Keppel H1 net profit falls 59% on legacy rig impairments

Keppel

30/07/2026 24:39

Overview
Singapore infrastructure group's 1H 2026 revenue reached S$3.81 bln
Consolidated net profit for 1H 2026 fell 59% yr/yr to S$155 mln in 1H 2026
Company declared S$0.15 interim dividend for 1H 2026

Outlook
Keppel advancing towards $2-3 bln asset monetisation target for 2026

Result Drivers
DIGITAL & ENERGY INFRASTRUCTURE - Co cited operational milestones in digital infrastructure and energy, including Bifrost fibre pairs and hydrogen-compatible cogen plant
RIG IMPARIMENTS - Legacy rig impairments, including recycling of foreign currency translation losses, drive $46 million net loss in legacy O&M assets

Company press release: ID:nSN9NGfkN

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
S$3.81 bln
 
H1 Dividend
 
S$0.15
 
H1 Total Operating Income
 
S$173.6 mln
 
H1 Net Profit
 
S$155 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the consumer goods conglomerates peer group is "buy"
Wall Street's median 12-month price target for Keppel Ltd is S$13.16, about 9.7% above its July 29 closing price of S$12.00
The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 20 three months ago

Reuters Recommended Reads
July 28 - Keppel surpasses 2026 interim funds target early as FUM tops $77.36 billion
July 27 - Apollo Global to invest $1.5 billion in Keppel oil rig fund
July 29 - Sembcorp Utilities to buy 20% stake in Aster Power, become exclusive gas supplier

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)