Atlas Arteria Ltd (OTCPK:MAQAF)

Full Year 2025 Atlas Arteria Group Earnings Call Transcript

Feb 25, 2026 / 11:15PM GMT

Release Date Price: $3.68

Transcript

Key Points

Positve

Atlas Arteria Ltd (MAQAF) reported a 9.4% increase in proportional toll revenue and a 9.3% increase in proportional EBITDA, supported by CPI-linked toll increases.
The company announced a stable distribution of $0.40 per security for both 2025 and 2026, demonstrating resilience despite economic challenges.
Atlas Arteria Ltd (MAQAF) has implemented a new executive team structure to enhance decision-making and execution, with key appointments in leadership roles.
The company is actively pursuing organic growth opportunities, including potential new concessions like the A412 in France.
Atlas Arteria Ltd (MAQAF) has a strong balance sheet, with $1.4 billion of bonds and notes priced at APRR and Chicago Skyway, supported by strong investor demand.

Negative

Free cash flow per security was slightly down due to the impacts of the French government's temporary supplemental tax (TST) on large businesses.
Traffic at some of the company's assets, such as the Vantaa in Germany, was down due to roadworks, impacting overall performance.
The company anticipates that 2026 distributions could fall at the top or slightly outside of the policy range of 90% to 110% of free cash flow due to the extended TST.
Operational costs increased at Dulles Greenway due to a higher maintenance provision, impacting overall business operation costs.
The company faces uncertainty regarding the framework for future motorway concessions in France, which could impact long-term strategic planning.

Operator

Good day, and thank you for standing by. Welcome to Atlas Arteria 2025 results presentation. (Operator Instructions) Please be advised that today's conference is being recorded.

Due to legal restrictions, we are only able to communicate with eligible security holders and investors with respect to their eligibility to invest in Atlas Arteria securities. Details in relation to the ownership restrictions that apply to persons in the United States and other US persons that are not qualified purchasers and qualified institutional buyers are set out on Atlas Arteria's website under the US ownership restrictions.

If you are not a qualified purchaser and qualified institutional buyer, please refrain from asking questions in the relation to the securities as we are legally restricted from answering those questions on this call.

I would now like to hand the conference over to Mr. Hugh Wehby, Chief Executive Officer. Please go ahead.

Hugh Wehby

Atlas Arteria Group - Chief Executive Officer, Managing Director

Thanks very much, moderator, and

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