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Sembcorp Industries (U96) investor relations material
Sembcorp Industries M&A Announcement summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.M&A Announcement summary11 Dec, 2025
Deal rationale and strategic fit
Acquisition provides strategic entry into Australia, a AAA-rated, structurally attractive market with strong growth and decarbonization drivers.
Alinta offers a high-quality, vertically integrated energy platform with 3.4GW of installed and contracted generation assets and a 10.4GW renewables and firming development pipeline.
The deal rebalances the portfolio toward developed, lower-risk OECD markets, reducing regulatory risk and increasing geographic diversification.
Aligns with long-term energy transition and net zero ambitions, supporting national climate targets.
Immediate earnings and returns accretion, with pro forma EPS and ROE increasing significantly post-acquisition.
Financial terms and conditions
Equity consideration is approximately AUD 5.6 billion (S$4.8 billion); enterprise value is AUD 6.5 billion (S$5.6 billion), with an EV/EBITDA multiple of 6.6x.
Fully funded by a committed bridge facility of AUD 6.5 billion, with no equity raising required.
Bridge facility to be refinanced via Alinta-level debt, syndicated loans, and corporate bonds.
Pro forma net debt/EBITDA to rise to 4.6x, with plans for steady deleveraging and robust cash generation to support debt servicing.
Fully paid in cash using bridge and working capital facilities, subject to customary adjustments.
Synergies and expected cost savings
Scale and operational synergies expected from combining global experience with local expertise, enhancing operational scale and diversification.
Cost benefits anticipated in renewables development, access to cheaper capital, and below-average supply costs.
Immediate earnings accretion, with pro forma EPS increasing by 9% and ROE by 2% for FY2024.
Robust cash generation from resilient operations to support debt servicing and deleveraging.
How will the new 2035 emissions target be met?
Mitigate Alinta's earnings volatility from market swings.
Future growth markets and capital deployment strategy.
Loyang B coal asset management plan
Alinta long-term funding and deleveraging path
Australia market entry unique value drivers
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Next Sembcorp Industries earnings date
H2 202526 Feb, 2026
Next Sembcorp Industries earnings date
H2 202526 Feb, 2026
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Frequently asked questions
Sembcorp Industries Ltd is a Singapore-based company engaged in energy, water, and urban development solutions. The company operates in sectors such as conventional and renewable power generation, providing utilities and environmental solutions for industrial and municipal customers. Sembcorp’s energy portfolio includes natural gas, solar, and wind projects, with a growing focus on sustainable energy sources. Additionally, it is involved in urban development, offering integrated solutions in industrial parks and townships across Asia. Sembcorp Industries aims to support sustainable urbanization and energy transitions in its markets. The company is headquartered in Singapore, and its shares are listed on the Singapore Exchange.
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