2021 Results : Transdev confirms its return to growth despite a difficult context

Batiment Crystal transdev

Issy-les-Moulineaux, March 21, 2022: In a context still strongly marked by the public health crisis, Transdev returns to growth in 2021 with an increase in turnover (+3.8%) and sustained commercial development. The Group is successfully pursuing its debt reduction strategy, which has led to a reduction in net debt of €91 million in one year (-7%).


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    Issy-les-Moulineaux, March 21, 2022: In a context still strongly marked by the public health crisis, Transdev returns to growth in 2021 with an increase in turnover (+3.8%) and sustained commercial development. The Group is successfully pursuing its debt reduction strategy, which has led to a reduction in net debt of €91 million in one year (-7%).

    While public health and environmental challenges raise the question of the development of sustainable mobility more than ever before, Transdev Group continued its transformation plan in 2021 while facing a double challenge: attracting passengers back on board, while adapting offers to meet passengers’ new expectations and supporting local authorities in the acceleration of their energy transition. 

    To do so, Transdev Group continued its strategy of developing rail activities and accelerating the ecological transformation of the vehicle fleet. The objective of this strategy is to respond to environmental issues, and contribute to the strengthening of local communities. This strategy is divided into 4 axes: 

    • Continue to innovate in serving sparsely populated and suburban areas and in the field of energy transition (batteries, hydrogen, biogas, non-motorized transportation,...).
    • Continue to improve efficiency and performance with a decentralized organization that allows us to be even closer to local areas and more responsive while benefiting from the group global footprint.
    • Retain and develop talents and accelerate recruitment around the world.
    • Continue to be selective in the choice of contracts and geographic areas. 


    Press Release


    This year, Transdev Group has once again faced the consequences of the public health crisis. With the adaptability of our teams and the measures taken to adapt to the situation, the Group has continued its transformation while also responding to environmental challenges. The opening of the rail sector to competition, the maintenance of a high supply offer and a high quality of service will address these challenges. The commitment and support of public authorities will be decisive for the success of these changes. 

    Thierry Mallet, Chairman and CEO of Transdev Group

    1. Key elements for the 2021 fiscal year

    Thanks to an increase in ridership, evolution of the business portfolio, the deployment of transformation measures initiated in 2020, agreements reached with its customers and public support measures, the Group limited the adverse impacts of the public health crisis in 2021:

    • Revenue of 7 billion euros, an increase of €255 million in comparison to 2020 ;
    • Current Operating Revenue reached €124 million, a sharp increase over last year ;
    • Net income, Group share before goodwill depreciations is € +33M for the 2021 financial year ;
    • Net Group result recorded a loss of -€162 million, resulting from goodwill depreciations (-€195 million) made necessary due to lower visibility and increased pressure on margins, linked in particular to loss of passenger revenues and long-term consequences of the health crisis, particularly in France ;
    • Net financial debt is €1.21 billion, down by €91 million while deploying €528 million in investments in 2021, which gives an increased liquidity position and significant room for maneuver ;
    • Geographical distribution The Group is present in 18 countries. France is the Group’s leading market with an increase in turnover of 2.6 billion euros (37%). Germany accounts for 17% of the Group’s turnover, followed by the United States (13%), the Netherlands (9%), Australia and New Zealand (8%), as well as Sweden (7%) ;
    • The level of service decreased by 13% and the level of ridership by 21% on average compared to 2019 ;
    • This results in an estimated negative impact of -€301 million on turnover and
      -€64 million on Operating Income, after taking into account public support measures (mainly in Germany and the Netherlands) and negotiations with clients.

    2. Strong business development thanks to the rail sector opening up to competition, which illustrates confidence in Transdev Group

    After a year particularly characterized by very strong restrictions resulting in new mobility habits, 2021 strengthened Transdev in its successful progression and in the pursuit of its ambitions in the rail sector.

