Key highlights of Dalrymple Bay Infrastructure's FY23 financial results

Dalrymple Bay Infrastructure Limited (ASX: $DBI) has released its investor presentation for the 2023 Full Year Financial Results, showcasing key financial and operational highlights. The company reported an EBITDA of $261.3m, a 1.1% decrease from FY22, while debt tenor increased by 1.3 years to 7.7 years. Distributions saw an 8.4% growth to 20.8 cps, and $280m of capital projects were initiated in FY23. The Terminal Infrastructure Charge (TIC) rate also experienced an 8.4% uplift in TY-23/24 compared to TY-22/23.

Executive commentary on financial performance and growth opportunities

The long-term resilience of Dalrymple Bay Terminal (DBT) provides the opportunity for organic growth and the development of a portfolio of assets. The company's strategic priorities over the next 12 months include delivering organic revenue growth through approved NECAP Projects, progressing economic assessments of the 8X Project, and identifying opportunities for diversification aligned with DBI's transition strategy. Additionally, DBI aims to retain an investment grade credit rating through debt capital structure optimization and advance concept studies for potential hydrogen production, storage, and export facilities.

Summary of FY23 financial results and outlook

Dalrymple Bay Infrastructure's FY23 financial results reflect stable and predictable cash flows, operational excellence, and a focus on sustainability and ESG initiatives. The company's strategic priorities emphasize organic growth, diversification, and the potential development of hydrogen-related infrastructure. With a commitment to delivering value to securityholders through distributions and capital growth, DBI's outlook remains focused on leveraging its core competencies to navigate complex regulatory situations and capitalize on growth opportunities in the metallurgical coal export market.