Aurizon Holdings Ltd. · ASX:AZJ
Aurizon — H1 2022 Earnings Presentation
76 slides from Aurizon's earnings presentation, Feb 14, 2022
Slide 1: 1HFY2022 Results
1HFY2022 Results 14 February 2022
Slide 2: Disclaimer
1HFY2022 RESULTS Disclaimer NO RELIANCE ON THIS DOCUMENT INFORMATION ON ONE RAIL AND EAST COAST RAIL This document was prepared by Aurizon Holdings Limited (ACN 146 335 622) (referred to as “Aurizon” which includes its related The information on One Rail and East Coast Rail (and their related entiti
Slide 3: Safety performance
1HFY2022 RESULTS Safety performance TRIFR, LTIFR and RPS all improved. Introduction of new measure (SIFRa+p) to better represent business activities and enhance focus on incidents that have the potential for serious injury TOTAL RECORDABLE INJURY FREQUENCY RATE (TRIFR)1 AND LOST RAIL PROCESS SAFETY
Slide 4: COVID-19: Update
1HFY2022 RESULTS COVID-19: Update Limited operational impact to date with strict protocols still in place › Strict protocols in place since mid-2020 to protect our people › Limited direct impact to our business during the half, although border closures have created some challenges › Crisis Managemen
Slide 5: Performance overview
Performance overview Andrew Harding Managing Director & CEO Picture: Grain haul in Goondiwindi, South East Queensland
Slide 6: 1HFY2022 Results
1HFY2022 RESULTS PERFORMANCE OVERVIEW 1HFY2022 Results1 Resilient results despite lower volumes and Bulk costs increasing ahead of contracted growth. Dividend reduction in advance of One Rail acquisition EBITDA STATUTORY NPAT ROIC $727m $257m 10.4% down 1% down 4% down 0.4ppts FREE CASHFLOW BULK: RE
Slide 7: Commodity markets update
1HFY2022 RESULTS PERFORMANCE OVERVIEW Commodity markets update Record global crude steel production in CY2021. Record Australian grain export volume forecast for 2021-22 season GLOBAL CRUDE STEEL PRODUCTION1 AUSTRALIAN GRAIN EXPORTS3 Billion tonnes (Annual) Major crops (By marketing year) +4% 2.0bt
Slide 8: Business Unit highlights
1HFY2022 RESULTS PERFORMANCE OVERVIEW Business Unit highlights COAL BULK NETWORK Increased earnings despite lower demand for Contribution of new business (grain and port Reduced earnings due to recognition of historical services (wet weather) in addition to derailments and services) offset by associ
Slide 9: Increased grain haulage
1HFY2022 RESULTS PERFORMANCE OVERVIEW Increased grain haulage The CBH contract will result in Aurizon becoming the largest grain hauler in Australia. The One Rail acquisition will result in haulage across the two most stable (by volume) export states SELECTED GRAIN EXPORT VOLUME1 AURIZON GRAIN HAULA
Slide 10: One Rail acquisition
1HFY2022 RESULTS PERFORMANCE OVERVIEW One Rail acquisition Acquisition with potential to materially grow Bulk earnings; East Coast Rail business to be divested On 22 October 2021, Aurizon announced the acquisition of One Rail for $2.35 billion. There are BULK: INDICATIVE EBITDA | SHARE OF REVENUE1 (
Slide 11: One Rail Bulk
