SNCF Group reported strong momentum in 2018, despite a major impact of the rail strike in spring. In these exceptional conditions, SNCF remained on the offensive, demonstrating its capacity to serve customers while pursuing record high investments and trimming costs. And its efforts paid off, with a strong rebound in the second half of the year and a rise in results from 2017. Buoyed by the first effects of French rail reform, coupled with a fundamental transformation in operations, the business model underpinning its high-speed rail service marked a turning point and TGV recovered its full appeal.

• €33.3bn in revenue, up +1.3%, despite the rail strike in the spring.
• In the second half, business grew +3.4% and margin was up over 2017. At 31 December 2018, EBITDA stood at €4.0bn.
• €530 million in performance gains in 2018 helped limit the strike’s impact on results.
• Net profit was +€141 million.
• €8.9bn invested in rail infrastructure and rolling stock