SNCF Group has announced annual results for 2020, reflective of the economic impact of the Covid-19 crisis.
Revenue came to €30bn, down 14% from 2019 or €6.8bn, reflecting the impact of the pandemic. EBITDA stood at €2.0bn, with a net loss of €3.0bn, including €5.4bn due to Covid-19. A crisis response plan for core operations combined with unprecedented cost-cutting from April on had a positive €2.5bn impact on SNCF Group’s cash position at year-end 2020. On international markets, Keolis and Geodis have ongoing, selective growth targets. The two companies are considered strategic assets that will serve as growth drivers for the future, contributing to Group resilience and profitability.
With passenger rail in France set to open up to competition, the Group is approaching the challenge from a winning position. It has increased its exchanges with mobility organising authorities to offer customised strategies and solutions.
Total Group revenue dropped 14.2% to €30bn, while its EBITDA, constituting 6.6% of total revenue, fell to €2bn in 2020, a considerable fall from €5.6bn in 2019.
SNCF Réseau, management, operation and maintenance of the French rail network, plus railway engineering, revenues fell by 9%, to €5.9bn, with track access fees hit by reduced transport offerings.
SNCF Gares & Connexions revenue dropped 4%, to €1.4bn, due in particular to income from retail tenants falling a steep 31%.
SNCF Voyageurs, consisting of Transilien, TER and Voyages SNCF, revenues decreased by 28%, to €12.1bn
Keolis revenue saw a drop of 8%, to €6.1bn. The segment had been awarded several contracts in Denmark, Sweden and the US; and extensions for two contracts in London.
TFMM rail & multimodal freight transport revenues fell by 12%, to €1.5bn.
Geodis is its only segment to have seen an increase in revenues. Its revenues went up by 4.5%, to €8.4bn in 2020, with a record second half buoyed by e-commerce operations in contract logistics and freight forwarding. Geodis sales on international markets rose by over 8%, with the most notable gains in Asia and the Americas. Geodis has also acquired Pekaes, aiming to expand its presence in Poland.
Jean-Pierre Farandou, Chairman and CEO of SNCF group, said, “Today we are ready to move; we are determined to seize opportunities in our sector and expand in all types of mobility in France and abroad. The rail recovery plan approved by the French government will help revitalise our network and strengthen the rail industry. And we will prove our capacity to offer customised, competitive solutions to each by responding to every call for tender for passenger rail operations in France.”
Source: SNCF