1HFY2022 RESULTS PERFORMANCE OVERVIEW One Rail Bulk An integrated rail business with 2,460km of track infrastructure1 exposed to commodities with strong demand drivers in central Australia Commodity South Australia and Northern Territory Exposure Existing Customers8 ⚫⚫⚫⚫⚫ Darwin › GRA (CSR/Knauf) La
Slide 12: One Rail Bulk highlights
1HFY2022 RESULTS PERFORMANCE OVERVIEW One Rail Bulk highlights Acquisition predicated on a business with a near-term target of ~$100m EBITDA to subsequently build upon INTEGRATION ONE RAIL BULK: UNDERLYING EBITDA (A$m)1 ✓ Delivery of Aurizon Bulk turnaround increases confidence in successful integra
Slide 13: Financial Performance
Financial Performance George Lippiatt CFO & Group Executive Strategy Picture: Cloncurry depot, North-West Queensland
Slide 14: Key financial results
1HFY2022 RESULTS FINANCIAL PERFORMANCE Key financial results1 Results reflect lower WIRP fees (non-recurring WIRP fee of $49m in 1HFY2021) and increased costs in Bulk to support growth. Strong free cash flow generation $m 1HFY2022 1HFY2021 Variance 2HFY2021 › Group revenue higher despite the recogni
Slide 15: Coal
1HFY2022 RESULTS FINANCIAL PERFORMANCE Coal Earnings higher despite lower volumes with positive customer mix and strong cost management Revenue $m 1HFY2022 1HFY2021 Variance 2HFY2021 › Volumes lower due to wet weather, derailments and protestor activity in addition to the ramp down of New Acland min
Slide 16: Bulk
1HFY2022 RESULTS FINANCIAL PERFORMANCE Bulk Contribution of new business (grain and port services) offset by lower iron ore and nickel volumes Revenue $m 1HFY2022 1HFY2021 Variance 2HFY2021 › Revenue increased primarily due to the commencement of the CBH (grain) contract in addition to the contribut
Slide 17: Network
1HFY2022 RESULTS FINANCIAL PERFORMANCE Network Reduced earnings due to recognition of historical WIRP fees in prior period Revenue $m 1HFY2022 1HFY2021 Variance 2HFY2021 › WIRP fees lower with $49m historical fees recognised in prior period Track Access 543 569 (5%) 610 › EBITDA growth of 6% when re
Slide 18: Free Cash Flow and capex
1HFY2022 RESULTS FINANCIAL PERFORMANCE Free Cash Flow and capex Strong free cash flow generation continues. Group capex guidance of $540m – $580m inclusive of ~$100m supporting new Bulk contracts FREE CASH FLOW 1 ($M) CAPITAL EXPENDITURE2 ($M) 465 ~540- 580 532 527 Sale of 490 495 490 Rail Grindin
Slide 19: Funding update
1HFY2022 RESULTS FINANCIAL PERFORMANCE Funding update Credit profile improved with ratings agencies lowering thresholds post One Rail announcement. Debt markets supportive with successful syndication commitments 1HFY2022 FUNDING ACTIVITY KEY DEBT METRICS1 1HFY2022 1HFY2021 One Rail acquisition Weigh
Slide 20: One Rail transaction update
1HFY2022 RESULTS FINANCIAL PERFORMANCE One Rail transaction update Completion targeted for ~April followed by East Coast Rail divestment › ACCC has commenced informal merger clearance process 1 Australian Competition and Consumer Commission (ACCC) › Market inquiries process underway, including submi
Slide 21: East Coast Rail
1HFY2022 RESULTS FINANCIAL PERFORMANCE East Coast Rail A highly cash generative business EXCLUSIVE HUNTER VALLEY HAULAGE RIGHTS REVENUE (A$m)1 227 190 CY2021 Results ✓ Long-term rail haulage contract with Glencore to 2036 184 Consistent with other operators ✓ Minimum guaranteed volumes to 2034 with
