RATP revenue up as it confirms growth plans

first_imgDuring a presentation to announce its results for the first half of 2014, French group RATP has confirmed plans to continue to expand outside its historic territory in the Paris region. It is focusing on the rest of France and international markets with the aim of generating 30% of Group revenue by 2020. Expansion will continue in the second half of 2014 with the launch of the first tramway line in Washington DC, the continued extension of the Manchester tramway and the implementation of the contract to operate and maintain the bus network in Riyadh.President and Chief ExecutivePierre Mongin said:”The Group has continued to grow, for example in the USA with the launch of the Tucson tramway and a new sightseeing bus service in New York City, and in India with the commissioning of Mumbai’s first metro line. Thanks to the confidence shown by its public shareholder, RATP intends to continue its drive to achieve all of the objectives in its ‘Vision 2020’ plan and in particular: to continue to work to improve day-to-day service for Paris region passengers; serve as a major contributor to the Grand Paris project; continue to expand internationally. We aim to achieve these goals given the committed involvement and very high professionalism of our staff members and to constructive labour dialogue.”In March 2014 RATP DEV acquiredthe London Sovereign bus business from Transdev; representing approximately 2% of the London bus market, London Sovereign operates 13 routes in the north west of the city from its two depots in Edgware and Harrow. The purchaseaddedto RATP DEV’sexisting UK holdings which include Epsom Coaches, Selwyns Travel, The Bath Bus Company,Bournemouth’s Yellow Buses and theformer Stagecoach Metrolinkoperation in Manchester.Key points, year to end of June 2014:Group revenue amounted to €2,674 million at 30 June 2014, up by 3.3% compared to 30 June 2013.Group net results increased by 4.8% to €198 million.Cash flow at record high of €527 million, up by 8%.Subsidiaries’ contribution to Group revenue rose by 12% to amount to €454 million, i.e. 17% of the Group’s overall business.last_img read more