AMSA reported an operating surplus of $3.0 million in 2019–20. Compared to 2018–19 deficit of $20.5 million, this result represents a net movement of $23.5 million, reflective of an increase in revenue of $10.2 million, and reduction in operating expenses of $13.3 million.
A significant reason for the difference was the one-off recognition of a provision in 2018–19 of $27.1 million for a pollution incident clean-up operation. Against this provision, during the current year AMSA spent $15.7 million. The excess provision of $11.4 million was reversed and recognised as one-off own-source revenue in 2019–20.
Figure 1 shows the net movements in revenue and operating expenses for the 2019–20 financial year against the 2018–19 deficit. It shows the cumulative and sequential effect for each of the movements in revenue and expenses, separately reporting the one-off provision for pollution incident and impact of new accounting standard changes for leases (right of use).