Transurban posts profit of $3,272 for FY21

The company also noted a daily traffic decrease of 0.4%.

In a media statement, Transurban recorded a statutory profit of $3,272m for the financial year 2021.

The company attributed this to the decrease of average daily traffic from 0.4% compared to the financial year 2020. Despite this, the use of new assets performed above expectations, Transurban CEO Scott Charlton said.

“We saw a recovery trend in our overall traffic volumes throughout FY21, driven by Sydney and Brisbane traffic which largely rebounded to pre-COVID-19 levels. Melbourne and North America were more heavily affected during FY21, given the impacts of COVID-19 were most severe in those markets.”

The group also documented a $3,276m gain due to the sale of Transurban Cheasapeake assets.

Charlton credited this strong performance to their ongoing strategic process.

“Over the course of FY21 Transurban demonstrated the resilience of our business model, strengthened our balance sheet, and continued investing for long term growth. Together with our partners, we opened two of Australia’s longest tunnels – the M8 and NorthConnex.” 

Distribution of 36.5 per stapled security (cps), as well as a final distribution of 21.5 cps, was also stated for the first half of 2021.