2026 Half-Year Results
Resilient growth amid an uncertain economic environment
Issy-les-Moulineaux (France), August 4, 2026 - Transdev announces its financial results for the first half of 2026. In an unfavorable economic environment (rising energy prices, fluctuations in the dollar), the Group posted a 6.2% revenue growth and stable half-year results, confirming the resilience of its diversified public transportation portfolio.
- Major launches and partnerships-
- 5 million passengers transported on the Marseille-Toulon-Nice line after one year of operation, representing a 45% increase.
- Revenue up to 5.5 billion euros.
- EBITDA1 up to 333 million euros.
- EBIT stable at 93 million euros.
- Net financial debt stable at 1.26 billion euros.
Business
During the first half of 2026, business activity was robust, driven in particular by major new launches and partnerships, both in France and internationally.
In France:
- On May 1, in the Greater Paris region, the launch of DSP 44 concession made it the largest contract operated by Transdev in France, on behalf of Île-de-France Mobilités. The six-year contract involves 1,800 employees and 19 bus routes (some of which serve central Paris) operated by 380 vehicles, serving a catchment area of 600,000 residents. Since operations resumed, Transdev's teams have significantly improved the level of produced service.
- By the end of June, Transdev had carried 5 million passengers on the Marseille-Toulon-Nice line after one year of operation, representing a 45% increase. The line's operator punctuality rate exceeded 98% in the first half of 2026, while passenger satisfaction reached 96%. The Marseille-Toulon-Nice line, operated by Transdev on behalf of the Région Sud, is the first regional train line entrusted to a private operator since the market was opened to competition.
International:
In the Netherlands: On July 1, the Arnhem-Nijmegen-Foodvalley (ANF) public transportation contract was launched. This is the largest public transit concession in the Netherlands, operated entirely with electric buses-including 330 new buses-and featuring eight depots, four of which are brand-new. The contract, operated under the RRReis brand, runs for 10 years through 2036.
In Sweden: On June 15, Snälltåget launched a new daily rail service between Malmö (Sweden) and Oslo (Norway). Since 2007, these trains-which now connect five countries-have operated entirely without subsidies, relying solely on ticket sales.
In Morocco: As part of the joint venture known as ISSAL, formalized in June 2026 with CTM (Compagnie des Transports Marocains), Transdev has won three 10-year contracts to operate urban bus services: in Tetouan (since September 2023), in Fez (September 2025), and in Tangier (December 2025). Transdev also operates the Rabat-Salé tramway, whose contract was renewed in 2020 for 10 years.
In Colombia: In February, Transdev and its partner Fanalca were awarded the contract to operate the Bogotá Cable Car in the Ciudad Bolivar neighborhood (population 800,000) for a period of ten years. Operations began on July 13.
Financial Results
The company faced a decline in the value of the dollar and a sudden increase in energy prices during the first half of the year. In the first half of 2026, these factors had a negative impact of 96 million euros on revenue due to exchange rates evolution, and a negative impact of 18 million euros on the operating margin due to the rise in diesel prices, net of indexation effects, compared to the first half of 2025.
In this environment, Transdev's 2026 first-half results were characterized by:
- A solid increase of 4.1% (6.2% at constant exchange rates and scope) in revenue to 5.5 billion euros, driven by growth in its main geographic markets (France, the United States, Germany, and the Netherlands).
- EBITDA up 8.1% to 333 million euros
- Stable EBIT at 93 million euros.
- Net financial debt stable at 1.26 billion euros compared to June and December 2025.
| In € million | June 2026 | June 2025 | Variation |
| Revenue | 5,454 | 5,237 | +217 |
| EBITDA | +333 | +308 | +25 |
| Current Operating Result (COR) and income from equity-accounted entities | +92 | +98 | (6) |
| EBIT | +93 | +94 | (1) |
| Net Financial Debt | +1,260 | +1,250 | +10 |
About Transdev
Operator and leading independent private mobility group, Transdev empowers freedom to move every day thanks to safe, reliable and innovative solutions that serve the common good. Transdev transports an average of 14 million passengers daily, operating all transportation modes and resolutely committed to the ecological transition. The Group employs more than 107,000 women and men serving its passengers, consolidating its position as the world leader in public transportation. Transdev advises and supports local authorities and companies in a long-term partnership. Transdev is jointly owned by Rethmann Group (66%) and the Caisse des Dépôts Group (34%). In 2025, present in 19 countries, Transdev reported sales of €10.44 billion. For more information: www.transdev.com
Media contacts:
Damien Stéffan - damien.steffan@transdev.com / Tél: +33 6 27 36 16 79
Olivier Le Friec - olivier.le-friec@transdev.com / Tél.: +33 6 10 60 58 45
Investor contact:
e-mail: liste.relations.investisseurs@transdev.com
1 Earnings Before Interest, Taxes, Depreciation, and Amortization
