Keolis Group experienced strong growth in 2015, with revenue increasing 12.2% to €5 billion. Growth was driven by both acquisitions, which contributed 3.4% growth, and organic growth of 7.1% from new contracts and increased revenue from existing operations. Profitability also increased, with EBITDA rising 6.6% to €296 million. The financial structure remained solid with a debt leverage ratio of 1.9x, below the authorized limit of 3.5x. International operations saw particularly strong revenue growth of 30% and now represent 44% of total revenue.

1. Strong growth for
the Keolis Group in
2015
KEOLIS
Jean-Pierre Farandou, Michel Lamboley,
Bernard Tabary, Frédéric Baverez
22
March
2016
22/03/16KEOLIS – 2015 RESULTS

2. 22/03/16KEOLIS – 2015 RESULTS2
 2015 was a strong year of growth for the Group: +12.2%.
 This was illustrated by a 6.6% increase in profitability.
 Our international activites experienced record growth of +30%.
 Our French subsidiaries have also done well despite the economic crisis, with a 4% increase in
revenue thanks to business development and efficient actions against fare evasion.

3. 22/03/16KEOLIS – 2015 RESULTS3

4. 22/03/16KEOLIS – 2015 RESULTS4
The 3 pillars of our strategic plan
BUSINESS
Strong and profitable
growth
DIGITAL
Operator of collective
and connected mobility
INTEGRATION
Strengthening the
« One Keolis » identity

5. 22/03/16KEOLIS –2015 RESULTS5
We are preparing the Keolis of tomorrow, for our 56,000 employees and 3 billion passengers.
 Our strategy is based on 3 pillars:
• Business: for us to achieve profitable growth.
• Integration: to create a real Group dynamic, based on a strong identity: One Keolis.
• Digital: to deliver innovative solutions for passenger information, ticketing and validation on passenger
smartphones, in order to make their lives easier.
Thanks to this strategy, Keolis is becoming an expert in mobility solutions.

6. 22/03/16KEOLIS –2015 RESULTS6
New mobility solutions
OBSERVATORY OF
DIGITAL MOBILITY
“IN-HOUSE”
SOLUTIONS
PARTNERSHIPS THAT
COMPLEMENT OUR
EXISTING EXPERTISE

7. 22/03/16KEOLIS –2015 RESULTS7
In terms of passenger mobility, the priority is on new digital solutions.
 Our « in-house » solutions
• PlanBookTicket, a unique mobile application which offers passengers, for the first time in France, the option
of planning their whole journey, buying their ticket and validating it on their smartphone.
 Partnerships that complement our expertise
2 examples:
• Moovit: the world leader in journey planner apps, used by more than 30 million passengers in more than 800
cities.
• One Park: French leader in the online booking of carpark spaces (more than 7,500 hours of parking hours
sold each day in France and close to 80,000 bookings per year).
 A partnership which allows us to go even further to the heart of our business
• Netexplo, the international observatory for digital innovation, with which we launched our digital mobility
observatory, with the perspective of future passenger mobility.

8. 22/03/16KEOLIS – 2015 RESULTS8
The conquering of new territories
New mobility solutions
THE FRENCH « GOOGLE CAR »

9. 22/03/16KEOLIS – RESULTATS 20159
 Commercial partnerships to conquer « new markets »
Keolis has signed two key new partnerships to complement its multimodal strategy.
 LECAB, one the leading providers of private taxis in France
Created in Paris in 2012 by Benjamin Cardoso, LeCab offers a unique, trustworthy, high-end private taxi service.
Thanks to a standardised fleet of Peugeot 508 cars and the creation of a training academy, LeCab has developed
considerable expertise in the French private taxi market. The company works with 1,500 drivers, counts more than
250,000 customers and 3,000 member companies. By partnering with LeCab, Keolis is boosting its mobility offering
by integrating personalised transport solutions. This commercial and strategic partnership will strengthen Keolis’
position as a multimodal operator and enable LeCab to accelerate its growth. LeCab is currently the number one
provider of private taxis in Paris, and could use Keolis networks in France to speed up the development of its
activities outside the Paris region.
 Navya, designer and manufacturer of driverless electric shuttle buses
This Lyon start-up designs and manufactures collective transport vehicles that are 100% electric and automatic.
Without a driver, these intelligent and innovative shuttle buses can transport up to 15 people and safely run at
speeds of up to 45km/h. With this new partnership, Keolis will operate the fleet of automatic shuttles. It will also
partner up with Navya for contract bids on short distance journeys. This transport mode is a new unavoidable form
of mobility in the mid to long term, and strengthens Keolis’ multimodal offering.
With these two new partnerships, Keolis will be well established in the market for new mobility solutions.
With more than ten different transport modes available on its networks, Keolis successfully provides new modes of
transport to meet citizens’ ever-growing mobility needs.
KEOLIS – 2015 RESULTS

