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The RATP Group reports its full-year 2011 results
Among the highlights of 2011 are the increase in the number of journeys on the Ile-de-France networks (+52 million journeys) and the doubling of revenues at RATP Dev, which now generates 61% of its business internationally.
In all, the RATP Group reported a 9% increase in consolidated revenue to €4,983 million.
In a mixed economic environment, the company pursued its efforts to boost productivity and benefited from exceptional items arising from operations pertaining to the capital of Transdev and Systra. Ebitda rose 17% to €1,051 million, and Ebit increased 36% to €560 million. The Group’s share of recurring net income was €264.3 million, up 60.8%.
RATP considerably stepped up investments in 2011 to €1,480 million (up from €1,251 million in 2010), mainly to increase transport capacity and to modernise equipment and infrastructure in the Greater Paris region.
Pierre Mongin, Chairman and CEO of the RATP Group, comments: “Our 2011 results are encouraging for all RATP teams. Despite a downturn in the economic environment in the second half, the company successfully improved its technical performance in order to carry more than 50 million additional passengers. At the same time, it improved its economic profitability thanks to labour productivity. In 2011, all our efforts focused on network modernisation, for which we invested nearly €1.5 billion. Nothing will shift our focus from this priority, which is the only way to consolidate public services in the Greater Paris region while diversifying internationally as a leader in urban transport.” Mr. Mongin also “welcomes the support of the Ile-de-France Transport Authority (STIF), which understood our strategy and is supportive of RATP’s dynamism in its ambition to be a major national company transporting millions of passengers daily.”
Change in RATP Group's main performing indicators
|
(million Euros) |
31 December 2010 |
31 December 2011 |
Change (%) |
|
Consolidated turnover |
4,570 |
4,983 |
+ 9% |
|
EBITDA |
898 |
1,051 |
+ 17% |
|
Recurring EBIT | 390 |
484 |
+ 24% |
|
Group’s share of recurring net income |
164.3 |
264.3 |
+ 61% |
|
Self-financing capacity |
681 |
847 |
+ 24% |
Continuing an ambitious investment policy
In 2011, thanks to the support of the Ile-de-France Transport Authority (STIF), RATP stepped up its investment efforts to a record €1,480 million. This year’s investments were devoted to major, concrete improvements for passengers, notably the rollout of new rolling stock (MI09 double-decker trains for RER A, renovated Ml79 trains for RER B, and the first automatic trains for Metro Line 1) and the extension of the transport network (extension of Metro Line 8, creation of a dedicated bus lane for Line 393, completion of train renovation for Metro Line 13).
This deliberately active development policy, in which the RATP Group has invested €5 billion over the past four years, explains the increase in Group net debt. RATP EPIC, the public service company, reported net debt of €5,087 million at year-end 2011, €180 million less than the starting target for 2012. Indeed, free cash flow increased by an exceptional 24% in 2011, to €847 million.
Meeting on 13 April 2012 under the direction of Chairman Pierre Mongin, RATP’s Board of Directors examined and approved the consolidated financial statements for the RATP Group and the financial statements of the public service company EPIC at 31 December 2011.
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