Atlas Arteria share price lifts as revenue spikes 19%

Young boy in business suit punches the air as he finishes ahead of another boy in a box car race.Young boy in business suit punches the air as he finishes ahead of another boy in a box car race.

The Atlas Arteria Group (ASX: ALX) share price is in the green on Wednesday after the company released an update on its performance in the June quarter.

At the time of writing, the Altas Arteria share price is $8.14, 0.37% higher than its previous close.

Atlas Arteria share price gains alongside quarterly revenue

Here are the key takeaways from the S&P/ASX 200 Index (ASX: XJO) toll road operator’s quarterly update:

  • Weighted average toll revenue increased 18.9% on that of the prior comparable period
  • That marks a 2.4% increase on that of the same quarter of 2019
  • Weighted average traffic on the toll road operator’s assets increased 21.2%
  • That was around 1.7% lower than the same quarter of 2019

All four of the company’s toll road assets ­– located in France, the United States, and Germany – recorded higher revenue in the second quarter of 2022 than they did in the same quarter of 2021.

The increases were bolstered by greater tourism and employment in France and Germany and a gradual return to office-based work in the United States.

What else happened in the June quarter?

Of course, the quarter was also a brilliant one for the Atlas Arteria share price. It leapt 23% over the three months ended June.

Most of its gains came on the back of apparent takeover interest.

The IFM Global Infrastructure Fund snapped up 15% of the ASX 200 company’s stock and noted it was considering putting in an acquisition bid last month.

However, Atlas Arteria declined to provide non-public information to help the fund build a bid.  

What’s next?

Atlas Arteria didn’t provide the market with new guidance today. Though, it did provide an insight into how its toll assets have been performing year to date.

Here’s how much revenue its four major assets brought in over the six months ended June compared to the same period of 2021:

  • France’s APRR brought in 1,289.6 million euros ­– a 20% increase
  • France’s ADELAC brought in 29.55 million euros – a 52% increase
  • The US’s Dules Greenway brought in US$32.06 million – a 20% increase
  • Germany’s Warnow Tunnel brought in 6.08 million euros – an 11% increase

Atlas Arteria share price snapshot

The Atlas Arteria share price has outperformed the ASX 200 this year so far.

The company’s stock has gained 17% year to date while the ASX 200 has tumbled around 12%.

Additionally, Atlas Arteria’s stock is trading for 28% more than it was this time last year. Comparatively, the index has fallen 8% over the last 12 months.

The post Atlas Arteria share price lifts as revenue spikes 19% appeared first on The Motley Fool Australia.

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