KEPPEL CORPORATION LIMITED 1Q 2014 REPORT CARD

1. Net Profit decreased 5% to S$339 million, compared to
1Q 2013's S$357 million.

(NB: Net profit for this quarter is largely in line with 1Q 2013's, excluding one‐ off gains from the reversal of provision from the sale of a power barge and write‐back of tax provision made by Keppel Land in 1Q 2013.)

2. Earnings per Share was 18.7 cents, down 6% from
1Q 2013's 19.8 cents.
3. Annualised Return on Equity was 13.4%.
4. Economic Value Added decreased from S$217 million to
S$151 million.
5. Cash outflow of S$395 million.
6. Net gearing was 0.14x.

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