FINANCIAL and CSR REPORT Attestation of the Persons Responsible for the Annual Report
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2015 FINANCIAL AND CSR REPORT Attestation of the persons responsible for the annual report We, the undersigned, hereby attest that to the best of our knowledge the financial statements have been prepared in accordance with generally accepted accounting principles and give a true and fair view of the assets, liabilities, financial position and results of operations of the Company and of all consolidated companies, and that the management report attached here to presents a true and fair picture of the financial position of the Company and of all consolidated companies as well as a description of the main risks and contingencies facing them. Chairwoman and Chief Executive Officer Élisabeth Borne Chief Financial Officer Alain Le Duc CONSOLIDATED CONTENTS FINANCIAL STATEMENTS • Statutory Auditors’ report 63 MANAGEMENT Consolidated statements of REPORT comprehensive income 64 • Consolidated balance sheets 65 Financial results 4 Consolidated statements of cash flows66 Workforce, environmental and social information 11 Consolidated statements of changes in equity 67 Note on extra-financial reporting methodology Notes to the consolidated Financial year 2015 34 financial statements 68 Report by one of the Statutory Auditors 36 FINANCIAL STATEMENTS REPORT BY THE • PRESIDENT Statutory Auditors’ report 121 • Balance sheet 122 The Board of Directors 39 Income statement 124 Risk management and internal control and audit functions 43 Notes to the financial statements 126 Appendices 55 Statutory Auditors’ report 61 MANAGEMENT REPORT Financial results 4 Workforce, environmental and social information 11 Note on extra-financial reporting methodology Financial year 2015 34 Report by one of the Statutory Auditors 36 ORGANIZATIONAL CHART OF THE RATP GROUP – DECEMBER 31, 2015 TELCITÉ 100% TELCITÉ NAO 100% ReAl PROPeRT. MARKeTING AND TeleCOM DIISION NAXOS 100% eNGINeeRING DIISION SEDP 100% SADM 100% PROMOMÉTRO 100% TRANSPORT DIISION MARKETING LOGIS-TRANSPORTS 99.98% l’HABITATION 99.95% ReAl PROPeRT UNCONSOLIDATED SUBSIDIARIES AND TELECOMS TRANSPORTS RATP – INTERNATIONAL 100% GROUPE SYSTRA 41.92% IXXI 100% MÉTROLAB 50% ENGINEERING RATP FLEXCITÉ 85.0% FLEXCITÉ 91 100% DÉVELOPPEMENT 100% FLEXCITÉ 94 9% FLEXCITÉ 77 100% FLEXCITÉ TAD 100% FLEXCITÉ 93 100% TVM 100% FLEXCITÉ 95 100% MOBICITÉ 100% FLEXCITÉ 95 TSE 100% CTY 100% FLEXCITÉ 92 100% EM SERVICES 90% EMS RENNES 100% JACQUEMARD ET CIE 100% SQYBUS .10% ORLYVAL SERVICE 99% 52.42% TP2A 51% STIIMMO 20% RATP DE FRANCE 40% INESTISSEMENTS 100% CARS SAINT MARTIN 88.5% RATP DE FRANCE ODULYS 5% 2% SERVICES 100% LEBAS LARIDANT 100% SCI LLI 98% CTVMI 100% OAGe DUPAS leBeDA 100% SCI FONCIÈRE RD 100% AeNTOUR 100% CÉOBUS 100% OAGeS TAQUeT 100% CARS PERRIER 100% AUTOCARS CHEMIN DE FER DU CAMBRÉSIS 100% SCI SOFITIM 50% CAMBRÉSIS 5.1% CAMBRÉSIS BUS 100% TIM BUS 50.0% TRAM DI FIRENZE 24.90% STIO 50% GEST SPA 100% CITÉ BLEUE 50% AUTOLINE TOSCANE 100% GEM’BUS 100% LFI 11.1% TFT SPA 100% CARS DUNOIS 100% RATP DE GENOVA 100% RFT SPA 100% VOYAGES DUNOIS 100% LATIUM CILIA 51% ALPBUS FOURNIER 100% HELVÉCIE SA 100% CHAMPAGNE RATP DE SUISSE TP 100% MOBILITÉS 100% RATP De SAUDI ARABIA 95% 5% T MOULINS MOBILITÉS 100% R BOURNEMOUTH O STDM 100% TRANSPORT 90.01% P S STI ALLIER 100% N LONDON UNITED 100% A STI CENTRE 100% BUSWAS R T STI HAUTE-SAVOIE 100% BATH BUS COMPANY 100% STU BOURGES 100% METROLINK 100% STU VIERZON 100% H R RICHMOND LTD 100% VIENNE MOBILITÉS 90% SELWYNS 100% STILE 100% LONDON SOVEREIGN 100% CTCM CHARLEVILLE- TOT THE ORIGINAL LONDON MÉZIÈRES 100% SIGHT. TOUR 100% MATEM 51% 80% MC DONALD RDMT – TUCSON 20% STI NIÈVRE 100% TRANSIT ASS. 55.89% RDMT – DC 20% CTB 100% 80% STS 100% FULLINGTON AUTO CTLB 100% BUS COMPAN. 5.50% RDSL URBAN 9.4% CTVH 100% RDSL URBAN NY 100% SLT USA 100% 2.% DL ENTREPRISE 100% SELT 49% RATP DE ITALIA 100% 51% RATP DE SUISSE 100% RATP DE MIDDLE EAST 100% PTC 20% RATP DE UK 100% RDGS 100% RATP DO BRASIL 100% RATP DE USA LLC 100% SLT 100% CASA TRAM 100% 41% EL DJAZAÏR 100% SETRAM 8% 1% RATP DE MANILLE 99.99% NANJING ANQING .8% TRAMWAY HONG KONG 99% BOMBELA OPERATING NANJING JV 49% NANJING HUAIBEI 52% COMPANY VTCL 90% 51% HONG KONG TRAMWAY NANJING HUAINAN 8.09% VTR CHINA 100% VTR CONSULTING 100% VEOLIA TRANSPORT ENGINEERING 100% VTR KOREA 100% VT KOREA 90% RATP ASIA 50% SÉOUL LIGNE 9 80% VTR INDIA 100% MUMBAY 63% RATP GROUP I 3 I FINANCIAL AND CSR REPORT 2015 MANAGEMENT REport • FINANCIAL RESULts RATP group (“the Group”) is a major public transport provider in France, operating in towns and suburbs and particularly in the Île-de-France area. The parent company, Régie Autonome des Transports Parisiens (RATP), is a State-owned Industrial and Commercial Public Utility (Epic) incorporated pursuant to the French law dated March 21, 1948. It is a legal entity under public law registered with the Paris Trade and