    In France first of all, with a significant victory in the conquest strategy with the signing of the TIM Marseille-Nice contract, the first offer submitted by Transdev following the opening up of regional rail to competition in France. As well as this success, Transdev has also won important wins in Ile-de-France, Centre-Val-de-Loire and in the Eure region. Transdev has also renewed many contracts in France for school and intercity transportation, highlighting the confidence of local authorities.

    Internationally, also, with the gain of key markets, such as :

    • In Australia with the bus contract in the city of Sydney generating an annual turnover of around 99 million euros (500 buses including 146 electric) ;
    • In Germany, with the gain and renewal of bus contracts in many German cities (annual turnover of around 126 million euros), and the renewal of MittleRheinBahn rail services for 10 years, the launch of a hydrogen bus test in Bavaria for 2023, and the successful commercial launch of the regional trains, S-Bahn Hannover ;
    • In the United States too, the rail strategy has been successful with the signing of two rail maintenance contracts. Transdev continued to expand in the United States with the renewal and signing of new transportation on-demand bus contracts ;
    • In New Zealand with the winn of the Wellington city-center airport bus shuttle contract for six years, including 10 electric buses ;
    • In Colombia with the signing TransMilenio, a major e-bus contract (874 M€) in Latin America, including over 400 electric buses and the largest electric depot in the region (40,000 m²) ;
    • In the Netherlands, successful start of operations of the new contract at Gooi en Vechtstreek for electric buses ;
    • In Sweden, the win of four new contracts, one regional rail contract with the Roslagsbanan, and three bus contracts including to operate 320 biofuel buses in the north of Stockholm, to be operational throughout the year 2022 ;
    • In Chile, the 5 year extension of Redbus Urbano in Santiago with a fleet of 912 buses out of 258 are electric.

    Once again, thanks to the adaptability of our employees, the Group has achieved a number of commercial successes around the world, for urban and rail networks and for the energy transition. We are confident that from 2022 onwards, Transdev will confirm its recovery.

    emphasizes Mallet

    3. Rail and opening to competition, a growth axis for Transdev Group

    Opening up to competition makes it possible to improve the daily lives of French people, accelerate the ecological transition, connect isolated areas and make cities and regions more attractive. In Germany, Transdev Group is already the leading private operator and has played a major role in revitalizing certain regions by deploying services that are better adapted to passenger needs.

    Transdev Group’s recent gains confirm the need to accelerate this strategy in order to :

    • Improve the daily lives of passengers by giving power back to local areas ;
    • Develop structured, ecological routes ;
    • Open up and strengthen the attractiveness of regions ;
    • Contribute to the renaissance of night trains in Europe.

    The new economic paradigm, intrinsically linked to the challenges of ecological transition

    In the wake of the health crisis, new demands for sustainable development have emerged from citizens and public transit authorities. In France, this was recently expressed during the last municipal elections, particularly in major urban areas. The Group is accelerating the ecological transition with a fleet of 1,400 electric buses by the end of 2021.

    Key figures at 12/31/2021

    Revenues: 7MD€

    EBITDA: 632,6M€

    Net income, group share : -€162,1M€

    Current operating result :124 M€

    Net financial debt : € 1,2 MD€

    Employees : 81.715 in 18 countries



    Presentation of the results 2021

    About Transdev:

    As an operator and global integrator of mobility, Transdev – The mobility company –empowers freedom to move everyday thanks to safe, reliable and innovative solutions that serve the common good. We are proud to provide 11 million passenger trips on average everyday thanks to efficient, easy to use and environmentally friendly transportation services that connect people and communities. Our approach is rooted in long-term partnerships with businesses and public authorities, and in the relentless pursuit of the safest and most innovative mobility  solutions. We are a team of people serving people, and mobility is what we do. Transdev isjointly held by Caisse des Dépôts Group (66%) and the Rethmann Group (34%). In 2021, with81,715employees in 18 countries, the Group generated total revenues of € 7billion. For more information : www.transdev.com

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