10. 10 KEOLIS – 2015 RESULTS
Michel Lamboley2
Group Executive Vice-President &
Chief Financial Officer
22/03/16

11. 22/03/16KEOLIS – 2015 RESULTS11

12. 22/03/16KEOLIS – 2015 RESULTS12
Annual revenue multiplied by 2.6 over the past 10 years…
* Including the IFRS 10-11 for 2013-2015, but excluding UK minority partnerships and Holland between 2005 and 2012
2005
1 944
2006
1 975
2007
2 036
2008
2 378
2009
2 647
2010
3 249
2011
3 562
2012
4 033
2013
4 138
2014
4 459
2015
5 002 €M
+ 10%CAGR since 2005

13. 22/03/16KEOLIS – 2015 RESULTS13
 Revenue for the group has multiplied by a factor of 2.6 in 10 years.
Equivalent to average growth of +10% per year to achieve annual revenue of €5,002M using constant
standards

14. 22/03/16KEOLIS – 2015 RESULTS14
…44% of this was achieved internationally in 2015
2005
1 496
448
1 944
2006
1 570
406
1 975
2007
1 665
371
2 036
2008
1 812
566
2 378
2009
2 021
626
2 647
2010
2 245
1 004
3 249
2011
2 366
1 196
3 562
2012
2 629
1 405
4 033
2013
2 735
1 403
4 138
2014
2 798
1 662
4 459
2015
2 819
2 183
5 002
23%
77%
44%
56%
€MINTERNATIONAL
FRANCE
X5
X2 + 10%CAGR since 2005
* Including the IFRS 10-11 for 2013-2015, but excluding UK minority partnerships and Holland between 2005 and 2011

15. 22/03/16KEOLIS –2015 RESULTS15
 Excluding our English franchises, 44% of Keolis’ revenue was achieved internationally.
In 10 years:
• Keolis’ revenue earned internationally has multiplied by a factor of 5
• Keolis’ revenue earned in France has multiplied by a factor of 2

16. 22/03/16KEOLIS – 2015 RESULTS16
Strong growth in annual revenue…
TO 2014
Published
accounts
TO 2015
Published
accounts
4 459
5 002
+€543M
+12.2%

17. 22/03/16KEOLIS – 2015 RESULTS17
 Annual revenue for the group increased by +€534M / +12.2% in 2015

18. 22/03/16KEOLIS – 2015 RESULTS18
Strong growth in annual revenue…
TO 2014
Published
accounts
Foreign
exchange
Acquisitions TO 2015
Published
accounts
4 459
+1.7% +3.4%
5 002
73
153
+€543M
+12.2%

19. 22/03/16KEOLIS –2015 RESULTS19
 Strong growth in annual revenue that can be explained by:
• An exchange rate effect of +€73M / +1.7% due to appreciation of the Euro compared with the British
pound and Amercian and Canadian dollars in 2015.
• A scope effect of +€153M / +3.4% resulting from targeted external growth of the group. This included
the acquisition of the Striebig Group at the end of 2014 in Alsace, France, the purchase of the ATE Group in
Australia which was integrated from May 2015, the takeover of several companies in Belgium and the new
joint venture with Nettbus in Denmark.

20. 22/03/16KEOLIS – 2015 RESULTS20
….thanks to essentially organic growth…
2014
revenue
Foreign
exchange
Acquisitions 2015
revenue
4 459
+1.7% +3.4%
+3.9% +3.2%
5 002
73
153
172 145
+7.1%
+€543M
+12.2%
Portfolio Base
Organic growth

21. 22/03/16KEOLIS –2015 RESULTS21
 Between 2014 and 2015 the majority of growth in revenue came from « organic » sources, and
accounted for as much as +7.1% internationally.
This was a result of both our portfolio (major contracts) and growth in our base revenue (longstanding contracts
for the group):
• Portfolio effect of +€172M / +3.9%: Full year of the contract in Boston, USA, and the start of operations
for DLR in London, UK.
• Growth of base revenue of +€145M / +3.2M%: Divided between the different workstreams across all the
geographical zones where Keolis operates.

