RATP Group 2026 half-year results

• Consolidated revenue up 1.6% in the first half of the year to €4.0 billion, driven by the strong growth of subsidiaries (+23%) in both France (tram-train operations and bus public service contracts in the Île-de-France region, pre-operation of the Caen rail hub, launch of the Béziers contract, etc.) and internationally (new contracts secured by Votran in Florida and Charleston in South Carolina), as well as the strong performance of subsidiaries in South Africa and Italy. Subsidiaries accounted for 38% of the Group's activity, compared with 31% in the first half of 2025.

• Operating profit of €160 million, representing 4% of revenue, down €64 million compared with the first half of 2025. This anticipated decrease reflects technical factors (significant non-recurring provision reversals recognised by RATP EPIC in the first half of 2025 and invoice adjustments with Île-de-France Mobilités), the reduction in RATP EPIC's asset base, and the impact of inflation, which is only partially offset by contractual indexation mechanisms. RATP EPIC's underlying operating performance remained strong, with operational performance and service quality meeting targets and costs kept under control. The subsidiaries' contribution increased significantly (+€30 million), driven by the performance of RATP Dev contracts and the continued expansion of RATP Cap Île-de-France.

• Net profit attributable to the Group of €81 million, compared with €153 million in the first half of 2025.

• RATP Group investment remained at a sustained level, reaching €848 million, with 94% invested in the Île-de-France region and 48% financed from the Group's own resources. Total investment declined slightly (-€44 million), mainly reflecting the completion of the southern extension of metro line 14.

• The Group's net debt stood at €5.2 billion, down €1.07 billion compared with June 2025, primarily reflecting asset disposals (the transfer of bus assets to Île-de-France Mobilités) and the refinancing by Île-de-France Mobilités of the MF01 and MP05 metro fleets. The net debt-to-equity ratio (gearing) improved to 0.92x, compared with 1.14x in June 2025.

The RATP Board of Directors, meeting on 31 July 2026 under the chairmanship of Xavier Piechaczyk, Chairman and Chief Executive Officer of the company, reviewed the RATP Group's consolidated financial statements as at 30 June 2026.