Melbourne-based global toll road operator Atlas Arteria (ASX:ALX) has released its traffic and revenue update for the first quarter of 2026, revealing a period of steady performance despite a complex macroeconomic backdrop.
The company announced a 0.1% increase in proportionate toll revenue for the three months ended March 31, compared to the same period last year.
When adjusting for the impact of foreign exchange movements, the underlying revenue growth appeared even more robust at 1.6%.
In France, the APRR network saw a minor dip in total vehicle kilometres travelled by 0.9%, though revenue still climbed by 1.1%.
This was bolstered by strong performance from the A79, which saw a 6.6% revenue jump.
Germany’s Warnow Tunnel struggled, with traffic and revenue falling by 9.3% and 5.8%, respectively.
Performance in the United States remained a bright spot, particularly for the Dulles Greenway, which posted a significant 7.6% increase in traffic and a 7.4% rise in revenue.
Management noted that while global supply chain disruptions and fuel costs remain a point of focus, the business has not yet seen material impacts.
The company highlighted the long-term low elasticity between fuel prices and traffic, alongside the fact that most toll regimes are CPI-linked.