Total revenue for fiscal 2015 was down 1% at $A 3.78bn, but growth in network earnings delivered a 14% improvement in underlying Ebit of $A 970m.

Aurizon carried 211.2 million tonnes of coal in fiscal 2015. While Queensland coal traffic fell 1% to 168.2 million tonnes, Hunter Valley traffic in New South Wales increased by 6% to 42.9 million tonnes. A total of 225.7 million tonnes of coal was carried by all operators over Aurizon's Central Queensland coal network. Contracted volumes for the 2016 financial year are expected to drop by 5 million tonnes to 225 million.

Iron-ore revenue was down by 14% at $A 40m due to the loss of two contracts during the year while intermodal revenue grew by $A 10m to $A 302m.

A core target of a 75% operating ratio was almost achieved with a full-year ratio of 74.3%. Aurizon has now set a new operating ratio target of 70% by 2018.

Aurizon anticipates railfreight for the 2016 financial year will remain flat, with coal in the range of 210 to 220 million tonnes, iron-ore at 24 million tonnes and general freight traffic of around 45 million tonnes.

Aurizon is continuing to work with its partners on the West Pilbara iron-ore project, and has identified $A 1.5bn in capital expenditure savings whilst increasing throughput by 33%. A final investment decision on the project is expected to be made late in 2016.