Auckland Transport (AT) has released its 2020 annual report showing a record $862.1 million was spent in new infrastructure and asset renewals for the year to June 30.
This was 95% of AT’s $903m budgeted capital programme and includes major construction work underway on the Downtown programme, Karangahape Road upgrade, the Eastern Busway, the Puhinui Station bus and train interchange plus multiple road and cycleway projects.
AT’s reported operating surplus for 2019/20 before tax was $760m compared to the $733m budget.
Total revenue for the year was $2.082b against a budget of $2.034b; total expenditure was $1.322b against a budget of $1.302b.
AT’s net asset position is $21.1b, up $1.4b from last year due to new infrastructure and a $656m valuation increase of property, plant and equipment.
AT closed around 160 construction sites during COVID-19 alert level 4. On public transport, it provided 4000 free AT HOP cards and provided nearly 65,000 face masks and 1400 litres of hand sanitiser to operators.
“COVID-19 had a dramatic impact on AT operations but AT was well prepared to meet the challenges and uncertainties posed by the pandemic,” chief executive Shane Ellison says.
“Our people showed agility, collaboration, leadership and resilience during the COVID-19 crisis.
“We analysed our organisation and projects, paused recruitment, deferred some activities, reviewed our contractor workforce and identified multiple ways to be more efficient and innovative.
“The AT Board, senior executives and more than 70 per cent of our people in leadership roles volunteered six-month remuneration reductions. We also implemented a number of cost reduction initiatives,” Ellison says.
*Click here to read the report.
