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Highlights
- Atlas Arteria is an ASX-listed developer, owner, and operator of toll roads
- In 1HFY24, ALX’s revenue jumped 10% YoY to AUD 69.6 million
- Diamond Infraco 1 Pty. Ltd. has the maximum stake in the company with a shareholding of 25.87%
Atlas Arteria Limited (ASX:ALX) is an international developer, owner, and operator of toll roads. The company’s portfolio includes five toll roads in the United States, Germany, and France. The toll roads managed by ALX aim to benefit communities by reducing travel time, fuel consumption, and carbon emissions, while also offering greater time certainty.
In the first half of the financial year 2024 (1HFY24) ended 30 June 2024, the company recorded 10% YoY increase in group revenue to AUD 69.6 million, supported by increase in CPI-linked toll and capital management initiatives. The reported period witnessed 8% YoY surge in operating cash flow to AUD 43.7 million.
Net profit after tax in 1HFY24 fell by 16% YoY to AUD 114.2 million due to losses from Chicago Skyway, fall in equity profits from APRR and increase in centralised costs.
Top 10 Shareholders of ALX
The top 10 shareholders of ALX have approximately 53.95% of the total shareholding, while the top four have nearly 41.32% of the shareholding. Diamond Infraco 1 Pty. Ltd. has the highest stake in the group with a shareholding of around 25.87%, followed by Lazard Asset Management, L.L.C., with a shareholding of approximately 9.23%.
Recent Business Update
Through an ASX filing dated 19 September 2024, the company announced a dividend of 20 cents per stapled security for the six months ended 30 June 2024. This unfranked dividend will be distributed by Atlas Arteria and Atlas Arteria International Limited.
Outlook
The company has reaffirmed its distribution guidance for FY24 at 40 cents per share, while the cash usage is expected to decrease for distribution funding to 4-5 cps, down from previous guidance of 7-8 cps.
ALX’ focus is on capital management initiatives at APRR to boost free cash flow. Moreover, the company has plans to continue investments to enhance network safety and customer experience while undertaking sustainable cash flows, especially Dulles Greenway.
Share performance of ALX
ALX shares closed 3.63% lower at AUD 4.78 apiece on 19 September 2024. In the past one year, ALX’s share piece has declined by almost 19.12%, while in the past three months, it has dropped by around 4.40%.
52-week high of ALX is AUD 6.10, recorded on 21 September 2023, while 52-week low is AUD 4.68, recorded on 17 June 2024.
ALX Daily Technical Chart, Source: EODHD/Others
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, and currency, is 19 September 2024. The reference data in this report has been partly sourced from EODHD/Others.
Disclaimer
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