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The latest financial information from SNCF Group
Contact: Axel Bavière
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.