Financial statements | Contents
Section B: Notes to the Group financial statements for the year ended 30 June 2025
Section B: Notes to the Group financial statements
Basis of preparation and significant changes
B1 Corporate information Transurban Holdings Limited (the Company, the Parent or THL) is a Company incorporated in Australia and limited by shares that are publicly traded on the Australian Securities Exchange. These financial statements have been prepared as a consolidation of the financial statements of THL and its controlled entities (Transurban, Transurban Holdings Limited Group, Transurban Group or the Group). The controlled entities of THL include the other members of the stapled group being Transurban Infrastructure Management Limited (TIML) as the responsible entity of Transurban Holding Trust and its controlled entities (THT) and Transurban International Limited and its controlled entities (TIL). The equity securities of THL, THT and TIL are stapled and cannot be traded separately. The Group is a for-profit entity. Entities within the Group are domiciled and incorporated in Australia, the United States of America and Canada. The consolidated financial statements of the Transurban Group for the year ended 30 June 2025 (FY25) were authorised for issue in accordance with a resolution of the Directors on 20 August 2025. Directors have the power to amend and reissue the financial statements. B2 Summary of significant changes in the current reporting period The financial position and financial performance of the Group was particularly affected by the following events during the reporting period: ConnectEast litigation In December 2024, a Supreme Court of Victoria judgement was received in relation to litigation commenced by ConnectEast (owner of EastLink in Melbourne) against the Group in relation to fees payable by ConnectEast under a tolling services arrangement with the Group. This matter is specific to CityLink under the Melbourne CityLink Act 1995. The judgement requires compensation payable by the Group to ConnectEast for four sample years (2015, 2017, 2019 and 2020). The proceeding was commenced in 2020 and the Statement of Claim referred to a fee for each year since 2009. The Group has appealed the decision. As a result of the Court judgement, the Group has recognised liabilities that reflect the estimated compensation that could be payable by the Group to ConnectEast for fees and interest, measured and recognised under accounting standards. Uncertainty arises in estimating the amount and timing of compensation that could be payable to ConnectEast. This is because the Court judgement relates to compensation payable by the Group to ConnectEast for four sample years and the legal proceedings are ongoing. The portion of these liabilities that relates to prior period roaming fees has been treated as a non-recurring item and excluded from the calculation of proportional operating EBITDA and Free Cash (refer to Notes B4 and B9). Organisational changes On 8 May 2025, Transurban announced a number of organisational changes to support the company's growth and simplification. This included approximately 300 people leaving the business. There have been no changes to the executive level or to the composition of the Group's operating/reportable segments as a result of these organisational changes. A restructuring expense of $29 million has been recognised for FY25. The restructuring expense has been treated as non-recurring item and excluded from the calculation of proportional operating EBITDA and Free Cash given its once-off nature (refer to Notes B4 and B9). Basis of preparation The Group financial statements are general purpose financial statements which: • Have been prepared in accordance with the Corporations Act 2001 (Cth), Australian Accounting Standards (AAS) and other authoritative pronouncements of the Australian Accounting Standards Board (AASB); • Have applied all accounting policies in accordance with AAS and, where a standard permits a choice in accounting policy, the policy applied by the Group has been disclosed in these financial statements; • Have applied the option under ASIC Corporations (Stapled Group Reports) Instrument 2015/838 to present the consolidated financial statements in one section (Section A) and all other reporting group members in a separate section (Section C); B3 • Comply with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB); • Have been prepared under the historical cost basis, except for certain financial assets and liabilities (including derivative instruments) which are measured at fair value or revalued amount; • Are presented in Australian dollars, which is the Group's functional and presentation currency; • Have been rounded to the nearest million dollars, unless otherwise stated, in accordance with ASIC Corporations (Rounding in Financial/ Director's Reports) Instrument 2016/191; and • Have restated the presentation of comparative amounts, where applicable, to conform to the current period presentation.
111
Made with FlippingBook Digital Publishing Software