Transdev presents results 2024, topping €10 billion revenue for the first time

Transdev sales topped for the first time the €10 billion mark, with EBITDA up 10% year-on-year reaching €655 million. According to its annual report, EBITDA increased by 10% year-on-year to €655 million, while current operating result (COR) grew by 31%, reaching €222 million. Net income more than doubled to €43 million. The company also increased capital expenditure (CAPEX) to €633 million, mainly to support its fleet’s energy transition, while slightly reducing net financial debt to €1.228 billion.

Transdev relies on 105,000 women and men, 70% of whom are drivers. In 2024, the Group recruited nearly 30,000 employees worldwide, including 9,000 in France alone. 

In December 2024, Transdev’s ownership structure began shifting as Caisse des Dépôts and Rethmann Group entered exclusive negotiations for Rethmann to acquire an additional 32% stake. If approved, this transaction would make Rethmann the majority shareholder with 66% ownership, while Caisse des Dépôts would retain 34%.

Transdev 2024: focus on financial results

Transdev achieved in 2024 a growth in revenues revenues up nearly 8% on 2023, to 10.05 billion euros. Group EBITDA rose significantly, by +10% to €655 million. 

Current operating result (COR) rose by 31% to reach 222 million euros, compared with 167 million euros in 2023. Net income more than doubled to 43 million euros. 

As mentioned above, in 2024 Transdev spent 633 million euros (+6.2%) on operating investments, in particular for the energy transition of vehicles, while net financial debt fell from 1.266 billion euros to 1.228 billion euros. 

Transdev’s geographical performances

In terms of geographical performance, France remained Transdev’s largest market, generating €2.8 billion in revenue (28.1% of total sales), closely followed by the United States (€2.7 billion, 27%), Germany (€1.5 billion, 15.2%), the Netherlands (€800 million, 8%), and Sweden (€646 million, 6.4%). The integration of First Transit’s North American operations, held in 2023, progressed ahead of schedule, strengthening the company’s presence in the region.

Transdev results 2024 and energy transition

Transdev continued expanding its low-emission fleet as part of its “Moving Green” strategy, operating 3,300 electric vehicles across 13 countries. The company also invested in biofuels, biogas, and hydrogen-powered buses while introducing diesel-to-electric retrofits. Between 2018 and 2024, greenhouse gas emissions from Transdev’s fleet declined by 18% (target: -30% by 2030), with nitrogen oxide emissions decreasing by 47% ahead of the target of -50% by 2030. 

On the innovation front, Transdev launched “Nova,” an electric hydrofoil ferry, in Stockholm in October 2024. This trial aims to test a sustainable alternative for archipelago transport using 100% renewable electricity. The service will resume in spring 2025 after an initial test phase.

Transdev: a rail history

Transdev continued expanding in rail, light rail, and metro operations. In France, the company secured contracts for the Marseille-Toulon-Nice regional rail line and other routes in Nancy, Contrexéville, and Brittany. In Sweden, Transdev won regional rail contracts for Ostgötapendeln and Mälartåg, while in Germany, the company renewed key contracts, including Bavaria’s Oberland 2027+ network.

In light rail, Transdev and its partner John Holland won the operation and maintenance contract for Melbourne’s Yarra Trams network, valued at €4.2 billion over nine years. The company also launched a fourth light rail line in Sydney.

Metro operations saw continued development, with Transdev celebrating one year of managing Quito’s metro system in Ecuador, which transported 44 million passengers in 2024.

2024: a historical year

“This has been an historical year for Transdev. In a complex economic context, with all our teams around the world, we have won the confidence of our clients and achieved numerous commercial successes in our public service missions. We are women and men serving mobility for all,” explains Thierry Mallet, Chairman and CEO of Transdev. 

He added: “Transdev has initiated a virtuous circle in a business which is strongly decentralized. Our decisions are made locally, as close as possible to our clients, the transit authorities. At the same time, they can all draw on Transdev’s global expertise. Our extensive experience and know-how enable us to provide the best solutions to meet the needs of each region. Our successes in 2024 clearly demonstrate the relevance of our strategy and the robustness of our business model. With the support of our two long-term shareholders, we will continue our efforts in the future with the same momentum, enabling us to transport even more people on our networks, with the aim of ensuring an increasingly stronger social and territorial cohesion with solutions that serve the common good.”