Highlights from the first half of 2024
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Strong trends in revenue growth (up by 10.2%, excluding foreign currency effects) from the first half of 2023, amounting to €3.48 billion. The encouraging performance was buoyed by the recovery in service productivity across the bus network; the expansion of the public transport offering in the Île-de-France region, including the metro line 11 and 14 extensions; continued development of subsidiaries in France, the Middle East, and the United States; and pegging transport authority remunerations to inflation.
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Marked increase in operating income (€56 million increase from H1 2023), reaching €51 million as at the end of June. This reflects the effectiveness of the policies that had been implemented to restore service coverage, and to reduce absenteeism in the Île-de-France region; the favourable effects of lower energy prices; and better protection against inflation through contract-based indexing provisions, following the December 2023 signing of a contract amendment with Île-de-France Mobilités.
- The Group’s net share of income rose by €75 million from H1 2023, both as a result of RATP EPIC’s restored operational efficiency, and RATP Dev’s operation of buses in London. RATP EPIC posted a balanced corporate net income of €3 million, compared to -€65 million in the first half of 2023.
- Boom in RATP investment spending across the Île-de-France region (up 37%) from the first half of 2023, totalling €1.209 billion. These investments included €316 million on behalf of Société des Grands Projets (SGP), attesting to the exceptional amount of resources that were deployed with support from Île-de-France Mobilités and SGP for the purpose of accelerating the completion of projects to develop and upgrade the public service offering. These projects also serve to improve service quality, in order to successfully host the Olympic and Paralympic Games Paris 2024. In addition, 25 km of new commercial lines were commissioned with the extension of tram line T3b to Porte Dauphine in April, and extensions to metro lines 11 and 14 in June 2024. RATP Group consolidated investments were worth €1.276 billion, surging by 32% from the previous year.
- Consolidated net debt stood at €6.255 billion in June 2024, in contrast to €6.074 billion as at the end of December 2023. This increase, which reflects accelerated investment, the unfavourable calendar variations on RATP EPIC’s and RATP Dev’s operating WCR, and the decrease in investment WCR by season, is expected to turn around in the second half of the year.