22. 22/03/16KEOLIS – 2015 RESULTS22
…accompanied by greater profitability…
EBITDA 2014
Published
accounts
EBITDA 2015
Published
accounts
278
296
+€18M
+6.6%

23. 22/03/16KEOLIS – 2015 RESULTS23
 Recurring EBITDA grew by +€18M / +6.6% between 2014 and 2015.

24. 22/03/16KEOLIS – 2015 RESULTS24
…accompanied by greater profitability…
EBITDA 2014
Published
accounts
Exchange
rate
Acquisitions EBITDA 2015
Published
accounts
278
296
+€18M
+6.6%
-1.9% +6.8%
(6)
19

25. 22/03/16KEOLIS –2015 RESULTS25
 Greater profitability can be explained by:
• A favourable exchange rate of -€6M / -1.9%: especially for our American operations.
• A scope effect of +€19M / +6.8%: the increase in the profitability of our acquisitions was greater than the
increase in our annual revenue (+3.4%). This confirms the successful integration of these operations in
accordance with the business plans developed at the time of investment.

26. 22/03/16KEOLIS – 2015 RESULTS26
…accompanied by an increase in profitability…
EBITDA 2014
Published
accounts
Exchange
rate
Acquisitions EBITDA 2015
Published
accounts
278
-1.9% +6.8% -3.7% +5.4%
296
(6)
19 (10)
15
+1.7%
+€18M
+6.6%
Portfolio Base
Organic growth

27. 22/03/16KEOLIS – 2015 RESULTS27
 Organic growth in profitability of +1.7%:
• A portfolio effect of -€10M / -3.7%: this counter-performance can be explained by the financial loss
recorded in Boston during the first year of the operations contract. However this was partly counterbalanced by
the positive contribution of the new DLR contract in London.
• An increase in our base revenue of +€15M / +5.4%: the increase in profitability of our longstanding
contracts is more significant than the corresponding increase in revenue (+3.2%). Once again the group has
met its objective to strengthen its margins.

28. 22/03/16KEOLIS – 2015 RESULTS28
…while preserving a solid financial structure
€M 2014 2015
CAPEX 236 228

29. 22/03/16KEOLIS – 2015 RESULTS29
 CAPEX remained relatively stable at approximately €230M in 2014 and 2015.

30. 22/03/16KEOLIS –2015 RESULTS30
…while preserving a solid financial structure
€M 2014 2015
CAPEX 236 228
Share
acquisitions:
€125M
Net financial debt 608 791+€183M 791

31. 22/03/16KEOLIS – 2015 RESULTS31
 The financial debt of the group increased by €183M largely due to its strategy of targeted external
growth which required a cash outflow of €125M.
 The main acquisition in 2015 was the ATE Group in Australia, the 5th largest private bus operator in
the country with close to 1,000 buses and 1,600 employees.

32. 22/03/16KEOLIS – 2015 RESULTS32
…while preserving a solid financial structure
€M 2014 2015
CAPEX 236 228
Net debt 608 791
Leverage 1,5 x 1,9 x
Authorised leverage ratio 3,5 x 3,5 x
+€183M 791

33. 22/03/16KEOLIS – 2015 RESULTS33
 Our financial structure remains solid.
• Our debt leverage, calculated as the ratio comparing the level of debt to the EBITDA generated over a year,
was contained at 1.9x. It remains well below the 3.5x limit set by bank documentation.
• The group refinanced its corporate debt in 2015 which allowed it to increase its borrowing capacity from
€800M to €900M and to extend its debt maturity to 2020.
• This situation allowed the group to increase its financial capacity for future investments, including
for external growth.

