Aurizon Holdings Ltd. · ASX:AZJ
Aurizon — FY2021 Earnings Presentation
77 slides from Aurizon's earnings presentation, Aug 9, 2021
Slide 1: FY2021 Results
FY2021 Results 9 August 2021
Slide 2: Disclaimer
FY2021 RESULTS Disclaimer NO RELIANCE ON THIS DOCUMENT NO OFFER OF SECURITIES This document was prepared by Aurizon Holdings Limited (ACN 146 335 622) (referred to as Nothing in this presentation should be construed as a recommendation of or an offer to sell or “Aurizon” which includes its related b
Slide 3: Safety performance
FY2021 RESULTS Safety performance Results have been flat across the safety metrics TOTAL RECORDABLE INJURY FREQUENCY RAIL PROCESS SAFETY (RPS) LOST TIME INJURY FREQUENCY RATE RATE (TRIFR) (LTIFR) Incidents per million Incidents per million train Incidents per million person-hours worked kilometres t
Slide 4: Performance overview
Performance overview Andrew Harding Managing Director & CEO
Slide 5: Investor Day recap – focus of each business
FY2021 RESULTS PERFORMANCE OVERVIEW Investor Day recap – focus of each business Resilient Network and Coal business supporting Bulk growth and shareholder returns COAL BULK NETWORK › Continue transformation and › Growing markets and new › Embed UT5 for regulatory productivity push adjacencies certai
Slide 6: Investor Day recap – strategic aim
FY2021 RESULTS PERFORMANCE OVERVIEW Investor Day recap – strategic aim Resilient Network and Coal business supporting Bulk growth and shareholder returns Resilient coal and Growing bulk business Evolving mix reduces network businesses with new markets thermal coal exposure Safety, cost, productivity
Slide 7: FY2021 highlights
FY2021 RESULTS PERFORMANCE OVERVIEW FY2021 highlights1 Solid EBIT result. Final dividend of 14.4 cents per share, up 5% EBITDA & EBIT STATUTORY NPAT2 ROIC FREE CASHFLOW3 $1,482m up 1% $607m 10.7% $734m $903m - down 0.2ppts up 1% down 1% ABOVE RAIL COAL BULK: ABOVE RAIL FINAL DIVIDEND CAPITAL MANAGEM
Slide 8: Commodity Market update
FY2021 RESULTS PERFORMANCE OVERVIEW Commodity Market update Despite challenges with export volume to China, Australian coal has successfully been redirected into alternative markets. Expanding Asian markets support other bulk commodities demand CRUDE STEEL PRODUCTION: KEY NATIONS1 ASIA: PURCHASING M
Slide 9: Coal update
FY2021 RESULTS PERFORMANCE OVERVIEW Coal update Haulage volumes expected to grow in FY2022, increasing contract utilisation. Operational efficiencies mitigate contract rate pressures CUSTOMER UPDATE OPERATIONAL EFFICIENCIES › Contracts: › Short-term initiatives when demand is lower: accelerate annua
Slide 10: Bulk update
FY2021 RESULTS PERFORMANCE OVERVIEW Bulk update Strong performance continues with EBITDA up 27% from higher volumes CUSTOMER UPDATE BULK SHARE OF ABOVE RAIL REVENUE2 & EBIT › CBH – Ten-year grain haulage contract commencing August 2021 40% › South32 Worsley – Three-year contract extension for alumin
Slide 11: Network update
FY2021 RESULTS PERFORMANCE OVERVIEW Network update Protection mechanisms result in relatively stable revenue despite volume volatility. WIRP fees commenced during the period NETWORK: ACCESS REVENUE AND VOLUME WIGGINS ISLAND RAIL PROJECT (WIRP) FY2017-FY2021 › WIRP fees of $60m recognised including $
Slide 12: Other matters
FY2021 RESULTS PERFORMANCE OVERVIEW Other matters Sale of Acacia Ridge completed during the year. Other major items continue to progress WIGGINS ISLAND RAIL PROJECT › 1 September 2020: Customers' appeal relating to payment of non-regulated WIRP fee dismissed by Queensland Court of (WIRP) Appeal › 18
Slide 13: FY2021 Financial Performance
FY2021 Financial Performance George Lippiatt CFO & Group Executive Strategy
Slide 14: Key financial highlights
FY2021 RESULTS FINANCIAL PERFORMANCE Key financial highlights1 EBITDA performance driven by Bulk (volume growth) and Network (WIRP fees) $m FY2021 FY2020 Variance › Revenue decline due to volume driven Revenue 3,019 3,065 (1%) reductions in Coal partially offset by continued Operating Costs (1,537)
