14 July 2016
TRAFFIC AND REVENUE DATA - JUNE QUARTER 2016Transurban has today released its June quarter 2016 traffic and revenue data.
For the June quarter, on a statutory basis, toll revenue1 increased by 17.4% to $500 million when compared to the prior corresponding period (pcp). Proportional toll revenue, which Transurban believes is the most accurate reflection of the portfolio's performance, increased by 17.5% from the pcp, to $513 million. Revenue growth for the period was favourably impacted by the Easter holiday period shifting from the June quarter in 2015 to the March quarter in 2016.
Network highlights for the period included:
SydneyFor the quarter, Sydney proportional toll revenue increased 13.4% to $204 million. Average daily traffic (ADT) increased 6.5% to 632,000 trips. The Easter holiday period is estimated to have had a 185 basis points favourable impact on traffic for the period.
Average workday traffic increased 5.5% and average weekend/public holiday traffic increased 8.2%.
Of total ADT, car traffic increased 6.1% and truck traffic increased 10.1% for the quarter.
Revenue on the M7 increased by 22.7% for the June quarter. This was in part due to the increase in the truck toll multiplier during the June quarter to 2.33 times the car toll. The multiplier will reach 3 times the car toll on 1 January 2017.
MelbourneFor the quarter, Melbourne toll revenue increased 7.7% to $166 million. ADT increased 0.6% to 820,000 transactions. The Easter holiday period is estimated to have had a 135 basis points favourable impact on traffic for the period.
Average workday traffic decreased 0.9% and average weekend/public holiday traffic increased 3.9%.
Of total ADT, car traffic decreased 1.6% and truck traffic increased 12.1% for the quarter.2
Major works on the CityLink Tulla Widening project commenced in mid-March 2016 and continued throughout the June quarter.
1 At the financial results for the six months ended 31 December 2015, Transurban revised its definition of toll revenue to include all revenue from customers, specifically toll, service and fee revenue. Toll revenue for the June quarter is based on this definition.
2 During the current financial year, the business completed a project which reviewed vehicle classifications, leading to a number of cars being reclassified as light commercial vehicles.
BrisbaneFor the quarter, Brisbane proportional toll revenue increased 35.7% to $93 million. ADT increased 25.8% to 388,000 trips.3 Excluding Legacy Way and AirportlinkM7 from the June quarter, Brisbane proportional toll revenue increased 3.7% to $71 million and ADT increased
1.9% to 314,000 trips. The Easter holiday period is estimated to have had a 165 basis points favourable impact on traffic for the period.
Average workday traffic on Legacy Way for the June quarter was 20,000 trips, which is in-line with the March quarter.4
Transurban reached financial close on AirportlinkM7 on 1 April 2016. Average workday traffic on AirportlinkM7 for the June quarter was 64,000 trips.
For Brisbane, average workday traffic increased 25.2% and average weekend/public holiday traffic increased 25.4% for the quarter.5
Of total ADT, car traffic increased 28.0% and truck traffic increased 19.1% for the quarter.6
Greater Washington AreaFor the quarter, the Greater Washington Area proportional toll revenue increased by 43.8% to US$37 million.7 ADT increased 7.4% to 93,000 trips.
Average workday toll revenue for the June quarter on the 495 Express Lanes increased 13.5% to US$239,000. The average dynamic toll price for the quarter was US$4.41.
Average workday toll revenue for the June quarter on the 95 Express Lanes increased 33.4% to US$302,000. The average dynamic toll price for the quarter was US$6.72.
Full traffic and revenue information for the June quarter is attached.
Amanda StreetCompany Secretary
Investor enquiries Jessica O'BrienInvestor Relations Manager
+613 8656 8364
3 AirportLinkM7 was acquired on 1 April 2016, and Legacy Way commenced tolling on 26 June 2015. These assets have been excluded from the prior period for calculation purposes.
4 Full toll prices apply across all vehicle classes on Legacy Way from 2 May 2016.
5 Excluding Legacy Way and AirportlinkM7, average workday traffic increased 1.4% and average weekend/public holiday traffic increased 1.5%.
6 Excluding Legacy Way and AirportlinkM7, car traffic increased 1.5% and truck traffic increased 3.1%.
7 Excluding the ownership change on 28 June 2015 to 100%, toll revenue increased by 21.7%.
Appendix 1 - Traffic and revenue performance8Jun 16 quarter | Proportional toll revenue % change | ADT % change |
Melbourne | 7.7% | 0.6% |
Sydney | 13.4% | 6.5% |
Brisbane9 | 35.7% | 25.8% |
Greater Washington Area | 43.8% | 7.4% |
FY16Proportional toll revenue
% change ADT % changeMelbourne 7.3% 1.0%
Sydney 13.9% 7.4%
Brisbane10 18.2% 26.5%
Greater Washington Area 107.8% 13.5%
8 All percentage changes are to the pcp.
9 AirportLinkM7 was acquired on 1 April 2016, and Legacy Way commenced tolling on 26 June 2015. These assets have been excluded from the prior period for calculation purposes.
10 AirportLinkM7 was acquired on 1 April 2016, and Legacy Way commenced tolling on 26 June 2015. These assets have been excluded from the prior period for calculation purposes.
Appendix 2 - Traffic and revenue data - June quarterAsset | Ownership | Jun 16 quarter | Jun 15 quarter | % change | FY16 | FY15 | % change | |
CityLink | 100% | Total Toll Revenue ($AUDm) (net of GST) | $166 | $154 | 7.7% | $660 | $615 | 7.3% |
Average Daily Transactions ('000) | 820 | 815 | 0.6% | 825 | 816 | 1.0% |
Hills M2 | 100% | Total Toll Revenue ($AUDm) (net of GST) | $64 | $58 | 10.0% | $255 | $227 | 12.5% |
Average Daily Trips ('000) | 126 | 118 | 6.4% | 125 | 116 | 7.5% |
Lane Cove Tunnel/ MRE | 100% | Total Toll Revenue ($AUDm) (net of GST) | $23 | $20 | 15.4% | $89 | $79 | 13.2% |
Average Daily Trips ('000) | 87 | 82 | 6.6% | 86 | 81 | 6.3% |
Cross City Tunnel | 100% | Total Toll Revenue ($AUDm) (net of GST) | $15 | $14 | 7.7% | $60 | $56 | 6.8% |
Average Daily Trips ('000) | 37 | 36 | 3.1% | 37 | 36 | 2.7% |
M1 Eastern Distributor | 75.1% | Total Toll Revenue ($AUDm) (net of GST) | $32 | $29 | 8.8% | $127 | $116 | 9.5% |
Average Daily Trips ('000) | 56 | 53 | 4.4% | 55 | 53 | 4.2% |
Westlink M711 | 50% | Total Toll Revenue ($AUDm) (net of GST) | $90 | $73 | 22.7% | $340 | $272 | 25.0% |
Average Daily Trips ('000) | 179 | 167 | 6.7% | 177 | 165 | 7.2% |
M5 South West Motorway | 50% | Total Toll Revenue ($AUDm) (net of GST) | $65 | $58 | 13.1% | $251 | $216 | 16.2% |
Average Daily Trips ('000) | 148 | 137 | 8.1% | 144 | 130 | 11.0% |
11 Average tolled trip length was 12.80 kilometres for the quarter on Westlink M7.
Transurban Group Ltd. published this content on 14 July 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 13 July 2016 23:18:15 UTC.
Original documenthttps://www.transurban.com.au/content/dam/investor-centre/TCL_Traffic_and_Revenue_Data_June_Quarter_2016.pdf
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