Slide 22: Outlook & Key Takeaways
Outlook & Key Takeaways Andrew Harding Managing Director & CEO Picture: Coal haul in Hunter Valley, New South Wales. Locomotive features indigenous artwork unveiled at NAIDOC week 2020
Slide 23: FY2022 outlook
1HFY2022 RESULTS OUTLOOK & KEY TAKEAWAYS FY2022 outlook EBITDA guidance range unchanged despite lower coal haulage volumes expectations Group EBITDA guidance remains $1,425m – $1,500m Group capex guidance $540m – $580m including ~$100m supporting Bulk growth KEY ASSUMPTIONS › Coal ‒ volumes now expe
Slide 24: Aurizon's value creation record
1HFY2022 RESULTS OUTLOOK & KEY TAKEAWAYS Aurizon’s value creation record Cashflows remain stable and the focus on transformation continues HIGHLIGHTS AURIZON: EBITDA (underlying) million dollars ✓ Negotiated and executed UT5 ✓ De-risked the Coal contract book 789 744 731 736 738 744 722 727 ✓ Execut
Slide 25: Investor Relations contacts
Chris Vagg James Coe Head of Investor Relations & Group Treasurer Manager Market Intelligence & Investor Relations +61 7 3019 9030 +61 7 3019 7526 Chris.Vagg@aurizon.com.au James.Coe@aurizon.com.au ASX: AZJ 25
Slide 26: Additional Information: Environmental, Social and Governance
Additional Information: Environmental, Social and Governance Picture: Aurizon Port Services Newcastle
Slide 27: Our ESG contribution
1HFY2022 RESULTS ADDITIONAL INFORMATION Our ESG1 contribution Aurizon continues to build a stronger and sustainable business NET-ZERO COMMITMENT BY 2050… …WHILE WE SUPPORT OUR REGIONS AND …AND LEAD THROUGH TRANSPARENT COMMUNITIES… GOVERNANCE › Climate Strategy and Action Plan released in › Updated s
Slide 28: Climate Strategy and Action Plan
1HFY2022 RESULTS ADDITIONAL INFORMATION Climate Strategy and Action Plan Aurizon is committed to a long-term target of net-zero operational emissions (scope 1 and 2) by 2050 Net-zero operational emissions by 2050 We will continue to assess and enhance our processes for Achieving our operational deca
Slide 29: Australian Export Demand - Commodities
1HFY2022 RESULTS ADDITIONAL INFORMATION Australian Export Demand - Commodities Australia export commodities are driven by steel-intensive growth and prolonged thermal electricity generation in Asia in addition to new economy markets and food consumption METALLURGICAL COAL THERMAL COAL BULK › Metallu
Slide 30: Global & Australia Coal Summary
1HFY2022 RESULTS ADDITIONAL INFORMATION Global & Australia Coal Summary Global Australia Thermal (Steam) Coal Metallurgical (Coking) Coal Production2 2020 Coal Export Volume3 Total Coal Export (By Destination)3 CY2021 Export Revenue3 Production1 2020 Coal Production1 2020 CY2021 million tonnes 31% 8
Slide 31: Metallurgical coal market
1HFY2022 RESULTS ADDITIONAL INFORMATION Metallurgical coal market Steel is an integral link to economic development. The metallurgical coal-dependent method of steel production commands almost three-quarters (1.4 billion tonnes) of global steel production APPARENT STEEL USE (CRUDE STEEL EQUIVALENT)
Slide 32: Thermal coal market