Slide 15: Coal
FY2021 RESULTS FINANCIAL PERFORMANCE Coal Volume and pricing decline contribute to reduction in EBITDA Revenue $m FY2021 FY2020 Variance › Volumes lower due to COVID related coal demand in addition to a Above rail 1,164 1,260 (8%) challenging China trade environment, end of contracts, a ramp down of
Slide 16: Bulk
FY2021 RESULTS FINANCIAL PERFORMANCE Bulk Strong EBITDA growth continues through additional volumes and services Revenue $m FY2021 FY2020 Variance › Revenue higher through new contract and services growth and improved Revenue 635 609 4% revenue quality › Revenue net of access up 10% Access costs (85
Slide 17: Network
FY2021 RESULTS FINANCIAL PERFORMANCE Network EBITDA growth from commencement of WIRP fees offsetting lower volumes Revenue $m FY2021 FY2020 Variance › Track access higher with WIRP fees, favourable revenue cap movements Track Access1 1,179 1,132 4% and Take-or-Pay more than offsetting volume driven
Slide 18: Free Cash Flow and capex
FY2021 RESULTS FINANCIAL PERFORMANCE Free Cash Flow and capex Stable free cash flow has been maintained despite lower volumes FREE CASH FLOW 1 ($M) | COAL VOLUME › Capital expenditure for FY2021 was below guidance Cash Flow Coal Volume mainly attributable to Network Asset Renewal $1,500m 250mt › Non
Slide 19: Cashflow
FY2021 RESULTS FINANCIAL PERFORMANCE Cashflow Stable cash flows have provided certainty on distributions with strong balance sheet providing optionality for capital management or growth FREE CASH FLOW 1 AND DIVIDENDS PAID2 ($M) AVERAGE PER YEAR3 $800m 734 720 725 OPERATING CASH FLOWS4 $1.1b 699 634
Slide 20: Funding update
FY2021 RESULTS FINANCIAL PERFORMANCE Funding update With resilient Free Cash Flow, Aurizon’s credit profile is strong and debt markets remain supportive FY2021 FUNDING ACTIVITY KEY DEBT METRICS FY2021 FY2020 Aurizon Network Weighted average maturity2 4.4 years 3.8 years › Issued 10-year, $500m AMTN1
Slide 21: Outlook & Key Takeaways
Outlook & Key Takeaways Andrew Harding Managing Director & CEO
Slide 22: FY2022 outlook
FY2021 RESULTS OUTLOOK & KEY TAKEAWAYS FY2022 outlook Given the focus on free cash flow, guidance shifting to EBITDA and capex. Bulk’s share of earnings to increase, improving diversification Group EBITDA guidance $1,425m – $1,500m and sustaining capex $475m - $525m KEY ASSUMPTIONS › Coal ‒ ~5% volu
Slide 23: Our value creation record
FY2021 RESULTS OUTLOOK & KEY TAKEAWAYS Our value creation record Despite changed external environment, Aurizon's cashflows remain stable and the focus on transformation continues HIGHLIGHTS STRONG HISTORY OF SHAREHOLDER RETURNS1 ✓ Negotiated and executed UT5 $5.0b ✓ De-risked the Coal contract book
Slide 24: 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 24
Slide 25: Additional Information: ESG
Additional Information: ESG
Slide 26: Our ESG contribution
FY2021 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 LEAD THROUGH AND COMMUNITIES… TRANSPARENT GOVERNANCE › Climate Strategy and Action Plan › Updated safety strategy
Slide 27: Climate Strategy and Action Plan
FY2021 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 decarb
Slide 28: Climate Strategy and Action Plan
FY2021 RESULTS ADDITIONAL INFORMATION Climate Strategy and Action Plan The majority of our emissions are associated with the consumption of energy (fuel and electricity) in the day-to-day operation of our locomotive fleet AURIZON’S GREENHOUSE GAS PROFILE AURIZON’S LOCOMOTIVE EMISSIONS INTENSITY PERF
Slide 29: Australian Export Demand - Commodities
FY2021 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 › Metallurg
Slide 30: Global & Australia Coal Summary
FY2021 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 FY2021 Export Revenue3 Production1 2020 Coal Production1 2020 FY2021 million tonnes 31% 86%
Slide 31: Metallurgical coal market
FY2021 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) PE
Slide 32: Thermal coal market
