Transurban Finance announced its 1HFY23 results and upgraded distribution guidance

Transurban Finance Company Pty Ltd (ASX: TA1) announced 1HFY23 results and guidance as follows:

• Average Daily Traffic (ADT) reached a new high of 2.5 million trips in November 2022, resulting in record traffic numbers. Record traffic in Sydney and Brisbane, freight traffic, and weekend travel contributed to the increase in traffic.
• A 57.0 cps distribution for FY23 is anticipated, up 4.0 cps from previous projections and a gain of almost 39.0% over FY22.
• Half-year proportional toll revenue reached a record high of AU$1,658 million, while proportional EBITDA reached a record high of AU$1,238 million.
• A strong balance sheet was maintained, with approx. 97% of the debt book hedged, AU$3.6 billion in corporate liquidity, and a group weighted average cost of AUD debt that remained at 3.9% for the 1HFY23.

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