34. 22/03/16KEOLIS – 2015 RESULTS34
Summary of 2015
STEADY
GROWTH
SOLID
FINANCIAL
STRUCTURE
ANNUAL REVENUE
X 2.6
in 10 years
 Annual revenue multiplied by a factor of
2.6 in 10 years
 x5 internationally since 2005
 x2 in France over the same period
DEBT LEVERAGE
1,9x…all while preserving a solid financial
structure
ANNUAL REVENUE
+12,2%
in 2015
 Strong growth in annual revenue…
 +3.4% as a result of acquisitions, and
 +7.1% in organic growth including:
o +3.2% in base revenue
o But also +3.9% thanks to new contracts
PROFITABILITY
+6,6%
in 2015 … accompanied by an increase in
profitability
 Good integration of acquisitions and maintenance
of a strong base

35. 35 KEOLIS – 2015 RESULTS
Bernard Tabary3
CEO, International
22/03/16

36. 22/03/16KEOLIS –2015 RESULTS36
Boston case study
International
Best operational performance
in 10 years
PUNCTUALITY
94%
REVENUE
+3%

37. 22/03/16KEOLIS – 2015 RESULTS37
The action plan launched in Boston has shown results.
 Between July and December 2015, the operational performance was the best it has been in 10 years,
with an average punctuality rate of 94% and commercial revenue increasing by +3%.
 The number of late trains fell by 25% and patronage increased by 3% over the same period.
 We established a strong working relationship with the transport authority, MBTA, and we are
continuing to work together to deliver the best possible service to our passengers.

38. 22/03/16KEOLIS – 2015 RESULTS38
2015, a year of consolidation and successful launches
International

39. 22/03/16KEOLIS – RESULTATS 201539
In the
UK:
DLR:
 Excellent start to new contracts:
- Takeover in December 2014, seamless transition for passengers
- In just one year of operations we exceeded our objectives: 99% punctuality rate (objective was 98%), 88%
customer satisfaction rate (objective was 86%)
- Since the start of the franchise we have had a strong collaborative relationship with the transport authority TfL.
 Strengthening our presence in key markets, for example:
- In the United States, with the renewal of our operations contract for the Virginia Railway Express for a further five
years. We have operated this service since 2010 and since this time customer satisfaction has reached 92%.
- Extension of the Nottingham tram network, which doubled in size in 2015 (32km in total). 8 million passengers
used the tram in 2015, and this number should double in 2016. 96% customer satisfaction rate in 2015.
- Renewal of the operations contract for the London Midland franchise until October 2017. During the initial
contract our punctuality rate increased from 79.8% in 2013 to 90% in 2015.
- In Germany we consolidated our presence in the rail sector, in the north Rhine-Westphalia region:
- Renewal of the operations contract for the Hellweg Netz franchise: 5.9 million train-km / cumulated annual
revenue of €955M over 12 years
- Won a new 15 year contract for Teutoburger Wald (starting in December 2017): 5.3 million train-km
- In Norway our contract for the operation of the Bergen tram network was extended by two years until July 2018, and
phase 3 of the project is currently under construction, with 7km of additional track which will service the airport.
- In Holland we won a new rail franchise in Zwenzwoka in the province of Overijssel in the east of the country. The
contract will commence in December 2017 for a 15 year term.
KEOLIS – 2015 RESULTS

40. 22/03/16KEOLIS – 2015 RESULTS40
 Diversification into other modes of transport:
• Through an acquisition: ATE in Australia
- Keolis becomes Australia’s number one private multimodal operator.
- Present in four states: South Australia (Adelaide), Western Australia (Perth), Queensland (Brisbane) and also in
Victoria (Melbourne) where we were already operating the tram network.
- 136 million euros in revenue in 2014
- 1,000 buses et 1,600 employees
• Through the winning of new contracts:
- Keolis Denmark, win in Aarhus (2nd largest city in Denmark):
- 1st light rail contract in Denmark
- 1st contract won since the creation of the joint venture with Nettbuss
- Characteristics: tram in the city centre and tram train outside the city to cover low-density areas
- 12km of new track, 98km of existing heavy rail track
- Launch in spring 2017

41. 22/03/16KEOLIS – 2015 RESULTS41

42. 22/03/16KEOLIS – 2015 RESULTS42
Outlook for 2016
International

43. 22/03/1643
The action plan launched in Boston has shown results.
Planned extensions in 2016
 Gold Coast, Australia: Excellent results since the launch of the network
99.45% fleet availability (number of trams in service vs the number scheduled), 97% of services on time (arrive
less than 2 minutes after their scheduled time) over a 6 month period
88.9% customer satisfaction in December 2015. Patronage: 22,000 passengers per day.
• Planned extension of the tram network. Keolis is currently in exclusive negotiations for the operation of this
network. The extension will be launched in July 2018: +7.5km, with a train interchange servicing Brisbane.
 Melbourne, Australia: We are currently in exclusive negotiations for the extension of the current operations
contract. The new contract will start in June 2017.
In terms of business development
In the UK, Continental Europe, North America and Australia we are pursuing a development and diversification
strategy in all modes of transport.
Asia, Middle East and Africa region:
 We have development ambitions in the Middle East: we have signed strategic partnerships in which Keolis is
the majority shareholder, to respond to various tender bids in the region. Partnerships: Emirates Transport
in the United Arab Emirates, Nesma in Saudi Arabia.
KEOLIS – 2015 RESULTSKEOLIS – 2015 RESULTS

