Key points
- Statutory net loss after tax of $(73.3) million due to non-operating costs
- Underlying net profit after tax increased by 29% to $94.3 million
- Proportional toll revenue decreased by 3.9% due to FX movements
- Reaffirmed 2026 distribution guidance of 40.0 cps
- IFM's interest increased to 67.4% post Takeover Offer
Full summary
Atlas Arteria (ASX:ALX) reported its financial results for the half year ended 30 June 2026. The company reported a statutory net loss after tax of $(73.3) million, impacted by costs associated with the extinguishment of the Chicago Skyway put option and IFM Takeover Offer. Excluding these non-operating costs, underlying net profit after tax was $94.3 million, a 29% increase from the previous year. Proportional toll revenue decreased by 3.9% due to unfavorable FX movements, but increased by 0.6% excluding FX movements. Proportional EBITDA decreased by 3.6%, while the EBITDA margin increased to 76.6%. Operating free cash flow per security was 19.1 cps, down by 1.5% from the previous year. The company reaffirmed its 2026 distribution guidance of 40.0 cps, with a planned H1 2026 distribution of 20.0 cps payable in October 2026. The company also announced the appointment of John Wigglesworth as Interim Chair of ATLAX and Independent Director of ATLIX, and the extinguishment of the Chicago Skyway put option held by OTPP for US$100m.
Guidance
Underlying net profit after tax $94.3 million, Proportional toll revenue $917.5 million, Operating free cash flow per security 19.1 cps, Distribution guidance 40.0 cps
Outlook
Atlas Arteria remains focused on executing its strategic priorities and is engaging with IFM to deliver benefits for all investors. The company continues to focus on optimizing its businesses and pursuing associated growth opportunities.