Note: This report provides analysis and commentary based on public information and is not intended as investment advice. Investors should conduct their own research and consult with financial advisors before making investment decisions.
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Full report located at the end
Latest Update - 1H FY25 Key Takeaways
Proportional toll revenue increased 6.2% to A$1,872 million, driven by 2.4% traffic growth and inflation-linked escalations
Operating EBITDA margin expanded to 76.2% from 73.1% in FY24, reflecting operational efficiency and cost discipline
Organizational restructuring announced in May 2025, targeting annual cost savings exceeding A$50 million
Three major projects on track: West Gate Tunnel (85% complete), M7-M12 Integration (44% complete), 495 NEXT (65% complete)
FY25 distribution guidance of 65.0 cents per security reaffirmed (+4.8% year-on-year)
March quarter 2025 traffic remained resilient with ADT +1.8% across the group despite cyclone impacts in Brisbane
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