44. 22/03/16KEOLIS – 2015 RESULTS44
Outlook for 2016 : new automatic metros
Line 8
LILLE
1983
LYON
1991
RENNES
2002
LONDRES
2014
HYDERABAD
2016
SHANGHAI
2018
LILLE
44.3km & 105 million
passengers a year
RENNES
8.5km & 80 million
passengers a year
LYON
12.5km & 80 million
passengers a year
LONDON
72km & 101.5 million
passengers a year

45. 22/03/16KEOLIS – 2015 RESULTS45
 Hyderabad:
• Launch of the first phase of the metro in Hyderabad, India’s 5th largest city.
We are ready on an operational level: ISO 9001 certification, rolling stock tested, 450 employees trained in
operations, driving, maintenance, customer service. This launch will be a showcase, especially for other major
Indian cities which are looking at building a metro network.
 Shanghai :
Keolis is finalising a contract for the operation of line 8 of the Shanghai metro.
• Launch scheduled for 2018
• 30 stations
• 1 million passengers expected per day
• 37km of track, underground and overground metro network

46. 46 KEOLIS – 2015 RESULTS
Frédéric Baverez4
CEO, France
22/03/16

47. 22/03/16KEOLIS – 2015 RESULTS47

48. 22/03/16KEOLIS – 2015 RESULTS48
Successful conservation of our contract portfolio
BID WINS
€146M
in revenue
BALANCE OF CONTRACTS
WON/LOST
+€35M
in revenue

49. 22/03/16KEOLIS – 2015 RESULTS49
2015 was a year with relatively limited number of tenders but this allowed us to consolidate our
portfolio:
 Renewal of urban contracts in Alès, Chantilly, Châteauroux, Dreux, Honfleur, Vesoul, accessible transport
service in Nice, on-demand transport in Rouen, preschool staff transport in Le Mans.
 Offensive bid wins for urban networks in Beaune, Bourgoin-Jallieu and Miribel.
 Renewal of many interurban and specialised transport contracts.
The markets won in France in 2015 represent 146M€ of full-year revenue. The balance between offensive bids and
defensive losses is positive at 35M€ of full-year revenue.

50. 22/03/16KEOLIS – 2015 RESULTS50
Maintenance of strong commercial revenue
 +8.5% revenue in Bordeaux
+4.0%
in our urban networks
+2.3%
increase in patronage

51. 22/03/16KEOLIS – 2015 RESULTS51
 +4.0% increase in commercial revenue for our 16 largest networks – which account for 95% of our
revenue – for a patronage increase of +2.3%. Performance results above the industry average.
 This increase is significant in a slow economic climate and at a time not especially favourable to public
transport following the terrorist attacks of January and November 2015.
 These results were achieved by our increasingly targeted strategy for increasing patronage and
creating passenger loyalty, but also our campaign against fare evasion, which has been a priority since
2014. Tangible results have been seen particularly in Lille, Lyon, Bordeaux and Orléans.
 As for our commercial revenue, we can highlight the excellent performance of Bordeaux under the
new public service contract which commenced in January 2015: +8.5% more revenue than our contract
objectives. There were an additional 5 million passengers in 2015, equivalent to a 3.9% increase in patronage
compared to 2014. The rate of fare evasion also decreased from 11.2% in 2014 to 10.1% in 2015.

52. 22/03/16KEOLIS – 2015 RESULTS52
Active external growth
TRANSPORTS DANIEL
MEYER
(Ile-de-France)
STRIEBIG
(Alsace)
FOUACHE
(Pas-de-Calais)

53. 22/03/16KEOLIS – 2015 RESULTS53
 Successful integration of Striebig, acquired in December 2014.
 Acquisition of Fouache coaches finalised in October (Pas-de-Calais, revenue: €6M).
 Acquisition finalised on 5 January 2016 of Transports Daniel Meyer (Essonne, revenue: €43M).
This operation is strategic ahead of the opening of the market around the Ile-de-France region.
 Other networks are currently being analysed which could result in some being won in 2016.

