CK Infrastructure : 2021 Interim Results Investor Presentation (PDF)

INTERIM RESULTS

2021

CK Infrastructure

Holdings Limited	AUGUST 2021

Disclaimer

Potential investors and shareholders of the Companies (the "Potential Investors and Shareholders") are reminded that the Presentation comprises extracts of recent operational data and financial information of the Group which have not been reviewed or audited by the Companies' auditors.

Potential Investors and Shareholders should exercise caution when investing in or dealing in the securities of the Companies.

CK Infrastructure Holdings Limited	1

2021 Interim Results Overview

Profit contribution from: (HK$ million)	1H2021	1H2020	1H21 vs 1H20
Investment in Power Assets	902	813	+11%
United Kingdom portfolio	526	943	-44%
Australia portfolio	919	918	-%
Continental Europe portfolio	443	493	-10%
Canada portfolio	248	146	+70%
New Zealand portfolio	91	53	+72%
Hong Kong and Mainland China portfolio	221	111	+99%
Total Profit Contribution	3,350	3,477	-4%
Profit Attributable to Shareholders	3,011	2,860	+5%
EPS (HK$/share)	1.20	1.14	+5%
Interim DPS (HK$/share)	0.69	0.68	+1.5%

CK Infrastructure Holdings Limited	2

Breakdown of Profit Contribution

(in HK$ million)	1H21	1H20	1H21 vs
1H20
Investment in Power Assets	902	813	+11%

• Non-cashdeferred tax charges & tax credit in respect of deferred tax liabilities on intangible assets

United Kingdom portfolio

Australia portfolio

Continental Europe portfolio

Canada portfolio

New Zealand portfolio

HK & Mainland China portfolio

1. 943

1. 918

1. 493

1. 146

1. 53

221 111

-44%

-%

-10%

+70%

+72%

+99%

• Solid performance from AGIG
• Offset by lower profit contribution from VPN/UE (due to impact from regulatory resets) and EDL (lower power generation and termination of green scheme for WCMG)
• Divestment of Portugal Renewable Energy in Oct 2020
• Higher contribution from Dutch Enviro Energy
• Strong profit contribution from Reliance Home Comfort and Canadian Power

Total Contribution from Businesses	3,350	3,477	-4%
Treasury Related Activities & Others	(116)	(219)	+47%
Distribution to Perpetual Securities	(223)	(398)	+44%
Profit Attributable to Shareholders	3,011	2,860	+5%

• Strong recovery for EnviroNZ
• Strong recovery for China toll roads and materials businesses
• Redeemed US$1.2bn 5.875% perpetual securities in Mar 2021 / new US$300mn 4.2% perpetual securities issued in Jun 2021

Funds from Operations (FFO)	4,360	3,388	+29%

CK Infrastructure Holdings Limited	3

Profit Contribution by Region

	Continental
New Zealand	Europe	Canada
9%	5%
2%
HK & China
4%

Australia 18%

UK

41%

PAH 21%

1H2021*

	Continental
New Zealand	Europe	Canada
10%	3%
1%
HK & China

2%

Australia

19%

	UK
PAH	42%
23%

1H2020*

* 2020 and 2021 figures exclude non-cash deferred tax charges and tax credit in respect of deferred tax liabilities on intangible assets in the UK

CK Infrastructure Holdings Limited	4