Companies Register (RCS). Its head office is located at 54, quai de la Rapée, 75012 Paris. The aim of RATP is primarily to run a public transport service in Île-de-France and its purpose, fixed by law No. 2009-1503 dated December 8, 2009 (ORTF law on the organization and regulation of rail transport), is to manage the network infrastructure assigned to the urban public transportation of passengers. FINANCIAL RESULTS • The operation, since January 1, 2015, of the Ondéa bus network of 1 • Principal developments in 2015 the Lac du Bourget municipality in Aix-les-Bains. • The takeover of Open Tour Paris, in June, to reinforce the positions 1.1 TRANSPORT acquired or developed in 2014 in the “Sightseeing” segment. RATP (breakdown of RATP’s separate • The acquisition of the Dupas Lebeda group, in August, which financial statements) brought in €33 million in revenue in Nord-Pas-de-Calais, Somme and Aisne. RATP’s revenue was up 1.4% from 2014. The increase in the service • New agreements: offer represents €32 million, or +0.7%. The index used to revise the − The Pays de Laon township committee, the organizing authority RATP remuneration (Île-de-France transport authority index) was for the Laon transport network (Nord-Pas-de-Calais-Picardie), very low at +0.12% (up €4 million). awarded RATP Dev the market for the operation of the TUL network (seven-year agreement starting on January 1, 2016). EBITDA was nearly stable compared to 2014 (up €2 million). Despite − The Épernay community of municipalities (Pays de Champagne) a difficult economic environment, operating income was preserved. awarded RATP Dev the market for the operation of its Mouvéo Recurring net income was €347 million in 2015, compared with network for an eight-year period. €285 million in 2014, or an increase of €62 million. It benefited − The STDM subsidiary won the market to operate the express bus from a significant drop in financial expenses (€31 million), due to line between Paris and Châlons-Vatry, the largest airport in the lower long-term rates and average outstanding net debt, as well Champagne-Ardennes region, to ensure the transportation of as a favourable change in net provisions (€25 million). Given the passengers of low-cost airlines. impact of non-recurring items in 2015 (Logis-Transports partial asset • Renewed agreements: contribution of €31 million, Voltaire disposal for €9 million, Nogent − The operation and maintenance of the Vierzon network was disposal for €12 million, extraordinary payment to the Île-de-France renewed for an eight-year period. transport authority to close the 2012-2015 agreement (–€40 million), − The public service delegation agreement for public transporta- additional profit sharing payments for 2015 (–€10 million includ- tion in the Annemasse region was renewed for a six-year period ing social contribution) and indemnity payments from suppliers starting from January 1, 2016. for €6 million) and in 2014 (supplier indemnities of €26 million), net • In a tight budget environment for local authorities, which could income for 2015 was €355 million, up €44 million. translate into reduced service offers, and increasing competition, particularly on school routes. Recurring cash flow was €968 million in 2015, compared to €930 mil- lion in 2014, or an increase of €38 million. Given the impact of non-recurring items (supplier indemnities, payments to the Île-de- OTHER DEVELOPMENTS OUTSIDE FRANCE France transport authority, additional profit sharing payments), it amounted to €924 million compared to €956 million in 2014, down Sharp increase in activity compared with December 31, 2014, €32 million. reinforced by foreign currency trends: • The impact in 2015 of the 2014 acquisitions of London Sovereign and The Original Tour contributed to the new growth in England. OTHER DEVELOPMENTS IN FRANCE London operations benefited from an improved service offer, but suffered from two days of strikes at the start of the year; Metrolink Business activity was buoyant compared to December 31, 2014: benefited from the full-year operation of the extension of the • Previously operating under a temporary agreement since January 1, tramway network. 2015, the Group now operates the Transvilles de Valenciennes • In Asia, the Group recorded in 2015 the effect of the takeover of network under a definitive agreement (seven-year agreement, the Hong Kong tramway in 2014. 2016-2022). RATP GROUP I 4 I FINANCIAL AND CSR REPORT 2015 • In the Middle East, RATP Dev, together with its local partner SAPTCO, started the Riyadh contract in Saudi Arabia for the cre- 2 • Consolidated results ation, operation and maintenance of the bus service for 10 years. as at December 31, 2015 In the Philippines, RATP Dev started a technical support agree- • The consolidated results are reflected in the following financial ment in Manila to support the operation and maintenance of line 1 indicators: of the Philippine metro for a period of 20 years.