FY2021 RESULTS ADDITIONAL INFORMATION Thermal coal market From a share of just 34% in 1990, Asia currently comprises over 86% of the import market. In FY2021, 97% of Australian thermal coal export volume was destined for this region1 ASIA: THERMAL (STEAM) COAL IMPORT VOLUME | SHARE OF GLOBAL THERMAL
Slide 33: Metallurgical Coal & Thermal Coal Market | Australia
FY2021 RESULTS ADDITIONAL INFORMATION Metallurgical Coal & Thermal Coal Market | Australia In addition to its geographic proximity to Asia, Australia’s coal competitiveness is driven by cost and coal quality characteristics METALLURGICAL COAL CASH COSTS (US$/T CFR INDIA, 2021)1 THERMAL COAL CASH COS
Slide 34: Bulk markets
FY2021 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 sup
Slide 35: Additional Information: Group
Additional Information: Group
Slide 36: Overview of Aurizon's operations
FY2021 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 Netw
Slide 37: Purpose, Vision, Values and Strategic Levers
FY2021 RESULTS ADDITIONAL INFORMATION Purpose, Vision, Values and Strategic Levers 37
Slide 38: Quarterly tonnes: June 2021
FY2021 RESULTS ADDITIONAL INFORMATION Quarterly tonnes: June 2021 Quarter Ending Financial Year Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Variance1 FY2021 FY2020 Variance1 Coal volumes (mt) CQCN 38.8 34.7 36.5 35.5 37.0 (5%) 143.7 150.1 (4%) NSW & SEQ 17.0 15.3 15.3 13.0 14.7 (14%) 58.4 63.8 (8%) Total 55.
Slide 39: Enterprise Agreements
FY2021 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 Services1 45 3 1 Nov 2021 2.5% 2.5% 2.5% Bargaining NSW Coal 320 3 10 Nov 2021 2.5% 2.5% 2.5% Bargain
Slide 40: Prioritisation of capital
FY2021 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 oppo
Slide 41: Financial highlights (underlying)
FY2021 RESULTS ADDITIONAL INFORMATION Financial highlights1 (underlying) $m FY2021 FY2020 Variance Revenue 3,019.3 3,064.6 (1%) Operating Costs (1,537.1) (1,597.0) (4%) EBITDA 1,482.2 1,467.6 1% EBIT 903.1 909.0 (1%) NPAT 533.2 531.3 - EPS (cps) 28.5 27.2 5% Final dividend per share 14.4 13.7 5% ROI
Slide 42: Underlying group EBITDA bridge
FY2021 RESULTS ADDITIONAL INFORMATION Underlying group EBITDA bridge1 ($m) 1,482 1,468 17 51 83 30 FY2020 Coal Bulk Network Other FY2021 1. Continuing operations 42 Note: Due to rounding, the sum of components may not equal the corresponding total
Slide 43: Underlying EBITDA by business unit
FY2021 RESULTS ADDITIONAL INFORMATION Underlying EBITDA1 by business unit ($m) FY2021 FY2020 Variance Coal 533.3 616.4 (13%) Bulk 139.9 110.1 27% Network 848.8 798.1 6% Other (39.8) (57.0) 30% EBITDA 1,482.2 1,467.6 1% 43 1. Continuing operations
Slide 44: Balance sheet summary
FY2021 RESULTS ADDITIONAL INFORMATION Balance sheet summary ($m) 30 June 2021 30 June 2020 Assets classified as held for sale 5.0 65.1 Other current assets 806.9 650.2 Total current assets 811.9 715.3 Property, plant and equipment (PP&E) 8,432.2 8,537.1 Other non-current assets 469.5 519.6 Total non
Slide 45: Reconciliation of borrowings
FY2021 RESULTS ADDITIONAL INFORMATION Reconciliation of borrowings $m Commentary Total debt including working capital facility 3,609.9 Borrowings on a cash basis Reconciliation to Financial Statements Add/(less): Capitalised transaction costs (11.4) Discounts on medium term notes capitalised to the
Slide 46: Significant adjustments
FY2021 RESULTS ADDITIONAL INFORMATION Significant adjustments ($m) FY2021 FY2020 Continuing operations – Net gain on sale of shares in Aquila (before tax) 8.2 - Continuing operations – Net gain on sale of Rail Grinding (before tax) - 105.4 Significant adjustments from continuing operations, net of t
Slide 47: Redundancy cost information
FY2021 RESULTS ADDITIONAL INFORMATION Redundancy cost information › Redundancy costs are classified as a significant item Year Redundancy costs included Redundancy costs classified and included in underlying EBIT when the amounts are in underlying EBIT ($m) as Significant items ($m) considered mater
Slide 48: Dividend history
FY2021 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 10.
