407etr

407ETR in Toronto the world's first all-electronic tollroad reports revenues of C$560m in calender 2009 a 2.5% increase on 2008's $546.5m. At C$1=US$0.931 2009 revenue is US$521.4m. (All further $#s are C$s)

Traffic dropped 2.6% to 303.5k/day from 2008's 311.7k/day, average workday trips from 377.9k to 367.3k. But average trip distance was up slightly and vehicle-kms traveled were 2,214.8m down 1.7% on the 2,252.7m of 2008.

407ETR are raising tolls differentially to boost revenues and to manage congestion. Toll changes announced today and effective Feb 1 2010 see an increase in the main peak hours premium from 10.3% to 16.3% over off-peak.

Leading concessionaire Macquarie report that their weighted average of traffic worldwide was up 1.6% in the last quarter, July-September, an improvement on the low point early this year. Greatest traffic strength was on the APRR motorway network in central France, up 3.4% over last year, and Westlink Sydney up 5.7%. The American pikes were the poor performers in traffic with the exception of Chicago Skyway.

Traffic on Canada's big tollroad 407ETR is down 3.8% the first half of this year (2009H1) versus first half of 2008 (2008H1) but a slightly larger increase in toll rates (4.7%) has ensured that revenues are holding. Revenues in 2009H1 were running at an annual $469m (C$524m @$C=90c) based on 292.1k trips/day versus 303.8k in 2008H1, the 3.8% decline. The revenue in 2008H1 was $468m (C$520.2m.)

407International holding company for 407ETR tollroad in Toronto has paid off C$400m in 6.05% bonds with proceeds of recently floated 3 year notes paying 4.65% and 5 year notes paying 5.1%, reducing their interest costs. C$=82cUS

TOLLROADSnews 2009-03-19

407ETR the privately operated Toronto Ontario tollroad reports 2008 traffic about level with 2007 and revenue up 5.3% to $437m (C$547m @C$=80c). The December quarter saw traffic down - 3.4% as measured by vehicle-km traveled vs 2007Q4, 1.5% down by total trips, 1.9% down by average workday trips.

The big tollroad in Toronto, 407ETR, reports traffic pretty much flat in the September quarter versus a year ago - average weekday traffic of 391.6k trips 2008Q3 vs 392.4k 2007Q3. That 0.2% decline is offset by a small increase in weekend traffic for total trips in the quarter of 29.79m up 0.7%.

407ETR in Toronto reported revenue - almost entirely toll revenue - of $519m for 2007, an increase of 13% on 2006. (based on C$=US$) That puts it up in the same league as the New York State Thruway, the Pennsylvania Turnpike, Illinois Tristate Tollway, the Sam Houston Tollway and the New Jersey Turnpike as one of the top grossing tollroads in North America.

407ETR is in its eleventh year but achieving healthy growth in traffic along with steady toll increases.

407 International, concessionaire on 407ETR in Toronto has issued $250m of Senior Notes at 4.5% as part of an ongoing refinancing of maturing medium term debt. The company owned by Cintra, Macquarie and SNC is refinancing $1.4b of medium term notes as they come due this year. RBC is leading the placement. (C$ treated as = US$)

TOLLROADSnews 2008-01-22

Toronto's 407ETR has announced a new toll policy in which tolls will be raised most aggressively on the busiest segments in peak hours. Light vehicle tolls (<5 tons) are increasing from 17.6c/km to 19.25c/km (28.3c/mi to 32c/mile) or by 9.4% in peak hours on the busy 8 and 10 lane central stretch between Highway 401 and Highway 404. (All based on Cc=USc)

That's a 1.65c/km increase (2.7c/mi). The toll increases will apply from Feb 1.

Toronto's 407ETR tollroad collected its first tolls October 14 1997 and on its tenth anniversary they announced it had achieved a new daily record on a recent holiday Friday - 445,822 transactions. They do 407k transactions on the average weekday and about 380k annual average daily.

Antonio de Santiago, chief executive of 407ETR: “Setting a new one day traffic record is a great way to celebrate our 10th anniversary.”

407ETR Concession Company has added an extra 100 lane-km along nearly 50km (32mi) of the central section of the tollroad between H401 in Mississauga and H404 in Thornhill due north of central Toronto. Now 4 and 5 lanes each direction for 50km the east-west tollroad spanning the greater Toronto area is one of the highest capacity urban pikes in north America.