RATP group upbeat despite financial contraction

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RATP has several operations in the UK, including Bournemouth-based Yellow Buses. MIKE SHEATHER

RATP Group has released its financial results for 2016.

Group revenue stood at €5.45bn, a contraction of 2% on the previous financial year, with €1.13bn (20.7%) contributed by subsidies. This represented a 1.5% decline.

Net profit amounted to €171m, a significant but planned decline from the €437m of the previous year. This was due in part to an increased development drive and a drop in margins from sightseeing bus activity due to terrorist attacks.

Cash flow stood at €912m, down from €1.046bn the previous year.

RATP President and CEO, Elisabeth Borne, said: “RATP Group demonstrated its solidarity in 2016 despite the unfavourable economic climate characterised by very low inflation and a drop in tourist numbers.

“Even so, we posted a high level of activity and sound cash flow that make it possible for us to make our ambitions come true and stick to our financial trajectory.

“RATP Group will continue its drive in 2017 to epitomise sustainable mobility and the smart city with the first large-scale bidding process or electric buses, tests in driverless shuttles and international development.

“Innovation will be central to our concerns in all fields – operations, maintenance and passenger services.”