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News update

The latest financial information from SNCF Group

Contact: Axel Bavière

Annual Results 2013

In a difficult economic environment, SNCF Group reported revenue of €32.2 billion in 2013, up a slight 0.5% from 2012 at constant scope of consolidation and exchange rates.

A steep 4.2% rise in infrastructure and engineering at the SNCF Infra division reflected an increase in rail network upgrades (+13.5%), particularly in the Paris region.

Full-year figures show a moderate +1.1% rise in rail business at the SNCF Proximités division (passenger rail services provided under agreements with local and state authorities: Transilien, TER, Intercités and Keolis), a -1.4% decline for the SNCF Voyages division (TGV high-speed passenger rail services), with traffic almost unchanged at -0.7% due to the economic crisis, and a -1.8% decline for the SNCF Geodis division (freight transport and logistics), reflecting an outright recession in freight transport.

The Group as a whole turned in a strong performance, with full-year EBITDA at €2.8 billion, or 8.7% of revenue compared with 8.5% in 2012, reflecting successful cost control and the positive impact of France’s new CICE tax credit (Crédit d’Impôt pour la Compétitivité et l’Emploi).

SNCF Group recruited more than 10,000 new employees in 2013, while achieving structural savings (overheads, purchasing and IT) of over €225 million at the parent company, thus exceeding the target set in its cross-functional performance plan. 

After a €1.4 billion write-down of TGV trainsets, net profit attributable to equity holders of the parent company was a negative €180 million thanks to a robust €582 million in recurring net profit and reversal of the impairment of assets at the SNCF Infra division in an amount of €546 million.

Capital investment reached a record high of over €2.2 billion, fully covered by self-financing capacity.

Free cash flow of €464 million was positive for the third year running, setting a new record, and in keeping with the strategic vision in the Excellence 2020 programme, net debt stabilized at under €7.5 billion.


  • First-quarter 2014 revenue: April 23, 2014
  • First-half 2014 results: July 31, 2014
  • 9-month 2014 revenue:  October 30, 2014