FY26 was a milestone year for Transurban. We completed three major construction projects that are delivering significant travel time savings and customer benefits across Sydney, Melbourne and North America. Against a backdrop of global economic and geopolitical uncertainty, performance remained resilient.
With our full reporting suite now available, these are the key details you need to know:
- Traffic: we saw overall traffic grow from 2.2% to 2.6% million daily trips, with commercial traffic growing by 6.6%3.
- Markets: impacts from construction are subsiding in Sydney, freight traffic grew 3.9% on CityLink, and we saw a 4.9% increase in freight traffic on Sydney roads. In the US, traffic was up 3.5% and revenue up 14%3 – clearing expectations.
- Continued business efficiency: we delivered operating and cost growth below inflation for a third year running (1.9% Operating Cost CAGR for FY24- FY26)1.
- What we delivered: we’re establishing a scalable foundation for growth by prioritising customer and reputation, delivering strong operational efficiency and exploring a robust growth pipeline.
Delivering key projects and initiatives for drivers
New projects
- 495 Northern Extension Project: 4km of new express lanes in each direction, with a 10% increase in average daily traffic3
- West Gate Tunnel Project: a 90% reduction in trucks off inner west Melbourne streets
- M7-M12 Integration Project: 26km of the M7 widened and an extra 30,000 daily capacity.
Supporting toll reform in NSW
Working constructively with the NSW Government to make the system better for motorists, including pricing and equalisation payments, new and upgraded assets, toll relief and key digitisation.
Investing in customers and innovation
Targeted AI investment to deliver customer value, customer safety and structural business efficiency, and enhanced trip efficiency through Linkt tools.
The financial details
Key financial highlights and performance from FY262
- 2.2% increase in ADT across all markets3
- 6.7% increase in proportional toll revenue
- 3.3% growth in proportional operating costs
- 69cps distribution for FY26, 98.1% covered by Free Cash (excl. Capital Releases)
- 72cps expected distribution in FY27, representing approximately 4.3% growth on FY264.
Find further informtion on our FY26 results on our Investor centre
Read out FY26 Corporate Report
1This article includes non-IFRS measures.
2Financial metrics presented are a non-IFRS measure, except for Statutory profit after tax, distributions paid and distribution per stapled security. Refer to FY26 Results 4E and Corporate Report for a definition of non-IFRS measures.
3ADT growth on a like-for-like basis (ex. WGT) was +1.4% for the Group and +0.7% for Melbourne. FY26 ADT percentage movements have been adjusted to normalise: (i) the WGT opening impact for Group and Melbourne, by assuming WGT operated for the full FY26; and (ii) the A25 sale impact for Group and North America. WGT opened on 14 December 2025 and Transurban sold its remaining 50% interest in the A25 concession on 15 June 2026.
4Traffic in June and July showed a more positive trajectory than April and May. Distribution guidance and free cash coverage is subject to traffic performance and macroeconomic factors. Any distribution will ultimately be determined by the Transurban Board.