1HFY2022 RESULTS ADDITIONAL INFORMATION Thermal coal market From a share of just 34% in 1990, Asia currently comprises 86% of the import market. In CY2021, 96% of Australian thermal coal export volume was destined for this region1 ASIA: THERMAL (STEAM) COAL IMPORT VOLUME | SHARE OF GLOBAL THERMAL SO
Slide 33: Bulk markets
1HFY2022 RESULTS ADDITIONAL INFORMATION Bulk markets Demand growth for bulk commodities will be led by the transition to clean energy technologies and rising food consumption in developing nations MINERAL DEMAND FROM CLEAN ENERGY TECHNOLOGIES1 FOOD CONSUMPTION: CALORIES PER CAPITA2-3 30 4,000 Food s
Slide 34: Additional Information: Group
Additional Information: Group Picture: Stuart depot, Townsville
Slide 35: Overview of Aurizon's operations
1HFY2022 RESULTS ADDITIONAL INFORMATION Overview of Aurizon's operations Aurizon is Australia's largest rail-based transport business, with diversified, cross-commodity exposure through above and below rail services, and port terminals Below Rail Network ▪ Operation of the Central Queensland Coal Ne
Slide 36: Purpose, Vision, Values and Strategic Levers
1HFY2022 RESULTS ADDITIONAL INFORMATION Purpose, Vision, Values and Strategic Levers 36
Slide 37: Above Rail volumes
1HFY2022 RESULTS ADDITIONAL INFORMATION Above Rail volumes Quarter Ending Financial Year to date Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Variance1 1HFY2021 1HFY2022 Variance1 Coal volumes (mt) CQCN 36.5 35.5 37.0 36.9 33.4 (8%) 71.2 70.3 (1%) NSW & SEQ 15.3 13.0 14.7 14.5 13.9 (9%) 30.6 28.4 (7%) Total 5
Slide 38: Enterprise Agreements
1HFY2022 RESULTS ADDITIONAL INFORMATION Enterprise Agreements # Staff Headline Increases Term Enterprise Agreement Covered Expiry Date Status (years) (approx.) Year 1 Year 2 Year 3 Year 4 Aurizon Port Services 60 3 1 Nov 2021 2.50% 2.50% 2.50% Bargaining WA Rail Operations 450 4 30 June 2022 1.50% 2
Slide 39: Prioritisation of capital
1HFY2022 RESULTS ADDITIONAL INFORMATION Prioritisation of capital CAPITAL ALLOCATION HIERARCHY 1 2 3 4 DETERMINE AVAILABLE NON GROWTH CAPITAL DIVIDENDS SURPLUS CAPITAL CAPITAL › Ongoing operating cashflows › Sustaining and transformation › Within 70-100% payout ratio › Capital management projects op
Slide 40: Underlying group EBITDA bridge
1HFY2022 RESULTS ADDITIONAL INFORMATION Underlying group EBITDA bridge1 ($m) 1 12 738 27 727 3 1HFY2021 Coal Bulk Network Other 1HFY2022 1. Continuing operations 40 Note: Due to rounding, the sum of components may not equal the corresponding total
Slide 41: Underlying EBITDA by business unit
1HFY2022 RESULTS ADDITIONAL INFORMATION Underlying EBITDA1 by business unit ($m) 1HFY2022 1HFY2021 Variance 2HFY2021 Coal 286.2 274.1 4% 259.2 Bulk 74.5 73.6 1% 66.3 Network 380.4 407.7 (7%) 441.1 Other (14.2) (17.1) 17% (22.7) EBITDA 726.9 738.3 (2%) 743.9 41 1. Continuing operations
Slide 42: Balance sheet summary
1HFY2022 RESULTS ADDITIONAL INFORMATION Balance sheet summary ($m) 31 December 2021 30 June 2021 31 December 2020 Assets classified as held for sale 0.1 5.0 67.2 Other current assets 674.7 806.9 518.8 Total current assets 674.8 811.9 586.0 Property, plant and equipment (PP&E) 8,464.9 8,483.2 8,526.0
