Infratil (ASX:IFT, NZE:IFT) said the Dec. 31, 2024, independent valuation of its investment in Longroad showed a $133 million decline in valuation over the three months since the Sept. 30, 2024, valuation, according to a Friday filing with the Australian and New Zealand bourses.

This implied that Infratil's 37.01% stake is now valued at $1.13 billion, down from $1.27 billion at the end of September 2024. The firm attributed the decline in the valuation to an increase in discount rates outweighing positive updates to operating forecasts and construction progress.

The Dec. 31, 2024, independent valuation of Infratil's investment in Galileo showed an increase of 12 million euros in valuation over the quarter since the Sept. 30, 2024, valuation, implying that Infratil's 38% stake is valued at between 125.6 million euros and 176.5 million euros, up from a band of 113.8 million euros to 164.9 million euros at the end of September 2024.

It attributed the increase in valuation to shareholder capital injected into the business and an increase in the development stage of some projects in Galileo's pipeline.

The December independent valuation of Infratil's investment in Qscan shows a AU$47 million increase in valuation over the six months since the June 30, 2024 valuation.

This implied that Infratil's 57.62% investment in Qscan is valued at between AU$416.2 million to AU$454.9 million, up from a range of AU$358.2 million to AU$423.3 million at the end of June 2024. The increase in valuation is due to changes in discount rate assumptions, the filing said.