For 2004, the SYSTRA group registered a net result of Euros 3.5 millions, up 438 per cent in 2003, with a turnover of Euros 177.4 millions.

The two high speed line construction sites in Korea and Taiwan have enabled SYSTRA to preserve a stable level of activity in the Far East. The first stage of the Korean KTX was commissioned on 1st April 2004. China also has a vast potential for development and SYSTRA was awarded there a substantial service contract for Tianxingzhou cable stay bridge, on the future Wuhan - Guangzhou line.

Similarly, Africa / Middle East registered a marked rise in activity with, among others, the Civil Engineering contract for Algiers metro, and the preliminary engineering for the future automatic metro in Dubai, currently the largest urban transportation project worldwide.

In Latin America, SYSTRA’s involvement continues with the metro in Santiago do Chile and the Venezuelan railways.

In France, the major urban transportation worksites are still in production phases, with a very active involvement by SYSTRA : project management for the tramways in Lyons (T4), Bordeaux (2nd phase), Mulhouse, Toulon, Saint-Etienne and line B of the automatic metro in Toulouse ; assistance to owner for the tramways of Reims, Nice, Marseilles and Clermont-Ferrand. SYSTRA also provided services in the railway field through contracts for Réseau Ferré de France and a number of regional councils.

The activity of SYSTRA’s various subsidiaries : MVA, Canarail, SYSTRA Consulting and SOTEC Ingénierie, remains sustained. For 2005, the aim is to achieve a level of activity on a par with that for 2004, with similar profitability ratios.