Keppel Ltd. (KPELF)

Keppel Income Statement

Financials in millions SGD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	5,983	6,601	6,966	6,620	6,611
Revenue Growth (YoY)	-9.37%	-5.24%	5.23%	0.13%	0.56%
Cost of Revenue	4,264	4,746	5,005	5,181	5,083
Gross Profit	1,719	1,855	1,961	1,438	1,528
Selling, General & Admin	629.23	712.1	704.13	667.88	665.17
Other Operating Expenses	164.93	114.59	169.98	152.54	173.3
Operating Expenses	1,018	1,054	1,120	1,061	1,283
Operating Income	700.9	801.3	841.26	377.39	245.3
Interest Expense	-420.82	-409.39	-328.05	-146.19	-170.1
Interest & Investment Income	158.07	142.53	143.28	139.89	193.17
Earnings From Equity Investments	457.52	161.87	322.42	535.98	458.77
Currency Exchange Gain (Loss)	-5.97	5.45	-21.15	0.7	17.43
Other Non Operating Income (Expenses)	-	-	-	-	-146.02
EBT Excluding Unusual Items	889.7	701.76	957.76	907.77	598.54
Gain (Loss) on Sale of Investments	306.85	74.99	63.2	27.92	576.93
Gain (Loss) on Sale of Assets	115.85	16.15	44.09	21.86	242.53
Asset Writedown	4.89	317.31	148.51	130.54	185.11
Other Unusual Items	-	-	-	6.8	8.05
Pretax Income	1,317	1,110	1,214	1,095	1,611
Income Tax Expense	305.69	244.1	289.71	245.15	375.19
Earnings From Continuing Operations	1,012	866.11	923.85	849.74	1,236
Earnings From Discontinued Operations	-270.15	108.11	3,181	83.07	-225.95
Net Income to Company	741.45	974.21	4,105	932.81	1,010
Minority Interest in Earnings	58.65	-22.49	-26.83	5.41	16.04
Net Income	800.11	951.72	4,078	938.22	1,026
Preferred Dividends & Other Adjustments	11.6	11.57	11.6	11.6	3.4
Net Income to Common	788.51	940.15	4,067	926.62	1,023
Net Income Growth	-15.93%	-76.66%	334.68%	-8.56%	-
Shares Outstanding (Basic)	1,813	1,822	1,787	1,778	1,820
Shares Outstanding (Diluted)	1,829	1,842	1,803	1,795	1,831
Shares Change (YoY)	-0.69%	2.14%	0.43%	-1.94%	0.69%
EPS (Basic)	0.43	0.52	2.28	0.52	0.56
EPS (Diluted)	0.43	0.51	2.26	0.52	0.56
EPS Growth	-15.58%	-77.37%	337.21%	-7.69%	-
Free Cash Flow	147.67	-411.08	-862.66	-436.62	-966.56
Free Cash Flow Per Share	0.08	-0.22	-0.48	-0.24	-0.53
Dividend Per Share	0.340	0.340	0.340	0.330	0.330
Dividend Growth	-	-	3.03%	-	230.00%
Gross Margin	28.73%	28.10%	28.15%	21.73%	23.11%
Operating Margin	11.71%	12.14%	12.08%	5.70%	3.71%
Profit Margin	13.18%	14.24%	58.38%	14.00%	15.47%
Free Cash Flow Margin	2.47%	-6.23%	-12.38%	-6.60%	-14.62%
EBITDA	945.21	974.13	1,025	541.07	525.77
EBITDA Margin	15.80%	14.76%	14.71%	8.17%	7.95%
D&A For EBITDA	244.31	172.83	183.78	163.68	280.47
EBIT	700.9	801.3	841.26	377.39	245.3
EBIT Margin	11.71%	12.14%	12.08%	5.70%	3.71%
Effective Tax Rate	23.21%	21.99%	23.87%	22.39%	23.29%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.