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Contents
Section D: Notes to the THT and TIL financial statements for the year ended 30 June 2026
D3 Segment information (continued) Proportional EBITDA Details on the change in the measurement of Proportional EBITDA during the period is described in Note B4. Proportional EBITDA reconciles to profit/(loss) before income tax as follows:
2026
2025
TIL
$M 264
$M 221
Proportional EBITDA
Add: Statutory net finance income
15 70
9
Statutory share of profit from equity accounted investments, inclusive of impairment 1 Less: Proportional EBITDA attributable to TIL corporate activities (disclosed in corporate and other) 2
38
—
(3)
Proportional EBITDA of equity accounted investments Statutory loss on disposal of equity accounted investment 3
(260)
(224)
(15)
—
Statutory amortisation and depreciation Statutory profit before income tax
(6)
(21)
68
20
1. EBITDA in relation to arrangements with equity accounted investments that are eliminated for segment purposes. For statutory purposes, an offsetting adjustment is recognised within the share of profit from equity accounted investments, inclusive of impairment. 2. Relates primarily to development activities. 3. Relates to the sale of the Group's remaining interest in A25 (Refer to Note B2). D4 Revenue THT TIL 2026 2025 2026 2025 $M $M $M $M Rental income 1,120 1,069 — — Construction revenue 1 15 — — Other revenue 1 — 28 124 130 Concession fees 26 34 — — Total revenue 1 1,147 1,146 124 130 1. For TIL, other revenue relates to management fee revenue. Comparative amounts have been reclassified to present on a gross basis the revenue and the corresponding operating costs for some service recharge arrangements to align with current period presentation. For toll revenue, construction revenue and other revenue accounting policies, refer to Note B5.
Rental income and concession fees accounting policies Revenue type Accounting policy Rental income
The rental income revenue stream relates to lease payments received from operating leases on the land rights held by THT. This income is recognised in accordance with the terms of the lease contract. Other income from concession fees relates to the CityLink concession notes. Pursuant to the Agreement for the Melbourne CityLink concession deed (the Concession Deed), CityLink Melbourne Limited (CityLink) (a member of the Transurban Group), is required to pay annual concession fees for the duration of CityLink's concession period. Until a certain threshold rate of return on the project is achieved, the payment of concession fees due under the Concession Deed can be satisfied by means of non-interest bearing concession notes. CityLink issues notes semi-annually to Transurban Holding Trust, and Transurban Holding Trust recognises concession note income from the issue of these notes, at the present value of expected future repayments.
Concession fees
195
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