Slide 43: Reconciliation of borrowings
1HFY2022 RESULTS ADDITIONAL INFORMATION Reconciliation of borrowings $m Commentary Total debt including working capital facility 3,496.8 Borrowings on a cash basis Reconciliation to Financial Statements Add/(less): Capitalised transaction costs (9.1) Discounts on medium term notes capitalised to the
Slide 44: Significant adjustments
1HFY2022 RESULTS ADDITIONAL INFORMATION Significant adjustments ($m) 1HFY2022 1HFY2021 2HFY2021 Continuing operations – Net gain on sale of shares in Aquila (before tax)1 - - 8.2 44 1. Significant adjustments from continuing operations, net of tax is $73.5m
Slide 45: Redundancy cost information
1HFY2022 RESULTS ADDITIONAL INFORMATION Redundancy cost information Year Redundancy costs included Redundancy costs classified in underlying EBIT ($m) as Significant items ($m) FY2017 5 116 › Redundancy costs are presented for total Group (Continuing and Discontinued operations) FY2018 17 (10) FY201
Slide 46: Dividend history
1HFY2022 RESULTS ADDITIONAL INFORMATION Dividend history 35.0c 100% 90% 30.0c 28.8 27.1 27.4 80% 25.0c 24.6 24.0 23.8 70% Amount (Cents) Per Share 22.5 14.4 60% Payout Ratio1 20.0c 13.1 13.7 13.3 8.9 12.4 50% 16.5 13.9 15.0c 40% 12.3 8.5 10.0c 30% 8.3 8.2 13.6 14.0 13.7 14.4 20% 4.6 11.3 11.4 5.0c 1
Slide 47: Legal matters
1HFY2022 RESULTS ADDITIONAL INFORMATION Legal matters WIGGINS ISLAND RAIL PROJECT › Earlier Court of Appeal decision confirmed that ongoing WIRP fees are payable until August 2035, and WIRP fees have (WIRP) been billed to WIRP Customers accordingly › 18 December 2020: Aurizon commenced proceedings i
Slide 48: Additional Information: Coal
Additional Information: Coal Picture: Coal haul, Central Queensland Coal Network
Slide 49: Coal Operations
1HFY2022 RESULTS ADDITIONAL INFORMATION Coal Operations Note: Includes all mines in the CQCN 49
Slide 50: Coal Operations
1HFY2022 RESULTS ADDITIONAL INFORMATION Coal Operations SOUTH EAST QUEENSLAND / NEW SOUTH WALES 50
Slide 51: Coal operating metrics
1HFY2022 RESULTS ADDITIONAL INFORMATION Coal operating metrics 1HFY2022 1HFY2021 Variance 2HFY2021 Total tonnes hauled (m) 98.7 101.8 (3%) 100.3 Contract utilisation 83% 82% 1ppt 84% Total NTK (bn) 23.2 23.7 (2%) 23.4 Average haul length (km) 235 233 1% 233 Total revenue / NTK ($/’000 NTK) 34.3 34.4
Slide 52: Coal haulage tonnes (mt) by system
1HFY2022 RESULTS ADDITIONAL INFORMATION Coal haulage tonnes (mt) by system 1HFY2022 1HFY2021 Variance 2HFY2021 CQCN Newlands 9.3 9.1 2% 9.1 Goonyella 29.4 28.7 2% 31.6 Blackwater 24.8 26.6 (7%) 25.7 Moura 6.8 6.8 - 6.1 Total CQCN 70.3 71.2 (1%) 72.5 NSW & SEQ West Moreton 1.7 2.2 (23%) 1.9 Hunter Va
Slide 53: Coal contract portfolio
1HFY2022 RESULTS ADDITIONAL INFORMATION Coal contract portfolio AURIZON COAL CONTRACT VOLUME EXPIRY BY YEAR1 COAL CONTRACT PORTFOLIO EXPIRY1 AS AT 31 DECEMBER 2021 AS AT 31 DECEMBER 2021 75 7% 60 43% 0-3 years Million tonnes per annum (Mtpa) 3-7 years 50% 7+ years 45 FORECAST COAL CONTRACTED VOLUMES
Slide 54: Additional Information: Bulk
Additional Information: Bulk Picture: Port of Townsville
