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Keppel (BN4) investor relations material
Keppel Q3 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net profit excluding the Non-Core Portfolio for Divestment and Discontinued Operations rose ~15% YoY in 3Q26 and >20% in 9M26; 9M recurring income increased >10%.
Overall net profit rose 20% YoY in 3Q26 but fell 40% in 9M26, weighed by lower remaining non-core asset GAV and related costs.
Financial highlights
9M26 asset management fees rose 18% YoY to $354m; asset management net profit increased 30% and SSCI net profit grew 2.9x.
Technology Solutions revenue exceeded $900m in 9M26, with EBITDA up 110% YoY.
Outlook and guidance
Targeting ~$600m in further asset monetisations by end-2026; 10–15% of realised non-core monetisation proceeds is intended for special dividends.
Deal-flow pipeline is ~$23b; Infrastructure is pursuing ~$15b in bids, tenders and proprietary developments.
Decarbonisation and Sustainable Solutions is pursuing a $15b pipeline across cooling, bioenergy and waste solutions.
Hong Kong IWMF's 15-year O&M contract is expected to begin by end-2026.
- Record FY23 profit and 54% recurring-income growth underpin a $200b 2030 FUM ambition.BN4
H2 2023 - AI-driven asset management and infrastructure growth targets $200B FUM by 2030.BN4
Investor presentation - AI-driven asset management targets $200B FUM by 2030, leveraging energy and digital infrastructure.BN4
Investor presentation - Accelerating toward $200b FUM by 2030 with strong recurring income and digital infrastructure growth.BN4
Investor presentation - Strong global asset manager targeting $200b FUM by 2030 with a focus on sustainability and digital growth.BN4
Investor presentation - Net profit up 25% year-over-year to $530 million, FUM at $106 billion, and asset monetisation advancing.BN4
H1 2026 - Slightly lower 1Q26 net profit, but asset management fees, cash inflow, and monetisation improved.BN4
Q1 2026 TU - Targeting $200b FUM by 2030, with a focus on sustainable and digital infrastructure growth.BN4
Corporate presentation - Net profit from continuing operations grew 5% to SGD 1.06 billion, led by asset management and digital infrastructure.BN4
H2 2024
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