Remuneration report
FY24 Group Performance Scorecard
KPI / Measure Commentary
Outcome
Below
Met
Above
Financials (55%) Proportional EBITDA 1 (40%)
• Proportional EBITDA was $2,663m. While this was lower than budget, average daily traffic (ADT) increased YoY across all regions. However, toll-only revenue in Sydney, Melbourne and Brisbane was softer than anticipated and North America outperformed due to a combination of higher average tolls and higher ADT. • Proportional EBITDA excludes the impact of the NSW government’s early opening of the Rozelle Interchange which resulted in additional costs (such as maintenance and tolling) being incurred and diversion of traffic across the NSW network in FY24 which was not included in the financial targets. • Proportional Net Costs was $723m. This was lower than to budget as a result of lower software costs, lower spend on strategic initiatives, vacancy management activities and lower consulting costs. This was partially offset by higher net tolling expenses due to higher volumes of non-arranged travel, lower collection rates and higher maintenance expense due to M5SW. • Proportional Net Costs excludes the impact of the NSW government’s early opening of the Rozelle Interchange which resulted in additional costs (such as maintenance and tolling) being incurred which was not included in the financial targets.
Proportional Net Costs 1 (15%)
Non-financial Measures (45%)
HSE measures (15%)
• Transurban has had a strong year in relation to HSE outcomes, outperforming on our HSE Action Plans. Performance relative to road safety targets continues to be impacted by the increased risk associated with higher traffic volumes and changes in driver patterns. Transurban’s roads have continued to perform significantly better than comparable road networks over the period. The Group’s ongoing commitment to building a strong HSE and road safety culture is reflected in the number of HSE observations reported and action plans completed by our people. • Our commitment to Customers has been focused on ongoing enhancements to the digital channel experience, ensuring core system stability and service availability and adoption and expansion of the Linkt Rewards program. This has resulted in improved Net Promotor Score (NPS) outcomes. • Fredericksburg Extension achieved service commencement ahead of budget and schedule. All other major projects are progressing and in line with budget. • Transurban’s Scope 1 and 2 GHG emissions reduction remains ahead of the near-term FY30 target (70% absolute reduction against FY19 baseline). This includes an absolute reduction in emissions of 30% in FY24. This has been achieved through a continued focus on energy efficiency initiatives and an increase in renewable electricity use (from 80% in FY23 to 87% in FY24), despite the new inclusion of Rozelle to the reporting boundary. • Transurban has continued a program of initiatives that have built trust, awareness and understanding in the business. Specifically, ongoing community investments including child-car seat safety education, First Nations driver safety programs, charity fun runs, continuation of our six-year partnership with NeuRA to deliver critical road safety research into occupant injury prevention and fuel discount offers such as ‘Fuel up your savings’ to address the increasing concern about cost-of-living pressures. • With the focus on a smooth leadership transition, the emphasis has been on maintaining confidence in Transurban leadership, employee connection and inclusion and wellbeing. Through the transition, we have seen strong employee survey results maintained in these areas.
Customer and Delivery (15%)
Sustainability, Reputation and Leadership (15%)
Overall
Overall STI outcome: 92.9% of Target 61.9% of Maximum
The overall outcome takes into consideration the achievement against the KPIs as well as alignment with securityholder outcomes over the year and fairly reflects the performance of the Group.
1 E xcluding specific major development and legal project spend, transaction and integration costs and the incremental impact of unbudgeted new assets
97
Made with FlippingBook Digital Publishing Software