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Tuesday, June 18, 2024

Record investment in French rail infrastructure

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France’s new combined infrastructure manager, SNCF Réseau, is to invest a record €4.9 billion in enhancing and maintaining the national rail network in 2015.

Announcing its annual results, SNCF Réseau said it planned to recruit 2,000 new employees to meet the demand for maintenance work.

In January, SNCF Infra, which was responsible for maintenance and traffic control, was combined with infrastructure manager RFF to create SNCF Réseau.

In 2014, RFF’s revenue grew by 4 per cent to €5.9 billion. The organisation’s operating margin also increased, rising 8 per cent to €2.1 billion.

RFF’s operating income fell to €1.2 billion resulting in a net loss of – €213 million. RFF’s debt subsequently rose to €36.8 billion by the end of 2014.

The SNCF group as a whole has recorded an increase in turnover in 2014 despite a challenging year, which included a two-week strike in June.

Turnover increased by 1.5 per cent to €27.2 billion in 2014 thanks in part to SNCF’s international activities, which grew by 7 per cent in the past year.

Net profit improved to €605 million compared to – €180 in 2013 caused by the €1.4 billion depreciation in TGV rolling stock. SNCF said it had stabilised its €7.4 billion debt and recorded investments of €2.2 billion.

Announcing its outlook for 2015, SNCF said it had ‘ambitious’ goals to increase revenue by 3 per cent and international revenue by 27 per cent.

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