Corporate Report for the year ended 30 June 2022
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Section B: Notes to the Group financial statements for the year ended 30 June 2022
Section B: Notes to the Group financial statements for the year ended 30 June 2022
B4 Segment information (continued) Segment information—proportional income statement
2022 $M
North America
Corporate and other
Note
Melbourne
Sydney
Brisbane
Total 2,626
Toll revenue Other revenue
722
1,264
451
189
— 29 29
22
46
3
36
136
Total proportional revenue
744 594
1,310
454 320
225 120
2,762 1,900
Proportional EBITDA
976
(110)
2021 $M
North America¹
Corporate and other
Note
Melbourne
Sydney
Brisbane
Total 2,486
Toll revenue Other revenue
616
1,278
425
167
— 30 30
24
49
3
21
127
Total proportional revenue Underlying proportional EBITDA
640 502
1,327 1,033
428 314
188
2,613 1,836
72
(85)
Significant items
B6
—
(6)
—
(18)
—
(24)
Proportional EBITDA 1,812 1. Proportional segment information includes the results of discontinued operations, being TC, which includes the 95 Express Lanes and 495 Express Lanes assets which are included at proportional ownership, being 100% for the period to 31 March 2021 and 50% from 1 April 2021 to 30 June 2021. Reconciliation of segment information to statutory financial information The proportional results presented above are different from the statutory financial results of the Group due to the proportional presentation of each asset’s contribution to each geographical region and adjustments. Segment revenue Revenue from external customers comprises toll, service and fee revenues earned on toll roads. Segment revenue reconciles to total statutory revenue as follows: 502 1,027 314 54 (85)
2022
2021
Note
$M
$M
Total segment revenue (proportional)
2,762
2,613
Add: Revenue attributable to non-controlling interests Construction revenue from road development activities
304 911
291 567
Other revenue from discontinued operations 1
— 58
6
Intragroup elimination 2
32
Less: Proportional revenue of non-100% owned equity accounted assets Toll revenue receipts relating to the A25 concession financial asset 3 Other revenue receipts relating to the A25 concession financial asset 3
(600)
(432)
(14) (15)
(13) (14)
Revenue attributable to discontinued operations 1 Total statutory revenue from continuing operations
—
(164)
3,406
2,886
B5
1. Statutory financial information classifies the results of TC as discontinued operations in the prior comparative period. FY21 other revenue from discontinued operations represents intragroup revenue recognised in relation to arrangements between continuing and discontinued operations that is eliminated for segment purposes. 2. Statutory revenue recognised in relation to arrangements with the equity accounted investments that are eliminated for segment purposes. 3. The Executive Committee members acting as the chief operating decision maker assesses the performance of the Group using proportional results that include A25 income streams relating to availability payments and guaranteed toll income which are classified as revenue within the proportional results. These revenues form part of the ordinary activities of the A25 and are reflective of its underlying performance. For statutory accounting purposes, these income streams offset the related concession financial asset receivable recorded on acquisition of the A25 (refer to Note B18).
135 135
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