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Transurban Group Announces COVID-19 Update Shortly Before Market Open

Max Molinari

Max is an Equity Analyst with ASR Wealth Advisers. He has studied a Bachelor of Business and a Bachelor of Laws at the University of Technology, Sydney. Max currently holds RG146 qualifications.

Transurban Group (ASX: TCL) has released a COVID-19 update to the market today. TCL has almost 95% of its staff working from home. The business notes the traffic impacts across portfolio varied with differing COVID-19 response measures taken by governments – rapidly evolving.

 

Transurban Group (ASX: TCL) announces COVID-19 update to the market – claims to have sufficient liquidity to meet capital requirements and refinancing obligations, set to pay dividend for 2H 2020 in line with free cash. (Credit: Live Trading News).

 

TCL has also mentioned it has sufficient liquidity to meet its capital requirements and debt refinancing obligations. Furthermore, the dividend for second half 2020 will be paid in line with free cash, excluding capital releases.

In terms of projects, the West Gate Tunnel project schedule remains under review as a subcontractor pulled out. It is only natural that businesses like TCL take a hit when people are staying home globally and socially distancing. However, it is important to note that there will be no lag between the lifting of lockdowns and revenue for TCL, meaning, the moment people are allowed to go outside, traffic numbers will jump. It is for this reason TCL appears attractive to some investors at current prices (down 26% since highs of 20 February).

 


Disclaimer:


This article has been prepared by the Australian Stock Report Pty Ltd (AFSL: 301 682. ABN: 94 106 863 978)
(“ASR”). ASR is part of Amalgamated Australian Investment Group Limited (AAIG) (ABN: 81 140 208 288 Level 13, 130 Pitt Street, Sydney NSW 2000).
This article is provided for informational purpose only and does not purport to contain all matters relevant to any particular investment or financial instrument. Any market commentary in this communication is not intended to constitute “research” as defined by applicable regulations. Whilst information published on or accessed via this website is believed to be reliable, as far as permitted by law, we make no representations as to its ongoing availability, accuracy or completeness. Any quotes or prices used herein are current at the time of preparation. This document and its contents are proprietary information and products of our firm and may not be reproduced or otherwise disseminated in whole or in part without our written consent unless required to by judicial or administrative proceeding. The ultimate decision to proceed with any transaction rests solely with you. We are not acting as your advisor in relation to any information contained herein. Any projections are estimates only and may not be realised in the future.
ASR has no position in any of the stocks mentioned.

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