Slide 49: Additional Information: Coal
Additional Information: Coal
Slide 50: Coal Operations
FY2021 RESULTS ADDITIONAL INFORMATION Coal Operations 50
Slide 51: Coal operating metrics
FY2021 RESULTS ADDITIONAL INFORMATION Coal operating metrics FY2021 FY2020 Variance Total tonnes hauled (m) 202.1 213.9 (6%) Contract utilisation 83% 86% (3ppt) Total NTK (bn) 47.1 50.0 (6%) Average haul length (km) 233 234 - Total revenue / NTK ($/’000 NTK) 34.2 35.5 (4%) Above Rail Revenue / NTK (
Slide 52: Coal haulage tonnes (mt) by system
FY2021 RESULTS ADDITIONAL INFORMATION Coal haulage tonnes (mt) by system FY2021 FY2020 Variance CQCN Newlands 18.2 20.8 (13%) Goonyella 60.3 59.9 1% Blackwater 52.3 55.6 (6%) Moura 12.9 13.8 (7%) Total CQCN 143.7 150.1 (4%) NSW & SEQ West Moreton 4.1 5.5 (25%) Hunter Valley 54.3 58.3 (7%) Total NSW
Slide 53: Coal contract portfolio
FY2021 RESULTS ADDITIONAL INFORMATION Coal contract portfolio Coal has a secure, long dated contract book, as demonstrated by contract wins announced today AURIZON COAL CONTRACT VOLUME EXPIRY BY YEAR1 COAL CONTRACT PORTFOLIO EXPIRY1 AS AT 30 JUNE 2021 AS AT 30 JUNE 2021 75 6% 0-3 years 60 48% 3-7 ye
Slide 54: Additional Information: Bulk
Additional Information: Bulk
Slide 55: Bulk operations: Queensland
FY2021 RESULTS ADDITIONAL INFORMATION Bulk operations: Queensland 55
Slide 56: Bulk operations: New South Wales, Victoria and South Australia
FY2021 RESULTS ADDITIONAL INFORMATION Bulk operations: New South Wales, Victoria and South Australia 56
Slide 57: Bulk operations: Western Australia
FY2021 RESULTS ADDITIONAL INFORMATION Bulk operations: Western Australia 57
Slide 58: Aurizon Port Services
FY2021 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 opera
Slide 59: Bulk – Australia Capital & Exploration Expenditure
FY2021 RESULTS ADDITIONAL INFORMATION Bulk – Australia Capital & Exploration Expenditure CAPITAL EXPENDITURE: METAL ORE MINING1 EXPLORATION EXPENDITURE: IRON ORE A$150m A$6.0b +22% +37% A$100m A$4.0b A$2.0b A$50m A$0.0b A$0m Mar- Sep- Mar- Sep- Mar- Sep- Mar- Sep- Mar- Mar- Sep- Mar- Sep- Mar- Sep-
Slide 60: Additional Information: Network
Additional Information: Network
Slide 61: Network Operations
FY2021 RESULTS ADDITIONAL INFORMATION Network Operations 61
Slide 62: Network financial and operating metrics
FY2021 RESULTS ADDITIONAL INFORMATION Network financial and operating metrics $m FY2021 FY2020 Variance Tonnes (m) 208.3 226.9 (8%) NTK (bn) 52.4 56.2 (7%) Operating Ratio 58.4% 60.6% 2.2ppt Maintenance/NTK ($/’000 NTK) 2.4 2.3 (4%) Opex/NTK ($/’000 NTK) 13.7 12.8 (7%) Cycle Velocity (km/hr) 23.0 23
Slide 63: Network volumes: All rail operators
FY2021 RESULTS ADDITIONAL INFORMATION Network volumes: All rail operators FY2021 FY2020 Variance Newlands 10.7 14.1 (24%) Goonyella 103.4 117.7 (12%) Blackwater 61.5 62.6 (2%) Moura 12.7 13.6 (6%) GAPE 20.0 18.8 6% Total (mt) 208.3 226.9 (8%) 63 Note: Due to rounding, the sum of components may not e
Slide 64: Network – FY2021 Access Revenue movement
