?Keolis won new light rail operations in both Nottingham (UK) and the Gold Coast (Australia) through two PPP contracts.
The group has also expanded in Belgium with the acquisition of three local school bus companies. In Canada, Keolis is now the sole owner of the bus company Groupe Orléans Express.
2011 saw the successful start-up of key contracts. The Virginia Railway Express commuter rail network serving Washington D.C. has increased patronage by more than 10 percent, while maintaining a high level of quality of service and safety. Bergen Tram in Norway reached a 99 percent customer satisfaction rate for 2011 for its quality of service.
The group also reinforced its position in the United States through the acquisition of Tectrans, Inc., renamed as Keolis Transit America, Inc. (KTA), a company that provides fixed-route and paratransit transportation. This gives Keolis an outstanding platform for future growth in the U.S. transit business.
… and in France...
France won a number of significant new contracts in Pays d’Aix, Orléans, Metz and managed to renew most of its existing contracts.
Thanks to commercial synergies with Keolis, EFFIA has successfully launched bike services in Lille and Angers, and won several new car parking contracts: Nantes, Lille, Lyon, Perpignan.
The successes of 2011 have confirmed Keolis’ leadership position in the mobility sector. The group has become a reference in:
- Redesigning bus networks (completed in Lyon, first phase underway in Lille) and reorganising bus and light rail networks (Angers).
- Operating and launching new light rail services (Angers, Nottingham, projects in Brest, Dijon and Tours) and BRTs (Bus Rapid Transit).
- Launching, with EFFIA, new bike services integrated with other modes of transport (Angers, Lille, Laval).
Growth objectives have been achieved
Keolis Group's 2011 revenue increased by 8 percent compared to 2010, reaching 4.4 billion euros (5.78 billion US dollars). This revenue growth is mainly due to organic growth (+6.7 percent) and new contracts in Sweden (+48.9M€; +63.68M US$) and Netherlands (+25.9M€; +33.7M US$) generating +278.8M€ (+363.1M US$).
International activities account for 2 billion euros (2.6 billion US dollars) and represent 47 percent of group revenue.
Even higher growth in earnings
Group earnings (EBITDA) increased by even more than revenue, up 11.3 percent on 2010 and reached 273.8 million euros or 356.6 million US dollars (+9,1 percent), fuelled by good performances in England and in Australia.
Net earnings came to 37.1 million euros or 48.3 million US dollars, up 6.9 percent on 2010.
A solid financial structure
The debt refinancing operation carried out in 2010 and 2011, as well as good performances in terms of cash flow, allowed Keolis to post a very low financial leverage ratio compared to EBITDA at 1.61x at the end of 2011.
This financial solidity allowed Keolis to pursue its investments in 2011 which amounted to 510 million euros (664 million US dollars) and a total of 860 million (1,120 million) over two years.
2012 outlook
In France the year will be marked by the start-up of the contracts won in 2011 and the preparation for renewals, in Rennes, Tours and Angers.
Abroad, Keolis intends to pursue growth in all the zones in which it is already established, either through competitive bidding or through acquisitions particularly in Great Britain, Australia or in the United States.
The Group will also pursue opportunities in India and will continue to study light and urban rail projects in China.
For 2012, Keolis aims to generate revenue of 4.8 billion euros (6.25 billion US dollars), 53 percent coming from French activities and 47 percent from abroad.
