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reflects the prevailing lower interest rate
and inflationary environment, it should
be noted that it is below ARTC’s overall
weighted average cost of capital.
Although this has translated into lower
Hunter Valley revenues for ARTC, the
adverse impact was partly mitigated by
pleasing increases in non-coal revenue
across most modes, resulting in access
revenue for the 2016-17 financial year
being down a net 5.6 percent.
The company continues to demonstrate
its strength as a sustainable, diverse
and profitable company as indicated by:
•
•
Profit from operating activities
excluding Depreciation, Amortisation,
Impairment, Interest and Tax (EBITDAI)
was $364.6 million for the year which
demonstrates the strong operating
cash profitability of the business
•
•
Net Profit After Tax increased
4.2 percent to $122.5 million
•
•
We maintained a strong balance
sheet and a $129.4 million reduction of
debt to $514.7 million, contributing to
reduced finance costs for the year, and
•
•
Dividend payments of $82.8 million
were made to our Shareholders.
Our strong underlying performance is
also reflected in our stable credit rating
of A1 with Moody’s – and is supported
by the sustained focus on careful cost
management, driving efficiencies and
meeting our financial targets through
our continuous improvement program.
—OUR CUSTOMER FOCUS
DRIVING BUSINESS
GROWTH
The year has been characterised by
our continued focus on delivering for our
customers and ensuring safe and reliable
train operations against a number of
new delivery priorities for the business.
Although market conditions have been
difficult, there have been a number
of positive signs in our major business
growth areas, particularly in the
second half of the financial year.
This has included a new customer and
additional services entering the growing
North South market; record crop yields
with increased agri-traffic volumes across
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