2014 results: Transdev confirms turnaround one year ahead of schedule


Jean-Marc Janaillac, CEO of Transdev presented the group’s 2014 results: after the improvements achieved in 2013, Transdev has pulled out of the red and made a turnaround one year ahead of plan.

In early 2013, Transdev’s new management charted a course for the group’s recovery by setting three top priorities.

  • Financial: shrink debt to under €1bn
  • Economic: reestablish balance in 2015
  • Sales: stop the hemorrhage of contracts, especially urban deals, suffered in previous years.

These ambitious objectives were actually all achieved in 2014. Transdev’s recovery is now a reality, as shown by the figures.

The group’s debt level fell below the €900mn mark by the end of 2014 (vs 1.9bn at the end of 2012) under the triple effect of: a €560mn capital injection from shareholders, disposal of assets, and improvement in operating revenues.

Operating revenues were doubled in one year, reaching €107mn. Net earnings (group share) were positive for the first time since the Transdev-Veolia merger: €24Mn vs
-130Mn in 2013.

The group’s turnover reached €6.6Bn, stable against 2013, thanks to the reintegration of Sweden and Finland into our structure, but down, with a structure comparable to that of the previous year, due contracts that had been lost earlier.

The year 2014 saw an exceptionally high renewal rate for contracts reopened to competition. This included inter-city transport wins in France, as well as Dublin light rail, San Diego and Phoenix mass transit, and Wesserheims rail service in Germany.

Transdev’s sales recovery could be seen in new contracts, which are strategic to our business and have improved the overall profitability of the group. An example of this is the Roissy CDG-Val automatic metro, which positions the group well for future development of greater Paris area public transport, and the Sydney light rail deal, which confirms our light rail expertise.

These achievements are the result of the exceptional contributions of our staff around the world, of new organizations bringing us closer to local transport authorities and our customers, and of our new system for managing operational performance.

The improvements in group results, in conjunction with those in our respective countries, allowed Transdev to reintegrate Sweden and Finland, after deciding to keep Germany in our structure in 2013. The scope of our business is now stable and no new sell-offs are planned in 2015, for the first time since the merger.

Transdev is once again looking forward to a bright future. The long-term plan established in 2014 sees turnover continuing to rise in 2016, with a target of over €8bn by 2020. This will come from growth in our core business (bus, coach and light rail), as well as development of new operations in France (long distance coach service, rail, medical transport) and worldwide (transport on demand).

Transdev’s rediscovered ambition is durably based on the will to innovate and reform, to better serve our customers and passengers.

Transdev's key figures in 2014

  • Turnover of €6.6bn in 2014
  • 78,500 employees
  • €435mn in turnover carried over or earned in 2014
  • Net earnings of €24
  • €1bn less debt in two years
  • 5.9% margin (vs 5.2% in 2013)
  • 3.5bn passengers carried in 2014

The group's solid turnaround would not have been possible without the commitment of all our people to developing new working methods to boost sales and operational performance. Transdev now has a clear vision for the future- for ourselves and for the development of mobility. We will always be at the forefront of innovation, throughout the world, to provide our customers, local authorities and users with the answers they expect in terms of combining new and traditional modes of transport.

Jean-Marc Janaillac, Transdev CEO

About Transdev

A subsidiary of Caisse des Dépôts and Veolia, Transdev is a world leader in mobility. Transdev guides and supports local transport authorities, from pre-project phase, to project support and development, to everyday operation of transport networks. With 78,000 employees in 20 countries, the group operates 41,000 vehicles and 22 light rail networks. In 2014, Transdev generated €6.6bn in turnover.


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