Transurban Group Ltd. · ASX:TCL
Transurban — Investor Presentation (November 2005)
24 slides from Transurban's investor presentation, November 2005
Slide 1: Growing Market, Growing Company, Growing Distributions
Growing Market Growing Company Growing Distributions November 2005
Slide 2: Disclaimer
Disclaimer The Transurban Group is a triple stapled security listed on the Australian Stock Exchange comprising Transurban Holdings Limited (ACN 098 143 429), Transurban Holdings Trust (ARSN 098 807 419) and Transurban Limited (ACN 098 143 410). The responsible entity of the Transurban Holdings Trus
Slide 3: Transurban Update
Transurban Update • Hills Motorway M2 bid completed – Integration underway • Annual results released • Early opening Westlink M7 announced • US opportunities develop • Debt Maturity lengthened – Rates fixed
Slide 4: Who is Transurban
Who is Transurban • Top ten road investor globally • Low risk diversified portfolio of Australia’s best toll road assets • Development group deriving additional value • Strong cash flow and substantial debt capacity CityLink M2 WM7 100% Ownership and 100% ownership 40% Ownership and Operations 100%
Slide 5: Melbourne CityLink
Melbourne CityLink FY05 result • Traffic Ï 4.6% • Revenue Ï 8% • CityLink operation costs Ð 6% – Customer service transaction cost Ð 14% • Operational cash flow Ï 14.7% Key facts • 22 km motorway • Concession until 2034 • Toll increases 4.5% or inflation Freeways CityLink
Slide 6: Transurban's Sydney Assets
Transurban’s Sydney Assets M2 • 100 per cent owned • 20 km motorway • Concession until 2042 • Toll increases at greater of 4.06% or inflation M7 • 40 per cent owned • 40 km motorway • Concession until 2037 • CPI toll increases Westlink M7 & Hills M2 Freeways Existing Motorways Committed Motorways Pl
Slide 7: Hills M2
Hills M2 FY05 result • Traffic Ï 3.8% • Revenue Ï 6.6% • Toll revenue $88.8m
Slide 8: Hills M2 synergies & improvements
Hills M2 synergies & improvements • $5 - $6 million synergies and cost savings – $500k insurance – $1.5m listing / public company fees – Reduced spending on non-contracted Operations • Express lanes – RTA approved
Slide 9: Westlink M7 – construction, tolling, traffic
Westlink M7 – construction, tolling, traffic Construction well advanced • 8 months ahead of schedule • Completion due December 2005 Tolling systems approved • “Roam” user friendly tolling services – launched • $50 M7 toll credits Strong development • Industrial growth continues at a pace • Residenti
Slide 10: Estimate of Privately Financed Infrastructure Worldwide
Estimate of Privately Financed Infrastructure Worldwide to 2015 US$B 470 184 162 82 42 100% 8 6 12 1 1 14 19 7 11 Airports 75% 14 45 Seaport 61 45 Rail 37 50% Road 38 Source: Public Works financing, 25% 46 36 38 28 32 McKinsey 0% World-Wide Asia-Pacific Europe North America South America
Slide 11: North America – Budget surplus / (deficit) and traffic congestion costs
North America – Budget surplus / (deficit) – Traffic congestion costs Budget surplus / (deficit) forecast Source: Centre on Budget and 0 2005 (annual) Policy Priorities, Feb. 2004 -2 Vg Tx NJ Cal Fl -4 -6 -8 -10 -12 -14 -16 Traffic congestion 25 and The Road Information Program Source: Texas Transpo
Slide 12: Virginia, USA
Virginia, USA uexseuto eo Dulles Toll Road - a el a emia oor WASHINGTON D.C._—'50\9 = oh © wie Capital Beltway areenron (293 % (301) Sir oe hi (175 IRC 2 oc) ‘aera | iw) Interstate C3 Federat % ~ 5 e/, bt he \ owt RICHMOND: = ork feo, transurban
Slide 13: Pocahontas Parkway (Virginia USA)
Pocahontas Parkway (Virginia USA) • Existing Motorway • Exclusive right to purchase until Dec 2005
Slide 14: Capital Beltway (Virginia, USA)
Capital Beltway (Virginia, USA)
Slide 15: Capital Beltway "Hot" Lane project
Capital Beltway “Hot” Lane project • Preferred proponent • 14 miles (22.5 kms) of “Hot” lanes • Financial Close expected late 2006 Proposed Capital Beltway HOT-Lane 4-2-2-4 Section and Photos of Similar SR91 HOT-Lanes in operation
Slide 16: I-95 "Hot" Lane project (Virginia, USA)
I-95 “Hot” Lane project (Virginia, USA) • Preferred proponent • 56 miles (100 kms) of “Hot” lanes • Financial Close expected mid / late 2007
Slide 17: Other US opportunities
Other US opportunities Virginia • Dulles Toll Road – Existing 14 mile (22kms) toll road links Capital Beltway to Dulles International airport Texas • SH 820/IH183A, Dallas – HOT lane project – one of four shortlisted • 121, Dallas – Tollway under construction – one of four shortlisted • LBJ Tunnel,
Slide 18: Australian opportunities
Australian opportunities • Airport Link (Brisbane) • M4 East (Sydney) • F3 / M2 (Sydney) • Pacific Highway (NSW)
Slide 19: Interest Rate Hedging
Interest Rate Hedging • Low debt rates locked in • 85% of debt fixed at an average 6.5% to 2010 • Average maturity extended to 8.8 years • A- S&P rating maintained • Distribution forecasts – 50 cents FY2005 – 54 cents RY2006 • Current yield 7.7%
Slide 20: The Transurban picture
The Transurban picture • Strong distribution growth • Strong financial position • Successful value adding assets • Development of core skills & people • Emerging opportunities in USA
Slide 21: roan
roan transul
Slide 22: Pocahontas Parkway (Virginia, USA)
Pocahontas Parkway (Virginia, USA)
Slide 23: I-95 (Virginia, USA)
I-95 (Virginia, USA LEESBURG | por i. » Ss) gp Ge Washington-Dulles © £50 International a Airport A (175 = WARRRENTON 7 195 HOT VIRGINIAN
Slide 24: Capital Beltway (Virginia, USA)
Capital Beltway (Virginia, USA)
Transurban Group — Investor Presentation (November 2005) on 6ix