Australia’s Transurban sees boost in traffic and toll revenue

Transurban, an Australian manager of highways and developer of urban toll roads, saw toll revenue for the December 2014 quarter increase by more than 63% to US$304 million compared to the same period last year. For the half-year ended December 2014, toll revenue rose by 63.7% to nearly $602 million, compared to the corresponding period in 2013, a company statement said. Transurban, established in 1966 and based in Melbourne, owns CityLink in Melbourne, which connects three of the city's major freeways
January 14, 2015 Read time: 3 mins
891 Transurban, an Australian manager of highways and developer of urban toll roads, saw toll revenue for the December 2014 quarter increase by more than 63% to US$304 million compared to the same period last year.

For the half-year ended December 2014, toll revenue rose by 63.7% to nearly $602 million, compared to the corresponding period in 2013, a company statement said.

Transurban, established in 1966 and based in Melbourne, owns CityLink in Melbourne, which connects three of the city's major freeways. It also has stakes in five toll motorways in Sydney and in five of the six toll motorways in Brisbane.
 
The calculations do not include Queensland Motorways assets and concessions, which were acquired in July last year. Transurban has a 62.5% interest in Queensland Motorways.

Strong traffic growth occurred during the quarter, the company statement noted. This included 3.2% growth on CityLink compared to the same period last year. “This is the highest percentage growth for a quarter observed on CityLink since the June 2013 quarter.”

The north-west corridor of the Sydney orbital network continues to provide traffic growth, “reflecting the benefits being delivered by the M2 upgrade”. This project was completed in August 2013. Average traffic growth across Westlink M7, Hills M2 and Lane Cove Tunnel was 9% for the quarter.

Last October, Transurban reached agreement with the Victoria state government in Melbourne to deliver the CityLink Tulla Widening. The project is a major upgrade to add extra lanes in each direction between the Bolte Bridge and Tullamarine Freeway to Melrose Drive, Essendon Fields, as well as extra lanes on the Bolte Bridge and an eastbound section of the West Gate Freeway between Bolte Bridge and Power Street.

Integrated engineering firm 2642 Thiess Australia was announced as the preferred design and construction contractor for Tulla Widening work. Major construction is expected to start in October this year for completion in 2018. Transurban will fund the $850 million project.

In the US state of Virginia, Transurban opened the 95 Express Lanes ahead of time and budget. “This has enhanced Transurban’s network position of Express Lanes in northern Virginia and brings total lane kilometres of that network to 199.” Early completion of the roadway improvements from the 95 Express Lanes allowed the project to be opened to motorists on 14 December, after a two and a half year construction period. Tolling stared on 29 December.
Finance & Funding

For more information on companies in this article

Related Content

  • Sales down but Deutz keeps profit level in first half 2015
    August 11, 2015
    German engine maker Deutz has reported new order sales were down just over 10% in the first half of this year, to €670.7 million. Unit sales also fell, around 21% down on the first half of last year, to 78,120 engines. Sales of 41,213 engines in the second quarter of 2015 were 11.7% higher than in the previous quarter but were 24.5% lower than in prior-year quarter (Q2 2014: 54,622 engines). Revenue was in line with forecasts, falling by 11% year on year to €670.2 million compared with €753.4 million
    Read More
  • Major Australia highway project underway in Victoria
    December 11, 2015
    Work is underway on a major highway project in Victoria State, Australia. Geotechnical work and preliminary surveying is being carried out for the Monash Freeway Upgrade project. In all this project is worth some US$293.66 million (A$400 million). The geotechnical work includes testing of the road surface and stared on the stretch from Berwick-Dadenong North and will continue until late-February 2016. Meanwhile surveying is in progress at various locations along the freeway.
    Read More
  • Wacker Neuson Group sees revenue rise 12% for 2014
    March 16, 2015
    International light and compact equipment manufacturer Wacker Neuson Group achieved record results for 2014 across most key performance indicators, the company reports. The group met its increased profit and the revenue forecast, despite challenging market conditions. Group revenue increased 11% to a record €1.28 billion, up from €1.16 billion in 2013 and in line with the company’s forecast. “Adjusted by currency effects, this corresponds to a growth of 12%,” a company statement said. Business in Central Eu
    Read More
  • Key French highway upgrade deal for consortium
    March 5, 2012
    The French Government has agreed a highway contract with consortium Atlandes for a section of the A63 autoroute in southwest France.
    Read More

Highlighted Content