Proven track record of tapping sustainable financing
Following the launch of the Sembcorp Green Financing Framework and the Sembcorp Sustainable Financing Framework in 2021 and the subsequent update of the Sembcorp Green Financing Framework in 2024, we have successfully issued green and sustainability-linked bonds and loans to pursue our growth objectives.
Learn more about our sustainable financing.
Capital recycling
Reinvesting the proceeds in our businesses allows us to enhance returns and create value for our shareholders. We continually evaluate our portfolio and explore the option of capital recycling to support our growth and optimise our portfolio. We are committed to ensuring that our capital recycling efforts are firmly aligned with our long-term financial goals and sustainability targets.
Disciplined capital management
The increase in leverage ratios in 1H2026 is primarily due to financing raised for the acquisition of Alinta Energy, which was completed in June 2026 as well as the consolidation of Alinta’s existing debt. Leverage ratios remain within Group’s expectations and are expected to improve over time, supported by Alinta’s operating earnings and cash flow.
Capital Management
Net Debt / Adjusted EBITDA
Net Debt / Adjusted EBITDA
Adjusted EBITDA / Interest
Adjusted EBITDA / Interest
Prudent debt management
We proactively manage our debt maturity profile as well as cost of debt, balancing it with a mix of floating and fixed rate debt to ensure competitiveness in the current interest rate environment.
Group Debt Profile
Debt Maturity Profile as at Jun 30, 2026 (S$ million)
Debt Maturity Profile as at Jun 30, 2026 (S$ million)
Borrowing Profile
Borrowing Profile
Hedging Profile
Hedging Profile
Weighted Average Cost of Debt
Weighted Average Cost of Debt
Weighted Average Debt Maturity
Weighted Average Debt Maturity
2024 – 2028 Capital Allocation Plan
*Computed based on an annualised 12-month basis using pro forma Alinta’s underlying EBITDA / Adjusted EBITDA, for Jan 1 to Jun 30, 2026, excluding its earnings realised from environmental certificates in 1H26, which are not expected to recur in 2H26. Adjusted EBITDA figure is reported based on underlying basis, excluding exceptional items, deferred payment note foreign exchange loss and the effects of change in fair value on Alinta’s energy derivatives
**Median of peers’ LTM Net Debt / Adjusted EBITDA and adjusted EBITDA / Interest expense as at Sep 30, 2023. Adjusted EBITDA = reported EBITDA + share of result from associates and JVs, net of tax
Note: The above aspirations are management’s strategic plans for the next five years as announced during Investor Day 2023 in November 2023. The above aspiration, including capital allocation as well as sources of fundings, are based on potential investments, divestments, expiry of contracts / concessions as well as the efforts to secure new projects and contracts. There is no assurance that any of such actions may materialise, nor as to the terms and mode of such actions