Aurizon Sidesteps Regulator to Improve Returns
After a soft first-half fiscal 2019, narrow-moat rated Aurizon’s coal volumes improved 4% in the third quarter, despite some delays exporting coal to China. Coal volumes benefited from strong export demand, given healthy coal prices and new contracts. Volumes would have been even better if not for Aurizon workers taking industrial action and poor weather. The main negative, which was expected thanks to good disclosure from management, was the 20% fall in bulk volumes following cessation of iron ...Aurizon Holdings is engaged in integrated heavy haul freight railway operation; rail transportation of coal from mine to port for export markets; bulk, general and containerised freight businesses; and rail services activities. Co. has three segments: Network, which is engaged in the provision of access to, and operation and management of, the Central Queensland Coal Network; Commercial & Marketing, which is engaged in the commercial negotiation of sales contracts and customer relationship management; as well as Operations, which is engaged in the national delivery of various coal, iron ore, bulk and intermodal haulage services, and in the maintenance of rollingstock fleet assets.
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