The Transurban Group reported its FY17 results on 8 August 2017, which included key operational and financial performance data for Transurban Queensland Finance Pty Ltd, the finance subsidiary of Transurban Queensland (TQ) which manages Transurban’s network of toll roads in Brisbane.
Source: Transurban reported TQ figures based on its 62.5% proportional ownership. Figures in table above are on a full 100% basis
- TQ’s FY17 operational and financial performance includes AirportlinkM7 (which was acquired since 1 April 2016) for calculation purposes. Toll revenue was up 23% year on year (yoy) to AUD616m, primarily driven by the improvement in average daily traffic by 15%
- EBITDA (excluding significant items) improved by 97.1% yoy to AUD429m, despite the increase in costs by 17%. TQ incurred AUD5m of statutory transaction and integration costs in FY17 following the acquisition of AirportlinkM7
- Excluding AirportlinkM7, TQ’s average daily traffic increased by 2.3%, toll revenue increased by 6.3% and EBITDA increased by 4.9%
- As at 30 June 2017, total drawn debt at TQ and AirportlinkM7 levels increased slightly to AUD4.1bn. TQ’s next debt maturity is AUD495m in FY19
Other operational highlights:-
- TQ’s three ongoing construction projects, namely Gateway Upgrade North, Logan Enhancement Project and Inner City Bypass, are progressing on time and on budget
- TQ delivered significant improvements to customer services in the Brisbane market
- Streamlined processes to help customers avoid more than AUD100m in Queensland State Government enforcement penalties
A link to the results is available here.