Transurban Corporate Report FY25 Introduction
Letter from our Chair and CEO
We are pleased to present Transurban’s Corporate Report for FY25.
Creating value for stakeholders In FY25, we continued our focus on improving the end-to-end customer experience, bringing together our physical assets with our digital offerings to offer customers even more value. This included the launch of a personalised travel-time savings feature in the Linkt app, which is now helping our Australian customers quantify the value they get from using our roads. In FY25, our customers collectively saved 479,000 hours 2 on average every workday by choosing our roads. Our Linkt Rewards program also continued to expand, with membership growing 55% in FY25, to nearly 1.6 million members who can take advantage of savings from our range of rewards partners. We are focused on where we can take this program in the future, and this year we started trialling an ‘earn and redeem’ Linkt Rewards model, which has received positive feedback so far.
It was a year of great progress for the business, as we focused on creating value for stakeholders, driving operational efficiency and pursuing growth. Real and sustainable value was delivered for all our stakeholders this year through new initiatives and continuous improvement, both on and off the road, positioning us for the significant growth opportunities ahead. Financial highlights In FY25, traffic and revenue increased across all markets, highlighting the value customers see in choosing to take our roads over alternative routes. Proportional toll revenue increased by 5.6% to $3,732 million, underpinned by a 2.2% increase in traffic across the Group. 1
Our continued focus on managing costs and maximising the performance and efficiency of our operations saw FY25 total operating costs remain flat at $947 million. Alongside this, Proportional Operating EBITDA was up 7.4% to $2,848 million compared to FY24, and our EBITDA margin improved by 140 basis points. 1 We also saw an increase in Free Cash to $2,008 million, an increase of 7.6% on FY24 ($1,867 million). 1 Our full-year distribution of 65 cents per stapled security was up 4.8% on FY24, and 99.5% covered by Free Cash, with $2,019 million in gross distributions paid to our security holders. 1 Our ability to convert traffic performance into cash flow, and ultimately into distributions, highlights the quality and defensive characteristics of our portfolio, especially in the current uncertain macroeconomic environment.
1 Non-IFRS measure/s 2 Compared to the fastest toll-free alternative route. All times are averages and estimates modelled based on Deloitte Access Economics (DAE) and Transurban analysis
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