54. 22/03/16KEOLIS – 2015 RESULTS54
Digital: accelerating development of passenger services
Lille
Lens-Artois
Amiens
Orléans
Brest
Quimper Laval
Cherbourg
Chateauroux
Bordeaux
Montargis
Saint-Malo
Strasbourg
(2016)

55. 22/03/16KEOLIS – 2015 RESULTS55
 In 2015 we presented our digital strategy based on the development of an integrated
« PlanBookTicket » application, greater understanding of digital habits of passengers via our Netexplo
partnership and via the support of transport authorities in relation to Open Data.
 We also announced the creation of Kisio, the new Solutions & Services division of Keolis, following the
merging of several entities within the group focused on digital and ticketing projects, and more broadly on
passenger service solutions.
 In terms of mobile apps, in 2015 we accelerated the deployment of the Mobility Assistant, the first phase
in our overall PlanBookTicket product offering, which provides multimodal passenger information as part of a
single smartphone application. Nine French networks are already equipped with this app, including Lille and
Bordeaux.
 We have also established our initial references for the two other phases of our PlanBookTicket app, namely
remote ticket purchasing and e-ticketing for smartphones.

56. 22/03/16KEOLIS – 2015 RESULTS56
French markets: outlook for 2016
URBAN
Renewal of a quarter of
French revenue in 2016
INTERURBAN
Adapting to the NOTRe law

57. 22/03/16KEOLIS – 2015 RESULTS57
 Above all 2016 will be marked by a significant series of tenders, with over €700M of contracts coming
up for renewal, including the urban contracts for Lyon (the largest public service delegation contract in Europe),
Dijon, Artois-Gohelle, Laval, Narbonne and Quimper.
 At the same time, we will be adjusting to major industry changes as a result of the NOTRe law for the
interurban transport market. This law will see the transfer of authority for transport from Departments to
Regions, starting from 1 January 2017 for regular lines and 1 September 2017 for school lines. 2016 should
therefore see the consolidation of interurban transport players being accelerated, and Keolis intends to take an
active role in this process.

58. 22/03/16KEOLIS – 2015 RESULTS58
EFFIA: strong n°2 in the French market
Parking
Outlook for 2016
close to forty bids
Organic
development
External growth
360
Carparks
&
141 000
Car spaces
+40 local
collectivities
Commercial
zones
Hospitals
and clinics

59. 22/03/16KEOLIS – 2015 RESULTS59
 Pursuing organic development
EFFIA won 10 new contracts and renewed 5 existing ones. Among the most significant ones it won, we can
cite the DSP for parking in Massy, the beachside carparks in Marseille, off-street parking in Béziers and the new
Courtine carpark for greater Avignon.
 External growth
For the first time since Keolis took over EFFIA in 2010, we have taken part in external growth activities.
We first acquired the carparking activities of Ramery group, which strengthened our position in the north. More
strategically, we achieved in 2015 – announced on 5 January 2016 – the acquisition of Saemes, SEM parking for the
city of Paris. With a stake of over 33%, we are therefore a leading shareholder alongside the City of Paris. With
more than €40M in revenue, Saemes is the second largest carpark operator in the Ile-de-France region. It is a very
important contract in strategic terms because it strengthens our position in the region, which represent roughly
40% of the French carpark market.
 Outlook for 2016
EFFIA intends to continue its organic growth by bidding for around 40 different contracts in 2016. We
hope to win a first contract in Benelux, where we have already bid on several contracts and will know the results in
2016. The first EFFIA contract abroad will also be an important step in its development.

60. 22/03/16KEOLIS – 2015 RESULTS60
2015, a year of strong and sustainable growth
3,800
Recruitments in France
+30%
International growth

61. 22/03/16KEOLIS – 2015 RESULTS61
 2015 summary:
• Great figures: very good growth, profitability, controlled debt.
• Our international subsidiaries had a record year.
• France did very well, despite difficult economic conditions. Keolis recruited 3,800 new permanent
employees in France in 2015.

62. 22/03/16KEOLIS – 2015 RESULTS62
Question time