Full Year 2024 Transurban Group Earnings Call Transcript
Key Points
- Transurban Group (ASX:TCL) reported a 7% increase in revenue and traffic growth across all markets.
- The company achieved a 7% growth in distribution, fully covered by free cash flow.
- Transurban Group (ASX:TCL) maintained cost discipline, with cost growth well below inflation at 3.6%.
- The company announced new major road upgrades, including the Logan Motorway in Queensland.
- Transurban Group (ASX:TCL) has a strong liquidity position with over $4 billion in corporate liquidity.
- Construction projects in Sydney and Melbourne have negatively impacted traffic growth by approximately 1%.
- The company faces ongoing challenges with toll reform negotiations in New South Wales.
- There is uncertainty regarding the impact of macroeconomic conditions on future traffic volumes.
- The company's cost growth is expected to be around 4% in FY25, which is in line with inflation.
- Transurban Group (ASX:TCL) has a high level of interest rate hedging, but it is slightly lower than historical levels.
Thanks, Mel. Good morning, everyone. And thank you for joining us at Transurban's 2024 full year results briefing.
Transurban acknowledges the traditional owners of the lands throughout Australia, and we pay respect to elders past and present. We acknowledge our roads and infrastructure are built on country. With deep respect, we incorporate the voices of First Nations peoples in our approach, supporting equitable access to mobility across communities.
We're joined today by our CEO, Michelle Jablko; and CFO, Henry Byrne. And together, they'll take you through the presentation that we lodged with the ASX this morning. Today's presentation should take about 30 minutes. And then, we'll have plenty of time for questions. I'll now hand over to Michelle to get us started.
Thanks, Taryn, And good morning to everyone on the call. I'm really pleased with the way in which we've delivered this set of
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