LOWER bulk earnings have been listed as factors in rail operator Aurizon’s financial results for the 2025 financial year.
The rail company reported delivering underlying EBITDA (earnings before interest, taxes, depreciation, and amortisation) for the financial year ended 30 June 2025 of $1.576bn, down compared with $1.624bn in 2024.
According to Aurizon, this was “in line with revised expectations announced in June”.
It noted several “key drivers” of the latest results.
These included the network EBITDA rising 3% to $956 million compared with the production control and planning (PCP) driven by higher regulatory revenue, “partly offset by higher maintenance costs and a reduction in external construction works”.
Total tonnes carried over the Central Queensland Coal Network were 208 million, 1% lower than FY2024.
Coal EBITDA described as “flat at $527 million” compared with the PCP with higher operating costs offset by an increase in revenue due to higher volumes and yield.
Volumes hauled of 192.2 million tonnes were 2% higher than the 2024 financial year.
Bulk EBITDA was down 26% to $169 million compared with the PCP as contract growth was “more than offset by cessation of a rail maintenance contract, lower South Australia grain volumes and an increase in doubtful debt provisions”.
Volumes hauled of 55.3 million tonnes were reported down by 17% compared with the PCP.
Underlying net profit after tax (NPAT) was $348 million, down 14%, and statutory NPAT was down 25% compared with FY2024 due to significant items which include the goodwill impairment of $57 million allocated to bulk.
The Aurizon Board declared a final dividend of 6.5 cents per share, fully franked, representing a payout ratio of 80% of the second half of 2025 underlying NPAT.
It is expected to be paid on 24 September 2025.
Aurizon has been innovative at times during the past year, teaming up with ANL to provide a landbridging supply chain solution for Asia Pacific container traffic through Darwin.
The new service offers customers shipping from Asian Pacific ports to Darwin, with direct rail connection to Adelaide and southern Australian destinations as required.