Financial performance highlights | Contents
Financial performance highlights
Key metrics table Financial metrics
% change 1
FY24
FY25
Statutory revenue
$ millions
4,119
3,770
(8.5)
Statutory NPAT
$ millions
376
178
(52.4)
Statutory cash flow from operating activities
$ millions
1,631
1,515
(7.1)
Proportional toll revenue 2
$ millions
3,535
3,732
5.6
Proportional EBITDA 2
$ millions
2,651
2,676
1.0
Proportional Operating EBITDA 2
$ millions
2,651
2,848
7.4
Free Cash (including Capital Releases and cash reserves) 2,5 Free Cash (excluding Capital Releases and cash reserves) 2,5
2,504 3 1,867 3
$ millions
2,659
6.2
$ millions
2,008
7.6
Gross distributions
$ millions
1,916
2,019
5.4
Distributions per security
cps
62
65
4.8
Capital Releases 2
$ millions
505
558
NM
Proportional drawn debt 2
$ millions
25,868
26,821
3.7
Ratios and rates
FY25
Proportional Group EBITDA margin 2
%
75.1
Corporate debt rating 3
rating
BBB+/Baa1/A-
Distributions Free Cash Flow coverage 2
%
99.5
Corporate SICR 2
x
3.7
Gearing 2
%
37.8
Weighted average cost of debt 2,4
FY25
AUD debt
%
4.5
USD debt
%
3.7
CAD debt
%
4.9
5 Figure 4 – Average daily traffic (millions)
Figure 5 – Proportional toll revenue ($ millions) 2
Figure 6 – Proportional Operating EBITDA ($ millions) 2,6
3732
75.1
73.4 73.7
2.5
2.5
71.7 72.5
3535
2.4
3314
2.0
2.0
2848
2651
2482
2626
2486
1955
1836
FY21 FY22 FY23 FY24 FY25
FY21 FY22 FY23 FY24 FY25
FY21 FY22 FY23 FY24 FY25
EBITDA margin (%) Proportional Operating EBITDA ($M)
1 Figures used for calculating percentage movements are based on whole numbers and relate to percentage movements from the previous corresponding period 2 Non-IFRS measure 3 From S&P Global Ratings, Moody’s Investor Service and Fitch Ratings respectively 4 Calculated using proportional drawn debt exclusive of letters of credit 5 Free Cash movement has been determined using the FY24 restated Free Cash as the starting point. Refer to FY24 Investor presentation, slide 29. Free Cash calculation is based on Proportional EBITDA, excluding non-recurring items 6 In FY25 the Group changed its definition of Proportional EBITDA and Proportional Operating EBITDA. FY22, FY23 and FY24 Proportional EBITDA, Proportional Operating EBITDA and EBITDA margin have been restated to align to the new definition
25
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