Introduction and overview
CEO, Michelle Jablko and Chair, Craig Drummond
NSW toll review This year, we also spent considerable time engaging with the NSW Government and the Independent Toll Review on toll reform. The review is giving us the opportunity to create better outcomes for Sydney motorists, while protecting the significant investment that we and our partners have made. The NSW Government and the Review have both recognised the importance of honouring contracts that are in place, and both have noted there are multiple options for achieving reform. Along with our partners, we have invested $36 billion into Sydney’s motorway network over the past two decades. This investment has provided enormous liveability and productivity benefits for Sydney drivers in the form of travel-time savings, reliability and road safety. We are committed to working with the NSW Government and the other investors in Sydney’s motorways on potential reform, by exploring solutions that utilise several aspects of the Review as a base, to enhance outcomes for Sydney. Looking ahead to growth With strong population growth in our markets and emerging technology that has continued potential to improve the safety and efficiency of our assets, we are confident our customers will continue to see value in our roads in the years to come.
Our 22 assets have an average concession life of over 28 years, so our focus is on building trust with all of our stakeholders, planning for the future and anticipating factors that will shape traffic on our roads for the decades to come. There is considerable population growth underway in all of our markets, with an additional 6.2 million people expected to live in the cities we operate in by 2042. 3 To support the needs of these growing cities, urban road freight volumes have been steadily increasing, historically keeping pace with – or outpacing – population growth. This trend is expected to continue in the coming decades with the need for more road infrastructure, and we know our assets provide crucial, efficient and safe connections for freight travelling between distribution centres, airports and ports. Additionally, evolving technology will support and enable new transport and mobility solutions. We are harnessing this technology to continue to improve the safety and efficiency of our roads through predictive analytics and automation and machine learning technology to predict congestion and identify and respond to incidents faster. We’ve also run connected and autonomous vehicle trials in most of our markets, and we are constantly exploring fresh advances that offer new opportunities.
In setting ourselves up to achieve growth, the past year has marked a period of organisational change. Our new operating model provides a strong foundation for us to participate in the significant opportunities ahead. In turn, this will create sustainable growth in value and distributions for our security holders, and lasting benefits for our customers, government partners and other stakeholders. We would like to thank all employees for their hard work and dedication in achieving many milestones during the year. We also thank our customers for continuing to choose our roads, and our security holders for their ongoing support of Transurban.
Michelle Jablko Chief Executive Officer
Craig Drummond Chair and Independent Non-executive Director
1 Transurban Insights: Urban Mobility Trends (August 2024) 2 On a calendar year basis 3 Transurban Insights: Liveable and Productive Cities (February 2024)
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