Earnings release
Page 1
26 August 2021 atlas Arteria ASX RELEASE Continued delivery against strategy and positive trends provide cautious optimism Atlas Arteria ( ASX : ALX ) today announced results for the half year ended 30 June 2021 and distribution guidance of 15.5 cents per security . Traffic in all jurisdictions was again influenced by lockdowns and movement restrictions , and bounced back upon restrictions easing Recovery strong in Europe as restrictions eased from May The steady recovery continued throughout the half at Dulles Greenway Weighted average traffic in H1 2021 was 17.5 % higher than H1 2020 and 19.5 % below H1 2019 Heavy vehicle traffic at APRR returned to trend and was only 1.0 % below H1 2019 One serious injury at APRR during the period Priority focus on embedding a safety first culture across the business Investing in technology to automate roadside tasks where possible and providing additional staff training Statutory net profit after tax of $ 71.0 million ( H1 2020 : loss of $ 123.0 million ) Excluding notable items as follows , a net profit after tax of $ 86.0 million ( H1 2020 : profit of $ 9.1 million ) : Removal of the fair value adjustment allocated to the legacy debt at Warnow Tunnel following the repayment of this facility as part of the capital restructure ( non - cash expense $ 49.9 million ) The capital restructure at Warnow Tunnel strengthened the probability of future taxable profits being available to utilise tax losses which resulted in the recognition of a $ 34.9 million deferred tax asset Over $ 250 million in capital expenditure delivered across all businesses during the period , enhancing the customer experience , increasing traffic flow and facilitating ESG outcomes Delivered against strategic objectives to build sustainable cashflows and long - term value for securityholders : Financial close of the capital restructure at Warnow Tunnel in March 2021 , diversifying Atlas Arteria's sources of cash flow , and with reduced leverage and increased likelihood of receiving cash flows significantly earlier in the life of the concession , substantially increases the value of the business At the Dulles Greenway , 5.3 % increase to off - peak tolls in 2021 and 5.0 % in 2022 granted by the Virginia State Corporation Commission ( SCC ) H1 2021 distribution guidance of 15.5 cents per security , reflecting underlying performance of both APRR and Warnow Tunnel during the half¹ Well placed to benefit from increased mobility and travel following high and growing vaccination levels in Europe and the US and the removal of strict COVID - 19 movement restrictions 1 The distribution remains subject to continued business performance , movements in foreign exchange rates , and other future events Atlas Arteria Limited ACN 141 075 201 Level 5 , 141 Flinders Lane , MELBOURNE 3000 Atlas Arteria International Limited EC43828 4th Floor , Cedar House , 41 Cedar Avenue Hamilton HM12 BERMUDA