FY2021 RESULTS ADDITIONAL INFORMATION Network – FY2021 Access Revenue movement $m $m Decrease in MAR from FY2020 to FY2021 (3.9) Volume under-recovery for FY2021 (including Take-or-Pay) (34.6) Volume under-recovery for FY2020 (reversal of FY2020 impact) 22.6 GAPE revenue (0.8) Revenue Cap Movements:
Slide 65: Network adjusted MAR bridge – Approved UT5 Undertaking
FY2021 RESULTS ADDITIONAL INFORMATION Network adjusted MAR bridge – Approved UT5 Undertaking INDICATIVE NETWORK ADJUSTED MAXIMUM ALLOWABLE REVENUE (MAR)^ FY2019 – FY2023 ($M) 7 ~959 18 5 7 11 5 27 27 13 ~935 2 35 35 23 13 ~914 ~911 ~77 869 12 23 60 45 FY19 FY19 FY20 FY17 FY2018 MAR FY18 & FY20 FY20
Slide 66: Network revenue adjustment amounts (revenue cap)
FY2021 RESULTS ADDITIONAL INFORMATION Network revenue adjustment amounts (revenue cap) › Revenue adjustment amounts (RAA) are the AT2-4 AT5 Total difference by system between Aurizon’s Total Financial Year (diesel tariff) (electric tariff) Actual AT2-5 Revenue and Allowable AT2-5 $m $m $m Revenue ›
Slide 67: Reconciliation of billed MAR to reported access revenue
FY2021 RESULTS ADDITIONAL INFORMATION Reconciliation of billed MAR to reported access revenue FY2021 FY2020 FY2019 $m Actual Actual Actual Billed Access Revenue (AT1 to AT5) (ex. GAPE) 911 927 885 Approved Adjustments to MAR Revenue Cap (ex. GAPE and inclusive of capitalised interest)1 - (13) 44 UT5
Slide 68: UT5 Undertaking
FY2021 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 September 2021 1 July 2023 30 June 2027 1 July 2017 Initial Date Report Date1 Reset Date Termi
Slide 69: UT5 Undertaking: Revenue Protection Mechanisms
FY2021 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) an
Slide 70: UT5 Undertaking: Regulatory Asset Base (RAB)
FY2021 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 additi
Slide 71: UT5 Undertaking: Building Blocks
FY2021 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 Report Date (expected September 2021 quarter) › 6.30% from Report Date to 30 June 2023 › WACC reset at 1 July 2023 (r
Slide 72: UT5 Undertaking: Rebate Mechanism
FY2021 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 tar
Slide 73: Independent Expert
FY2021 RESULTS ADDITIONAL INFORMATION Independent Expert The Independent Expert, Coal Network Capacity Co Pty Ltd, is progressing development of the Initial Capacity Assessment Report (ICAR) and remaining obligations Activity Progress Notes › Incorporation of Coal Network Capacity Co Pty Ltd Compl
Slide 74: Additional Information: Capital Expenditure
Additional Information: Capital Expenditure
Slide 75: FY2021 group and business unit capital expenditure ($m)
FY2021 RESULTS ADDITIONAL INFORMATION FY2021 group and business unit capital expenditure ($m) 490 446 259 143 257 123 73 51 44 3 12 2 20 22 FY20211,2 Network1,2 Coal1 Bulk2 Intermodal Corporate Non-Growth Growth 1. Includes capitalised interest 75 2. Net of externally funded payments
Slide 76: Glossary
FY2021 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 Footplat
Slide 77: 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 77