RATP announces ‘good’ interim results

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RATP’s Board of Directors met on 31 August 2011 under the chairmanship of Pierre Mongin to review and approved the consolidated RATP Group accounts and the EPIC accounts for the year to June 30, 2011.

Pierre Mongin, Chairman and Group CEO, said:

“The 2011 interim results are very good and ahead of our expectations. The good performance of the Group is the result of the hard work and productivity of RATP’s employees and exceptional items related to the exit of RATP from its investment in Transdev as well as the creation of Systra.

“The current economic climate, which has led to a slowdown in traffic, justifies a cautious approach to the second half. ”

Throughout 2011, the RATP Group is making record investments of over €1.5 billion to benefit travellers in the Paris region.

The projects that will be delivered in the second half of the year include the commissioning of double-decker trains on the RER A line, installing the first automatic trains on the Metro line 1 and the extension of the Metro line 8 to Creteil.

The modernisation of the Paris region transport network, supported by Syndicat des transports d’Ile-de-France (STIF), requires an unprecedented amount of financial commitment from the RATP Group which is made possible by the increase in cash flow (up more than €100 million a year), but has also necessitated an increase in net debt of €242 million for the first half.

A third of total Group turnover is required to implement RATP projects in the Paris region every year, a level of investment unmatched in the transport industry.

During the first half, the RATP Group continued to develop its operations and maintenance subsidiary RATP Dev, integrating new companies in the UK (Manchester trams network), France, Italy and Switzerland, as well as achieving commercial success with Gautrain in South Africa and the tram network in Florence.

In addition, Systra has become a global brand for transportation engineering, through the increase of capital and assets from Xelis and Inexia, the engineering subsidiaries of RATP and SNCF respectively.

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