Five Infrastructure and Materials Stocks – Are these game for a boom?
Modest growth during Q1FY17:Macquarie Atlas is expected to benefit from future spending on infrastructure projects while the group is already witnessing growth in toll revenue. For Q1FY17, the group reported that toll revenue from Autoroutes Paris-Rhin- Rhone (MQA owns a 20.14% interest in APRR, in France) grew by 2.1% year on year (yoy) to €536.9 million while the revenue from ADELAC (MQA owns a 20.15% interest in ADELAC, in France) increased by 6.0% yoy to €144,289 driven by traffic growth and higher tolls during the quarter. Revenue from Dulles Greenway (MQA owns 100% interest in TRIP II LP Dulles Greenway in Virginia, United States) and Warnowquerung GmbH & Co. KG (MQA owns a 70% interest in, the owner of the concession for the Warnow Tunnel in Rostock, Germany) grew by 7.1% yoy 6.8% yoy to $241,127, and €26,109, respectively. Importantly, in February 2017, MQA announced that it intended to exercise its pre-emptive right to acquire the remaining 50% economic interest in the Dulles Greenway. MQA’s ownership in the Dulles Greenway has been said to increase to 100% following the acquisition. Further, the acquisition is expected to enhance MQA’s ability to optimize Dulles Greenway’s key operating business decisions, capital structure and cash flows over the longer term.
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