Keppel net profit up 25% in H1 2025

This was driven by solid performance in infrastructure and real estate.

Keppel Ltd. reported a 25% increase in net profit to $431m for the first half of 2025, up from $345m a year earlier, excluding its non-core portfolio for divestment. Including the portfolio, net profit rose 24% to $378m.

The results were driven by solid performance in infrastructure and real estate, as well as a continued shift to an asset-light, recurring income model.

Keppel has earmarked $14.4b in non-core assets for divestment.

CEO Loh Chin Hua said these assets no longer fit Keppel’s strategy, though many remain profitable. The company aims to unlock capital to reduce debt and support future growth.

Keppel has divested $915m in assets so far this year, bringing its total since October 2020 to $7.8 billion. Another $500m in transactions is expected to close in 2H 2025.

The company is also pushing digital transformation, achieving $88 in annual cost savings through AI and digital tools, with a target of $120m by end-2026.

The board also declared an interim dividend of 15.0 cents per share, payable on 21 August 2025, and announced a $500 million share buyback programme.

Repurchased shares will support employee share plans and potential M&A deals.