Slide 55: Bulk operations: Queensland
1HFY2022 RESULTS ADDITIONAL INFORMATION Bulk operations: Queensland 55
Slide 56: Bulk operations: New South Wales, Victoria and South Australia
1HFY2022 RESULTS ADDITIONAL INFORMATION Bulk operations: New South Wales, Victoria and South Australia 56
Slide 57: Bulk operations: Western Australia
1HFY2022 RESULTS ADDITIONAL INFORMATION Bulk operations: Western Australia 57
Slide 58: Aurizon Port Services
1HFY2022 RESULTS ADDITIONAL INFORMATION Aurizon Port Services Townsville Newcastle Infrastructure: Hardstand upgrade completed with capacity for 1,200 Simplicity: Simple operating and labour model that is scalable (currently containers (100% increase in capacity) and development of unique direct ope
Slide 59: Bulk – Australia Capital & Exploration Expenditure
1HFY2022 RESULTS ADDITIONAL INFORMATION Bulk – Australia Capital & Exploration Expenditure CAPITAL EXPENDITURE: METAL ORE MINING1 EXPLORATION EXPENDITURE: IRON ORE A$200m +57% A$6.0b +2% A$150m A$4.0b A$100m A$2.0b A$50m A$0.0b A$0m Sep- Mar- Sep- Mar- Sep- Mar- Sep- Mar- Sep- Sep- Mar- Sep- Mar- Se
Slide 60: Additional Information: Network
Additional Information: Network Picture: Callemondah rail yard, Gladstone (Central Queensland)
Slide 61: Network Operations
1HFY2022 RESULTS ADDITIONAL INFORMATION Network Operations 61
Slide 62: Network financial and operating metrics
1HFY2022 RESULTS ADDITIONAL INFORMATION Network financial and operating metrics $m 1HFY2022 1HFY2021 Variance 2HFY2021 Tonnes (m) 104.9 103.7 1% 104.5 NTK (bn) 26.4 26.0 2% 26.4 Operating Ratio 63.0% 59.3% 3.7ppt 57.6% Maintenance/NTK ($/’000 NTK) 2.4 2.3 (4%) 2.4 Opex/NTK ($/’000 NTK) 13.6 13.5 (1%
Slide 63: Network volumes: All rail operators
1HFY2022 RESULTS ADDITIONAL INFORMATION Network volumes: All rail operators 1HFY2022 1HFY2021 Variance 2HFY2021 Newlands 6.6 4.9 35% 5.8 Goonyella 53.5 51.3 4% 52.1 Blackwater 29.6 30.5 (3%) 30.9 Moura 6.7 6.8 (1%) 6.0 GAPE 8.6 10.3 (16%) 9.8 Total (mt) 104.9 103.7 1% 104.5 63 Note: Due to rounding,
Slide 64: Network 1HFY2022 Access Revenue movement
1HFY2022 RESULTS ADDITIONAL INFORMATION Network 1HFY2022 Access Revenue movement $m Decrease in MAR from 1HFY2021 to 1HFY2022 (8.1) Volume under-recovery for 1HFY2022 (28.4) Volume under-recovery for 1HFY2021 (reversal of 1HFY2021 impact) 65.7 GAPE revenue (11.6) FY2020 Revenue Cap amounts (recovery
Slide 65: Network adjusted MAR bridge – Approved UT5 Undertaking
1HFY2022 RESULTS ADDITIONAL INFORMATION Network adjusted MAR bridge – Approved UT5 Undertaking INDICATIVE NETWORK ADJUSTED MAXIMUM ALLOWABLE REVENUE (MAR)1 FY2020 – FY2023 ($M) 7 1 1 18 4 7 5 ~950 11 5 27 27 13 ~935 35 35 23 914 911 FY20 FY20 MAR FY18 & FY18 MAR FY21 MAR FY21 FY21 MAR FY20 MAR FY18
Slide 66: Network Revenue Adjustment Amounts (revenue cap)
1HFY2022 RESULTS ADDITIONAL INFORMATION Network Revenue Adjustment Amounts (revenue cap) › Revenue adjustment amounts (RAA) are the AT2-4 AT5 Total Total difference by system between Aurizon’s Total Financial Year (diesel tariff) (electric tariff) (inc-GAPE) (ex-GAPE) Actual AT2-5 Revenue and Allowa
