Investment porfolio
The MQA portfolio has the following key characteristics:
- a global portfolio, with assets in the UK, France, Germany and
USA
- long concession terms remaining (weighted average 46 years)1
- a mixture of market based and scheduled toll increases providing
revenue growth
- exposure to OECD and OECD-like economies, and
- no major refinancing requirements until 2013.
As at 31 December 2009
| Asset |
MQA % Interest |
Location |
Road Opened / Privatised |
Concession Term Expiry (years remaining) |
Road Length |
Tolling Structure2 |
Valuation (A$m)1 |
% of MQA Portfolio1 |
| M6 Toll |
100.00 |
Birmingham, UK |
2003 |
2054 (45 years) |
42 km |
Market based |
389 |
30 |
| APRR |
20.37 |
Eastern France |
2004 |
2032 (23 years) |
2,234 km |
% of CPI |
462 |
36 |
| Dulles Greenway |
50.003 |
Virginia, USA |
1995 |
2056 (47 years) |
22 km |
CPI + |
298 |
24 |
| Indiana Toll Road |
25.00 |
Indiana, USA |
2006 |
2081 (72 years) |
253km |
CPI + |
32 |
3 |
| Chicago Skyway |
22.50 |
Chicago, Illinois USA |
2005 |
2104 (95 years) |
12.5 km |
CPI + |
95 |
7 |
Summary of MQA Portfolio financial information and key financial
statistics
| Asset |
Traffic Metric |
Traffic (12 Months to 31 Dec 2009) |
Revenue (m)1,3 |
EBITDA (m)1,3 |
EBITDA Ratio1 |
| M6 Toll |
Av All day Traffic |
38,541 |
£59.30 |
£51.40 |
86.68% |
| APRR |
Total VKT |
20,628 |
€1,860.0 |
€1,262.0 |
67.85% |
| Dulles Greenway |
Av All day Traffic |
49,413 |
U$64.1 |
U$46.0 |
71.76% |
| Indiana Toll Road |
Full Length Equivalent Trips (Ticket) |
23,414 |
U$158.8 |
U$123.2 |
77.58% |
| Full Length Equivalent Trips (Barrier) |
54,201 |
| Chicago Skyway |
|
47,296 |
U$63.7 |
U$54.0 |
84.77% |
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