Transurban (ASX:TCL) sees lockdown traffic hit earnings

Company News

by Rachael Jones

Toll road operator Transurban (ASX:TCL) report their financial year 2020 performance was impacted by the Covid-19 pandemic with average daily traffic decreasing by 8.6 per cent across the portfolio.

Proportional earnings before interest, tax, depreciation and amortisation (EBITDA) and before significant items decreased by 6.4 per cent to $1.88 billion.

The company reported a statutory loss of $153 million compared to a statutory profit of $170 million at the same time last year.

They expect a rebound in traffic after 85 per cent of survey respondents say they expect to return to the workplace.

Shares in Transurban (ASX:TCL) are trading 1.22 per cent lwoer at $13.76.