Atlas Records Strong Cash Flow Growth in 2018 on Interest Savings; Increasing FVE to AUD 5.70
Narrow-moat-rated Atlas Arteria performed well in 2018, with EBITDA rising 5% to AUD 869 million, mainly on solid traffic and toll growth at core asset APRR in France. Distributions to securityholders increased 20% to AUD 24 cents per share, benefiting from significantly lower interest costs as expensive hedges rolled off. The full period benefit of lower interest rates and other positives will drive distributions to AUD 30 cents per share in 2019, with further strong growth likely for a couple ...Atlas Arteria is a global infrastructure developer and operator. As of Dec 31 2015, Co.'s investments consisted of 20.14% interest in Autoroutes Paris-Rhin-Rhone, a 2,323 km motorway network located in the east of France; 50% interest in Dulles Greenway, a 22 km toll road in Loudoun County, northern Virginia, U.S.; 70% interest in Warnow Tunnel, a two km toll road and tunnel under the Warnow River in the northern German city of Rostock, Germany; and 100% interest in M6 Toll, a 43 km motorway that bypasses Birmingham and connects to the existing M6 at both ends in West Midlands, U.K.
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