FRANCE, April 2026 — Transdev’s latest financial results highlight steady growth across international rail and public transport markets, reflecting continued liberalisation and competitive tendering in key regions such as Europe and North America.
The company reported annual revenue of €10.44 billion in 2025, up 4% year-on-year, with net income more than doubling to €96 million and EBITDA rising 5% to €691 million. Growth was driven by contract renewals and new service agreements, particularly in France, Germany, and North America.
A significant development during the year was a shift in ownership structure. On 1 July 2025, the Rethmann Group increased its stake to 66%, becoming the majority shareholder, while Caisse des Dépôts retained a 34% share. This transition followed a €800 million bond issuance used to refinance existing debt and strengthen the company’s financial position.
Operationally, Transdev expanded its rail footprint through key milestones, including the launch of the Marseille–Nice regional rail service—France’s first line opened to competition—which achieved high punctuality and increased service frequency. In Germany, long-term contract renewals further reinforced its position as the country’s largest private rail operator.
The company’s performance underscores a broader industry trend toward liberalised rail markets and private sector participation, with stable ownership and financial restructuring enabling operators like Transdev to scale operations and compete more effectively across international passenger rail networks.
Source: RailMarket
Transdev Reports Revenue Growth As Rethmann Secures Majority Ownership
Engineering Business Management
Share this story
Global public transport operators are strengthening financial performance amid evolving ownership structures and competitive rail markets. Transdev has reported a 4% revenue increase in 2025, alongside a major shift in governance as Rethmann Group becomes its majority shareholder.
