The Atlas Arteria Group (ASX: ALX) share price is in the green following the company's quarterly traffic and revenue update.
Over the 3 months ended 30 September, the company experienced its busiest third quarter of any calendar year since 2018.
At the time of writing, the Atlas Arteria share price is $6.49, 2.04% higher than its previous close.
Let's take a closer look at the quarter just been for the toll road operator.
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The quarter just been for Atlas Arteria
The Atlas Arteria share price is gaining today on news the company's European toll roads have seemingly recovered from their COVID-19 induced slump.
The company operates 2 toll roads in France, the APRR and the ADELAC, as well as Germany's Warnow Tunnel.
Over the September quarter, 6% more kilometres were travelled on the APRR, bringing in 6% more revenue, than in the same quarter of 2019.
Meanwhile, the ADELAC saw its traffic and revenue drop by 4% and 2% respectively compared to 2019's September quarter. Though, it did see 8% more cars and bring in 8% more fares than in the same period last year.
At the same time, traffic in the Warnow Tunnel was down 2% on that of the same quarter 2 years ago, but its revenue was up 1.6%. The changes were due to higher toll averages and roadworks on competing routes.
According to Atlas Arteria, the EU DigitalCOVID Certificate, essentially a vaccine passport, was launched in Europe at the start of the quarter. As of 10 October, 80% of adults in France and 78% of adults in Germany were fully vaccinated against COVID-19.
However, traffic on Atlas Arteria's Virginia toll road, the Dulles Greenway, was nowhere near its pre-pandemic levels.
In the third quarter of 2021, the Dulles Greenway saw 30% less traffic than it had in the same quarter of 2019. It also brought in 28% less revenue.
However, when compared to the third quarter of 2020, the toll road's traffic and revenue were up 26% and 32% respectively.
Over the quarter just been, Virginia had another wave of COVID-19 infections. As a result, many employees continued working from home and weekday traffic slumped.
Atlas Arteria share price snapshot
Despite today's gains, the Atlas Arteria share price is 0.07% lower than it was at the start of 2021.
However, it has gained 3.7% since this time last year.
