Limited ACN 141 075 201 International Limited EC43828 Level 7, 50 Martin Place SYDNEY NSW 2000 GPO Box 4294 SYDNEY NSW 1164 AUSTRALIA Telephone 612 8232 3333 Facsimile 612 8232 4713 Internet www.macquarie.com/mqa DX 10287 SSE The Belvedere Building 69 Pitts Bay Road Pembroke HM08 BERMUDA 20 July ASX RELEASE TOLL REVENUE AND TRAFFIC STATISTICS 2 nd Quarter (MQA) today released its June quarter toll revenue and traffic statistics for each of its portfolio toll roads. Weighted average toll revenue and traffic 1 for the June quarter increased by 4.5% and 4.3% respectively on the prior corresponding period (pcp) reflecting increased traffic levels and revised toll schedules implemented over the past 12 months. For the six months to 30 June, weighted average toll revenue grew 3.7% while traffic over the same period was 2.6% above pcp. The table below provides a summary of the revenue and traffic performance against pcp. Traffic Metric 3 Toll Revenue 2 vs pcp Traffic vs pcp Qtr YTD Qtr YTD Jan-Jun Jan-Jun APRR Total VKT 4.9% 3.5% 5.2% 2.7% ADELAC ADT 7.2% 6.6% 2.7% 3.0% Dulles Greenway ADT 1.7% 4.2% (1.4%) 1.2% Warnow Tunnel ADT 4.0% 5.3% 0.9% 2.7% 1 Weighted average toll revenue and traffic reflects MQA s economic interest in each asset (for Dulles Greenway this is a 50% estimated economic interest up to and including 15 May and 100% estimated economic interest thereafter). All other figures, including pcp, are presented on a 100% basis. 2 Measured as Toll Revenue for APRR and for ADELAC, Dulles Greenway and Warnow Tunnel. 3 Measured as Total Vehicle Kilometres Travelled (VKT) and (ADT). None of the entities noted in this document is an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these entities do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (MBL). MBL does not guarantee or otherwise provide assurance in respect of the obligations of these entities.
1 APRR MQA owns a 20.14% interest in APRR, in France. Table 1: APRR Pcp Toll Revenue Revenue ( m) 585.8 558.5 4.9% Vehicle Kilometres Travelled (m) Light Vehicles 4,980 4,709 5.8% Heavy Vehicles 933 910 2.5% Total 5,913 5,619 5.2% During the June quarter, total traffic (VKT) increased by 5.2% on pcp. Light vehicle traffic increased by 5.8% on pcp, and heavy vehicles increased by 2.5% on pcp, during the quarter. The timing of the Easter holiday period, which fell in the March quarter in compared to the June quarter this year, had a positive impact on light vehicle traffic and a negative impact on heavy vehicle traffic. Traffic in the June quarter also benefitted from the inclusion of additional motorway sections (26km) as part of the stimulus plan agreed with the French State. Toll revenue for the June quarter amounted to 585.8 million, up 4.9% on pcp. This reflected the combination of higher traffic levels, traffic mix and toll increases of 0.90% and 0.93% for APRR and AREA respectively which came into effect on 1 February. MQA ASX Traffic Release June Quarter 2
2 ADELAC MQA owns a 20.15% interest 4 in ADELAC, in France. Table 2: ADELAC pcp Revenue ( ) 150,178 140,152 7.2% All Days 29,674 28,881 2.7% Average daily traffic during the June quarter increased by 2.7% on pcp. Average daily toll revenue for the quarter increased by 7.2% on pcp, due to a combination of traffic growth during the quarter and higher tolls. 4 MQA holds a 20.15% indirect interest in ADELAC, 10.04% through APRR and the remaining 10.11% through Macquarie Autoroutes de France 2 SA (MAF2). MQA ASX Traffic Release June Quarter 3
3 DULLES GREENWAY MQA owns an estimated 100% economic interest 5 in TRIP II LP, the owner of the concession for the Dulles Greenway in Virginia, United States. Table 3: TRIP II Dulles Greenway pcp Revenue (US$) 272,109 267,472 1.7% Workdays 64,480 65,630 (1.8%) Weekends/Public Holidays 36,169 36,113 0.2% All Days 56,080 56,872 (1.4%) Workdays in Period 64 64 - Non Workdays in Period 27 27 - Average daily traffic and toll revenue for the first half of increased by 1.2% and 4.2% respectively on pcp. Average daily traffic during the June quarter decreased by 1.4% on pcp. Average workday traffic decreased by 1.8% while non-workday traffic increased by 0.2%. Traffic during the quarter was negatively impacted by: The timing of the spring break school holiday which fell in the March quarter in compared to the June quarter this year. The extension of the Gloucester Parkway in Ashburn which was opened in August, providing relief to Waxpool Road and improving traffic conditions on surrounding competing routes. Widening works on Route 28 which were completed in stages between December and May, providing further congestion relief on alternative routes. The above local network factors and other ongoing construction works in the corridor are anticipated to create some volatility in Dulles Greenway traffic over the next 24-36 months. Average daily toll revenue for the quarter increased by 1.7% on pcp. On 1 March, offpeak mainline car tolls increased from US$4.40 to US$4.55 and peak mainline car tolls rose from US$5.35 to US$5.50. 5 In February, MQA exercised its pre-emptive right to acquire the remaining 50% estimated economic interest. Financial close occurred on 16 May. MQA ASX Traffic Release June Quarter 4
4 WARNOW TUNNEL MQA owns a 70% interest in Warnowquerung GmbH & Co. KG, the owner of the concession for the Warnow Tunnel in Rostock, Germany. Table 4: Warnowquerung GmbH & Co. Warnow Tunnel pcp Revenue ( ) 31,560 30,339 4.0% Workdays 13,838 13,510 2.4% Weekends/Public Holidays 8,637 8,474 1.9% All Days 12,066 11,961 0.9% Average daily traffic during the June quarter increased by 0.9% on pcp. Traffic during the quarter was negatively impacted by the timing of the Easter holiday period which fell in the March quarter in compared to the June quarter this year. Average daily toll revenue for the quarter increased by 4.0% on pcp, reflecting the combination of higher traffic volumes and the introduction of higher tariffs over the last twelve months. For further information, please contact: Investor Enquiries: Media Enquiries: Victoria Hunt Navleen Prasad Head of Investor Relations Public Affairs Manager Tel: +61 2 8232 5007 Tel: +61 2 8232 6472 Email: Victoria.Hunt@macquarie.com Email: Navleen.Prasad@macquarie.com MQA ASX Traffic Release June Quarter 5