Slide 67: Reconciliation of billed MAR to reported access revenue
1HFY2022 RESULTS ADDITIONAL INFORMATION Reconciliation of billed MAR to reported access revenue 1HFY2022 FY2021 FY2020 $m Actual Actual Actual Billed Access Revenue (AT1 to AT5) (ex. GAPE) 437 911 927 Approved Adjustments to MAR Revenue Cap (ex. GAPE and inclusive of capitalised interest)1 2 - (13)
Slide 68: UT5 Undertaking
1HFY2022 RESULTS ADDITIONAL INFORMATION UT5 Undertaking Aurizon Network’s access undertaking establishes the framework for access to the coal rail infrastructure in central Queensland UT5 TIMELINE 3 May 2019 12 November 2021 1 July 2023 30 June 2027 1 July 2017 Initial Date Report Date Reset Date Te
Slide 69: UT5 Undertaking: Revenue Protection Mechanisms
1HFY2022 RESULTS ADDITIONAL INFORMATION UT5 Undertaking Revenue Protection Mechanisms The Maximum Allowable Revenue (MAR) is the total revenue Aurizon INDICATIVE SYSTEM REVENUE PROTECTION MECHANISM Network is permitted to earn each year, determined in accordance with the Regulatory Asset Base (RAB)
Slide 70: UT5 Undertaking: Regulatory Asset Base
1HFY2022 RESULTS ADDITIONAL INFORMATION UT5 Undertaking Regulatory Asset Base (RAB) ELEMENT DETAIL Rollforward RAB › This represents the value of Network assets for regulatory purposes › Each year Network rolls forward the RAB adjusting for indexation, depreciation, disposals, transfers and the addi
Slide 71: UT5 Undertaking: Building Blocks
1HFY2022 RESULTS ADDITIONAL INFORMATION UT5 Undertaking Building Blocks BUILDING BLOCK DETAIL Return on capital (WACC) › 5.70% from 1 July 2017 to 2 May 2019 › 5.90% from 3 May 2019 to 12 November 2021 (Report Date) › 6.30% from Report Date to 30 June 2023 › WACC reset at 1 July 2023 (reset of risk
Slide 72: UT5 Undertaking: Rebate Mechanism
1HFY2022 RESULTS ADDITIONAL INFORMATION UT5 Undertaking Rebate Mechanism ELEMENT DETAIL Mechanism › A customer will be entitled to a rebate from Network where it has received less than its annual contracted capacity, as assessed by the Independent Expert, as a result of Network’s performance below t
Slide 73: Additional Information: Capital Expenditure
Additional Information: Capital Expenditure Picture: Coal haul, Central Queensland Coal Network
Slide 74: Group and business unit capital expenditure
1HFY2022 RESULTS ADDITIONAL INFORMATION 1HFY2022 group and business unit capital expenditure ($m) 255 211 142 142 61 46 17 44 46 44 0 6 1HFY20221,2 Network1,2 Coal1 Bulk Intermodal Corporate Non-Growth Growth 1. Includes capitalised interest 74 2. Net of externally funded payments
Slide 75: Glossary
1HFY2022 RESULTS ADDITIONAL INFORMATION Glossary Metric Description AFD Access Facilitation Deed Average haul length NTK/Total tonnes Contract utilisation Total volumes hauled as a percentage of total volumes contracted CQCN Central Queensland Coal Network ESG Environment, Social & Governance Footpl
Slide 76: Contact and further information
Contact and further information Chris Vagg James Coe Head of Investor Relations & Group Treasurer Manager Market Intelligence & Investor Relations +61 7 3019 9030 +61 7 3019 7526 Chris.Vagg@aurizon.com.au James.Coe@aurizon.com.au ASX: AZJ 76