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Australia’s largest toll road company Transurban (ASX:TCL) reported its 2020 financial year report card today, here’s what you need to know.

Now with less people traveling on the roads, average daily traffic volume fell 9% in the year and TCL swung from a profit last year down to a 153 million loss in 2020.

Earnings before interest tax depreciation and amortization (EBITDA) a closely watched item fell 7.8% to $1.8 billion this was weaker than the market expected.

The global lockdowns and the shift to working from home affected the business, while it continued to invest in growth projects, total revenue fell 2.4% to $2.5 billion.

The majority of TCL’s revenue comes from tolls with North American toll revenue taking the biggest hit, followed by Melbourne, Brisbane and Sydney.

TCL declared a total FY20 dividend of 47 cents per share, including its final dividend of 16 cents distribution will be paid on the 14th of August.

As for what’s ahead next financial year, TCL expects its dividend in FY21 to be in line with free cash flows and expects traffic to improve in Sydney, Brisbane, Greater Western Australia and Montreal, with Melbourne to remain subdued on the back of COVID-19 stage 4 restrictions.

However, overall performance is of course dependent on Government responses to the pandemic, with road use and working from home a real key driver for future growth.

TCL’s shares have already gained 31% from their COVID-19 low and TCL is a Citi sell stock and a UBS hold.