Transurban Group (TCL) Q4 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

I would now like to hand the conference over to Craig Stafford, General Manager, Strategy and Investor Relations. Please go ahead. Good morning, everyone, and thank you for joining us for Transurban's 2026 full-year results briefing. Transurban acknowledges the traditional owners of the lands throughout Australia, and we pay respect to Elders past and present. We acknowledge our roads and infrastructure are built on country. and with deep respect we incorporate the voices of First Nations people in our approach supporting access to mobility across communities. We're joined today by our CEO Michelle Jabco and CFO Henry Byrne and together they'll take you through the presentation that we lodged with the ASX this morning. We realise it's a busy day today. The presentation should take around 20 minutes and then we'll have plenty of time for Q&A. I'll now hand over to Michelle to get us started. Thanks Craig and good morning to everyone on the call. Let's start with the outcomes we've delivered this year. We adapted quickly to the shifting environment. You've seen in our monthly updates since April that traffic faced some headwinds from broader macro conditions and geopolitical impacts on fuel. Despite that, our roads show good resilience, especially commercial traffic. Importantly, we didn't sit back and wait for conditions to improve. We leant in and controlled what we could control, driving better cost performance, strengthening margins and growing distributions in line with guidance by 6.2%, 98% covered by free cash. And we're continuing to strike the right balance by finding smarter, more efficient ways to run the business and grow distribution sustainably. And most importantly, invest in our customers and longer-term growth prospects. This has given us the confidenc...