Atlas Arteria (ALX) Q3 2026 TU earnings summary

Executive summary

• Q3 2026 proportional toll revenue fell 0.4% YoY excluding FX; reported revenue declined 8.9% due to FX movements.

• Traffic was mixed: France weakened amid elevated fuel prices, while US and German businesses recorded growth.

Financial highlights

• APRR toll revenue was €850.0m, down 1.7% YoY; A79 revenue was €12.2m, up 3.4%, and ADELAC revenue was €21.61m, up 1.9%.

• Warnow Tunnel revenue was €5.08m, up 4.2%; Chicago Skyway revenue was US$43.58m, up 9.6%; Dulles Greenway revenue was US$22.76m, up 3.9%.

Outlook and guidance

• Warnow toll prices are scheduled to rise 2.3% on average from 1 November 2026; Chicago Skyway prices are scheduled to rise 4.9% for light vehicles and 4.7% for heavy vehicles from 1 January 2027.

• The final French Budget Bill terms, including tax rates and effective dates, remain subject to parliamentary approval; any enacted changes could apply to the 2026 or 2027 tax year depending on enactment timing.