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CHAIRMAN’S
OVERVIEW
The Directors are pleased to present
the Australian Rail Track Corporation’s
(ARTC) annual report and financial
statements.
2017 has been a defining year for ARTC,
which has reinforced our credentials in
the rail industry and our ability to promote
rail as the best mode to grow Australia’s
freight competitiveness. This has been
demonstrated through:
•
•
Solid underlying financial performance;
•
•
The Government’s commitment to
deliver Inland Rail, Australia’s largest
freight rail project;
•
•
Strengthened governance
from the Board down;
•
•
Our strategic focus on making rail
the nation’s mode of choice; and
•
•
A culture change in safety leading
to significantly improved results.
These successes are discussed in more
detail below.
—SOLID UNDERLYING
FINANCIAL
PERFORMANCE
Our underlying results have again
been solid, despite external regulatory
and commercial challenges.
Net Profit After Tax of $122.5 million
represented an improvement of
4.2 percent compared to last year.
This was achieved despite total Access
Revenue of $713.8 million being 5.6
percent lower than last year, driven
primarily by the reductions arising from
lower return parameters under the Hunter
Valley Access Undertaking (HVAU),
approved by the ACCC in June 2017.
ARTC paid our Shareholders a
Dividend of $82.8 million.
These results have been driven by strong
performance across the business:
•
•
A 6.3 percent increase in Interstate
GTK volumes contributing to a
5.4 percent increase in Interstate
revenues against last year. This was
a pleasing result given continued
difficult economic conditions in
Western Australia.
•
•
A 2.5 percent increase in export
coal throughput; with record
daily, weekly and monthly tonnage
throughput records being achieved
during the year.
•
•
One of the strongest grain seasons for
some time, contributing to increased
grain revenues for both the Interstate
and Hunter Valley Business Units, up
74 percent over the prior year.
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