co., Ltd.
  • Keppel REIT Property Management Pte Ltd.
  • Keppel Tianjin Eco-City Holdings Pte Ltd.
  • Lindel Pte Ltd.
  • Merryfield Investment Pte Ltd.
  • Oceansky Pte Ltd.
  • Parksville Development Pte Ltd.
  • Pembury Properties Ltd.
  • Keppel Heights (Wuxi) Property Development Co., Ltd.
  • KeplandeHub Ltd.
  • Floraville Estate Pte Ltd.
  • Harvestland Development Pte Ltd.
  • Hillsvale Resort Pte Ltd.

Competitors

  • CNIM Group SA
  • Babcock & Wilcox Enterprises Inc
Last Updated on 18 Jun, 2021

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