Transurban Corporate Report FY25 Financial statements
Section D: Notes to the THT and TIL financial statements for the year ended 30 June 2025
D3
Segment information (continued)
Proportional EBITDA Details on the change in the measurement of Proportional EBITDA during the period is described in Note B4. Proportional EBITDA reconciles to profit/(loss) before income tax as follows:
2025
2024² $M $M
TIL
Proportional EBITDA (new presentation)
221
188
(Less): EBITDA attributable to TIL corporate activities (disclosed in corporate and other) 1 (Less): Proportional EBITDA of non-100% owned equity accounted investments
(3)
(2)
(224)
(186)
(Less): Statutory depreciation and amortisation
(21)
(4)
Add: Statutory net finance income
9
9
(Less): Share of profit/(loss) from equity accounted investments, inclusive of impairments
38 20
(12)
Statutory profit/(loss) before income tax
(7)
1. Relates primarily to development activities. 2. Comparatives have been restated to align with current period presentation.
D4
Revenue
THT
TIL
2025 2024 $M $M $M $M 2024 2025
Toll revenue Rental income
—
—
1
1
1,069
1,021
— — 42 — 43
— — 44 — 45
Construction revenue
15 28 34
27 76 47
Other revenue Concession fees Total revenue
1,146
1,171
For toll revenue, construction revenue and other revenue accounting policies, refer to Note B5.
Rental income and concession fees accounting policies Revenue type Accounting policy Rental income
The rental income revenue stream relates to lease payments received from operating leases on the property held by THT. This income is recognised in accordance with the terms of the lease contract. Other income from concession fees relates to the CityLink concession notes. Pursuant to the Agreement for the Melbourne CityLink concession deed (the Concession Deed), CityLink Melbourne Limited (CityLink) (a member of the Transurban Group), is required to pay annual concession fees for the duration of CityLink's concession period. Until a certain threshold rate of return on the project is achieved, the payment of concession fees due under the Concession Deed can be satisfied by means of non-interest bearing concession notes. CityLink issues notes semi-annually to Transurban Holding Trust, and Transurban Holding Trust recognises concession note income from the issue of these notes, at the present value of expected future repayments.
Concession fees
186
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