With operating income up 15% to €146m (vs. €107m in 2014) and revenues stable for the first time since the merger, at €6.6 billion, Transdev’s results illustrate the success of the strategy implemented since 2013. They reflect the group’s improved sales and operating performances, the impact of which was magnified by lower oil prices. The group’s net attributable profit more than tripled, from €24m in 2014 to €82m in 2015.
Debt continued to shrink drastically and came to €741m at end-2015 (down 15% vs. 2014), even as the group kept its gross capital expenditure high at €292m (of which 43% in France).
Commercially, Transdev won 15 offensive bids, including in Germany, Sweden, and, most recently, in New Zealand, with the Wellington suburban trains, and more than 60% of its defensive bids. The successful launch of Isilines demonstrates Transdev’s ability to respond to the regulatory framework to meet new user expectations. For example, by leveraging its expertise that is acknowledged outside France, Transdev is prepared to bid within the framework of the experimental opening of passenger rail transport in France.
Transdev yesterday unveiled its “Transdev 2020” plan during a seminar attended by 500 group executives. It is the result of an unprecedented collective effort in which more than 2,000 employees took part.
As Jean-Marc Janaillac said, “In a world where everyone wants to have access to mobility, everywhere and at all times, Transdev’s mission is to meet these new expectations by offering socially responsible solutions. We will do so while continuing to improve our operating performance and including new, intensely digitalised forms of mobility in our traditional offerings. This will require an ambitious transformation, and that is the purpose of our “Transdev 2020” plan.
Transdev’s improved results and its divestment of its SNCM equity stake have now made it possible to refinance debt by replacing shareholder advances with bank financing. Banks’ interest in this operation is a sign of the new way in which the group’s solidity is viewed by its external counterparties.
Transdev’s key figures in 2015
€6.6 billion in revenues in 2015
€82 million in net attributable profit
A 15% reduction in debt vs. 2014
€3.5 billion passengers transported in 2015