• Strong trends in growth: consolidated revenue up 13% in the first half of 2025, reaching €3.9 billion. Growth was driven both by accelerated development among subsidiaries (up 31%) in France, with the commissioning of major contracts (Lyon rail network and Caen public transport network), and abroad (expansion of the Riyadh metro, contracts in the United States, and so forth), in addition to the surge in RATP EPIC’s revenue (up 7%). RATP EPIC’s earnings rose, as a result of a more comprehensive transport offering (extension of tram line T3b and metro lines 11 and 14, which were commissioned in spring 2024), and of pegging and reviewing operating earnings under the new 2025-2029 contract that was signed with Île-de-France Mobilités (IDFM) on 15 July 2025.
• Net recovery in operating income, up by €173 million, amounting to €224 million Group-wide, which simultaneously reflects the continued improvement to service productivity across the Île-de-France regional network, the financially sound RATP - Île-de-France Mobilités contract, and the outcome of the agreement that was signed to strike a new balance in the Tuscany region bus operations contract.
• Return to a positive Group share of net income, at €153 million, as compared to -€54 million in the first half of 2024, with sharp improvement in net income from subsidiaries, following the February 2025 sale of the Group's bus business in London.
• €827 million invested by RATP in the Île-de-France region in the first half of the year, with the support of Île-de-France Mobilités. The slowdown in the volume of investments (down 32%), compared to an exceptional first half of 2024 (commissioning of three metro and tram line extensions, and anticipation of summer works in the run-up to the Olympic and Paralympic Games), was expected. RATP Group's consolidated investments stood at €892 million.
• Net debt remains stable compared to June 2024, at €6.3 billion. The €605 million increase, compared to late 2024 (€5.7 billion), reflects a temporary decrease in operating and investment WCR, due to seasonal and calendar effects, which should reverse in the second half of 2025. The net debt-equity ratio (gearing) stands at 1.14x, an improvement from June 2024 (1.24 x).