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SNCF Group 2019 annual results


  • Operating performance linked to continued investment in core programmes targeting safety (-21% fall in major safety events), robust rail service (annual on-time arrivals at a historic high of 89%) and passenger information (notice of delays up from 64% to 79%).
  • Improved customer satisfaction: a historic 85.9% for TER regional rail (+4.2 pts) and 82% for TGV high-speed rail (+3 pts).
  • Group revenue up 5.1%, driven by steady growth in passenger traffic at Voyageurs. Full-year revenue totalled €35.1bn in 2019.
  • The multi-sector strike linked to French pension reforms that began in December saw SNCF go all out to limit consequences for its customers, and led to an operating loss of €614m at year-end 2019.
  • Buoyant business combined with strict financial discipline generated €560m in gains in competitiveness that boosted EBITDA despite the strike, and limited its impact on results.
  • Recurring net profit was a negative €301m (and would have reached a positive €313m without the strike).
  • Investments reached a record high of €10bn (all funding sources combined). Of that total, 95% went into the French rail network, benefitting customers, regional development and suppliers.
  • SNCF recruited 12,600 new employees in France in 2019, with one-third hired for jobs in rail operations. SNCF Group is one of the country’s largest employers.

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