Keppel (BN4) Q3 2026 TU earnings summary
Event summary combining transcript, slides, and related documents.
Q3 2026 TU earnings summary
29 Oct, 2026Executive 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.
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