Do You Know How Atlas Arteria Performed In September 2018 Quarter?

  • Oct 23, 2018 AEDT
  • Team Kalkine
Do You Know How Atlas Arteria Performed In September 2018 Quarter?

Tolls road operator Atlas Arteria (ASX: ALX) today revealed its September quarter revenue along with traffic statistics and APRR/AREA update for the period.

For the third quarter ended 30 September 2018, the weighted average toll revenue and traffic recorded by the company has increased by 3.4% and 0.9%, respectively, on the prior corresponding period (pcp). This reflects the improvement in traffic level at APRR, ADELAC and specially at Warnow Tunnel with 11.4% increase which was partially utilized to offset the decline of 4.7% at Dulles Greenway.

Atlas Arteria has successfully finalized the concession contracts amendments for APRR and AREA through a capital investment plan, subject to French State approval.

ALX’s capital investment plan has a total value of ~€187 million, consisting of 12 projects including new or improved motorway exchanges, environmental protection developments, as well as customer service improvements at 2,318 kilometres motorway network located in the east of France, APRR. The additional capital will generate 0.198% more toll revenue per annum at APRR and 0.389% per annum at AREA over 2019-2021. 

APRR in which Atlas Arteria holds 25% interest has shown total traffic increase of 1.3% in September 2018 quarter compared to previous corresponding period. This has led to 3.9% increase in toll revenue to €702.0 million, reflecting higher traffic mix, toll increase both at APRR and AREA; and light vehicle as well as heavy vehicle traffic increase.

ADELAC’s average daily traffic increased by 1.3% to 31,644 in September 2018 quarter, thereby generating 3.4% higher toll revenue of €165,846. The company holds 25.03% in ADELAC, a concessionaire of the A41 motorway connecting road between Annecy in eastern France and Geneva in Switzerland.

Dulles Greenway located in Virginia, United Stated is completely held by the company indirectly through 100% stakes in Dulles concession owner, Toll Road Investors Partnership II. As anticipated by the company Dulles performance has been downgraded compared to previous corresponding year but the rate of decline has shown slight improvement compared to the first half of 2018. The average workday traffic at Dulles declined by 4.6% and non-workday traffic decreased by 5.0% mainly due to the impact of Hurricane Florence passing through the region. Subsequently, average daily toll revenue at Dulles has declined by 2.0% on pcp, delivering US$247,876 revenue for the September 2018 quarter.

Warnow Tunnel the other major toll road of ALX, located in Rostock, Germany, has put across the tremendous improvement in traffic performance for September 2018 quarter at the back of temporary maintenance activities on competing routes in and around Rostock. The rise was such that average daily traffic increased by 11.4% on pcp for three months ended 30 September 2018. Driven by the launch of higher toll prices over the last 12 months, company’s average daily toll revenue from Warnow Tunnel increased by 13.8% to €39,143.

The company has announced the retirement of Mr. Mark Goodrick as Chief Financial Officer (CFO) of the company from 30 November 2018. Further, it intends the appointment of Mr. Bodie ter Kuile as Mr. Goodrick’s successor from the date of his retirement, pursuant to Macquarie’s agreement.

Despite announcing decent rise in September quarter results, ALX’s share price has fallen by 0.146% to last close at $6.830 on 23 October 2018.

Disclaimer

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK