Aurizon below rail coal earnings up on higher access revenue

摘要

Dominant Australian coal rail operator, Aurizon has reported below rail earnings (EBIT) of AUD469m ($336m) for June-ended FY2020, a 17% uplift on year, despite lower railings, as its track access revenue increased following a revised agreement with Queensland coal shippers. Below rail haulage for the full year was down 2% to 226.90 mt compared with 232.70 mt in the previous corresponding period. Going forward, Aurizon forecasts a revenue under-recovery from its below rail operations as volumes are expected to be lower than the forecast volumes of 239 mt due to COVID-19’s impact on coal demand.