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News update

The latest financial information from SNCF Group

Contact: Axel Bavière
finance@sncf.fr


RESULTS
FOR THE FIRST HALF
OF 2014

With the French economy still struggling, SNCF Group is continuing its drive to become the global benchmark for excellence in mobility and logistics services.

Revenue totalled €16.0 billion at 30 June 2014, up 0.8% from the first half of 2013 at constant scope of consolidation and exchange rates.

The major loss in revenue caused by the rail strike in June—nearly €210 million—undermined the rally experienced at the beginning of the year. As a result, business in France was down 0.4%.

Operations not affected by the strike did well, especially those outside France.

Revenues from international business rose 5.6%, bearing out the Group’s growth strategy. Keolis in particular reported a 6.8% rise in revenue, with 14.0% outside France.

Despite on-going efforts to boost operational efficiency and cut costs, EBITDA was down by €229 million. Two-thirds of this decline (nearly €170 million) resulted from the strike. Continued rises in track access charges, particularly for TGV high-speed rail operations, accounted for the rest.

Following the strike, SNCF Group adopted additional measures to cut structural costs further and reduce investments. Its aim is to offset the two-thirds reduction in EBITDA caused by the strike and meet targets for free cash flow and debt.

Net profit was a positive €224 million.

Investment rose during the period to nearly €1.1 billion, while net debt was lower than at the end of June 2013.

UPCOMING ANNOUNCEMENTS:

  • 9-month 2014 revenue: October 30, 2014