has anyone tried to work out what the traffic might look like after rampup?
3.9% traffic growth so far each month, just on a basic calc i get upto 221k AADT. thats still 50k less than the PDS. that implies a 20% discount to forecast numbers.
@$3 per car x 221k = $665k per day in tolls x 365= $242m in toll rev.
assume $2.5b in debt at 7% = $175m int costs.
so i estimate free cash flow to be around $70m pa, divide by the number of units on issue, that gives a free cash flow div amount of $0.054 pa.
it all points to me that they will cut dists.
CEU Price at posting:
69.3¢ Sentiment: Buy Disclosure: Held
