Keolis 2022 results: revenues up 9% on 2021

Keolis has today disclosed its results 2022. The group achieved an organic growth of 9.1% in group revenues, which reached €6.7bn. Furthermore, the company attained a recurring EBIT of €209 million, with a margin of 3.1%. Despite a decrease in recurring EBITDA due to the exit from Germany and termination of a contract in the UK, Keolis still managed to increase its net profit by €28 million from 2021 to €48 million in 2022.

Moreover, Keolis reduced its net financial debt by €56 million from the previous year, thanks to strict financial discipline and free cash flow of €94 million in 2022.

Keolis, energy transition in the spotlight

Keolis aims to reduce greenhouse gas emissions by 30%, triple the number of kilometers operated with alternative energies by 2030, and certify 80% of its turnover to the ISO 14001 standard. Keolis has new electric buses in Copenhagen, supports hydrogen development in Dijon, and energy mix strategies in Orleans. In 2022, over a third of total kilometers operated were traveled using alternative energies, and almost 60% of Keolis operations are covered by ISO 14001 certification. What is interesting, Keolis partners with Iveco France and Forsee Power to improve knowledge of electric bus battery ageing.

Keolis 2022 in France

France was an excellent market for Keolis in 2022, as the group states, with many core contracts renewed and extended, and numerous new contracts won. The company won new contracts in Perpignan and Valenciennes and renewed contracts in cities such as Bordeaux, Dijon, Sète, Bourgoin-Jallieu, and Strasbourg. Additionally, Keolis launched several major projects, including Line B of the automated metro in Lyon, the T13 light rail line in the Paris region, and Line B of the automated metro in Rennes.

Keolis on the international markets

On international markets, Keolis pursued its selective growth and repositioning strategy, notably via the sale of operations in Norway. The company launched two major light rail networks in Lusail (Qatar) and Odense (Denmark), and won a multimodal contract in Lund, Sweden. Keolis also secured renewals, including a three-year contract to operate Thameslink, England’s largest rail network, and extended contracts to operate the automated metro in Hyderabad, a bus line in Denmark’s Northern Jutland region, and the bus network in the Dutch city of Utrecht.

“Public transport ridership gradually returning to near pre-Covid levels”

Marie-Ange Debon, Keolis Chief Executive Officer, comments: “Keolis turned in a very strong performance in 2022 thanks to dynamic business development in France, and internationally, which helped strengthen our market positions. Our quest for operational excellence in core business lines has been and continues to be an absolute priority, with a special focus on delivering quality passenger service that public transport authorities expect. With public transport ridership gradually returning to near pre-Covid levels, we swung into action in early 2022 to address the labour shortage, rolling out a proactive recruitment programme to attract and retain new employees. Once again in 2022, Keolis showed that we can successfully deploy skills and operational expertise. Examples include the launch of Metro Line b in Rennes, and our performance at major international events, including the World Cup in Qatar and the Australian Open in Melbourne. Buoyed by these results and commitments, Keolis Group takes an optimistic view of the future, despite the challenges, as we deliver quality execution and pursue a selective strategy.”