Transurban Corporate Report FY25 Financial statements
Section B: Notes to the Group financial statements for the year ended 30 June 2025
B4 Segment information (continued) Segment information—proportional income statement
2025
North America
Corporate and other
$M
Melbourne Sydney Brisbane
Total 3,732
Toll revenue Other revenue
987
1,846
597
302
—
25
31
4
9
(6) (6)
63
Total proportional revenue Proportional operating EBITDA
1,012
1,877 1,448
601 453
311 221
3,795 2,848
845
(119)
Less: Non-recurring items¹
(143)
—
—
—
(29)
(172)
Proportional EBITDA (new presentation)
702
1,448
453
221
(148)
2,676
Other material items included in proportional EBITDA: Proportional road operating costs (excluding proportional major maintenance spend)
(56) (29)
(261)
(59) (30)
(32) (14)
1
(407) (129)
Proportional major maintenance spend
(56)
—
1. Relates to the ConnectEast litigation liability costs (for prior period roaming fees charged) and restructuring costs recognised during the period. Refer to Note B2 for further detail.
2024
North America
Corporate and other
$M
Melbourne Sydney Brisbane
Total 3,535
Toll revenue Other revenue
948
1,767
568
252
—
27
30
4
7
(5) (5)
63
Total proportional revenue
975 801 783
1,797 1,377 1,390
572 415 420
259 168 188
3,598 2,631 2,651
Proportional EBITDA (previously reported)¹ Proportional EBITDA (new presentation)¹
(130) (130)
Material items included in proportional EBITDA: Proportional road operating costs (excluding proportional major maintenance spend)
(51) (46)
(228)
(55) (35)
(32)
(6)
(372) (139)
Proportional major maintenance spend
(56)
(2)
—
1. In the comparative reporting period, there were no non-recurring items, therefore, proportional EBITDA equalled proportional operating EBITDA.
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 corporate and other. Segment revenue Revenue from external customers comprises toll and fee revenues earned on toll roads. Segment revenue reconciles to total statutory revenue as follows: 2025 2024 Note $M $M Total segment revenue (proportional) 3,795 3,598 Add: Revenue attributable to non-controlling interests 400 385 Construction revenue from road development activities 668 964 Intragroup elimination 1 157 157 (Less): Constrained revenue relating to legal proceedings 2 (140) — Proportional revenue of non-100% owned equity accounted assets (1,110) (985) Total statutory revenue B5 3,770 4,119
1. Statutory revenue recognised in relation to arrangements with the equity accounted investments that are eliminated for segment purposes. 2. Relates to the ConnectEast litigation that has been treated as a non-recurring item for segment reporting purposes. Refer to Note B2 for further details.
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