Compagnie des Tramways de Rouen: management transactions · France · AMF

About Compagnie des Tramways de Rouen

Compagnie des Tramways de Rouen (ISIN FR0000031866, ticker MLTRA on Euronext Access) is a French holding company with deep historical roots in the Rouen region, although its current economic profile is that of a portfolio investment vehicle rather than a transport operator. In its 2023 earnings release, the company stated that it is a holding managing an investment portfolio and that it generated no revenue during the year, confirming that its business no longer consists of operating tramway or public transport assets. Today, the company’s value proposition is essentially linked to financial holdings, dividend capacity, and balance-sheet management. Its origins date back to the nineteenth century, when the Compagnie des Tramways de Rouen was established to develop urban transport in Rouen. Historical sources indicate that the first Rouen tram network entered service in 1877 and was later expanded and electrified from 1896 onward. At its peak, the network covered Rouen and surrounding areas, becoming an important part of the city’s industrial-era mobility infrastructure. This railway legacy remains central to the company’s identity, even though the listed entity has long since moved away from day-to-day transport operations. Over time, the operating transport business was transferred into other structures and eventually folded into broader corporate reorganizations. Recent Euronext disclosures show that Compagnie des Tramways de Rouen was part of a wider simplification of the Bolloré group’s holding structure. In November 2024, Euronext announced the completion of the merger by absorption of Compagnie des Tramways de Rouen into Financière Moncey, which effectively ended the company’s independent listed existence. Before that absorption, the company was already notable for its extremely limited operating scale and its financial rather than industrial characteristics. For fiscal 2023, the board proposed a dividend of EUR 37.5 per share, unchanged from 2022, and reported net income of EUR 39.8 thousand. Market data available on Euronext Access and financial portals showed a small-cap, low-liquidity profile, with the company traded as a niche holding rather than a conventional operating business. In summary, Compagnie des Tramways de Rouen is best understood as a historic tramway company that evolved into a portfolio-holding structure within the Bolloré universe before being absorbed by Financière Moncey. For investors, its relevance lay less in operational growth and more in its legacy, its asset-holding profile, and its capacity to distribute cash, rather than in recurring commercial activity.