Finance: SNCF Group essentials

SNCF has been a part of French life for 80 years—but we’re changing dramatically today. Our total commitment to rail and tomorrow’s sustainable mobilities makes us a vital player in the transition to a greener world.

Published on 22/03/2024

Updated on 31/03/2025

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Carte d'identité du groupe SNCF en 2025

PR - SNCF Group 2024 Full-Year Results

PRESS RELEASE

SNCF GROUP (SINCE 2020)

EnglishPDF • 1.1MB

Rapport financier annuel 2024 Groupe SNCF

FINANCIAL REPORT

SNCF GROUP (SINCE 2020)

EnglishPDF • 12.5MB

Fast facts

Active in France and around the globe, SNCF is a world-class player in rail with 28,000 km of track and 290,000 employees. Our indicators give an idea of the core role we play in people’s lives nationwide and its many ramifications:

€43.4 billion revenue (the world’s second largest transport company)
€10.8 billion invested annually, 95% in France

Following the 2022 transfer of debt to the French State, our improved results will allow a marked decline in borrowing and a recovery in key ratios in line with our commitments.

We carry
15m
passengers every day, in France and around the world
We are France’s
1ˢᵗ
largest issuer of green bonds in France in the transport sector (4^th all sectors combined)
We generate
1/3
of our revenue outside France

Group results since 2019
In € billions	2019	2020	2021	2022	2023	2024
Revenue	35.1	30.0	34.8	41.4	41.8	43.4
EBITDA	5.7	1.9	4.3	6.6	6.4	7.0
Investments all types of financing	10.0	8.9	10.3	9.9	10.6	10.8
Investments financed by SNCF	5.2	3.7	3.6	3.9	4.6	4.9
Free cash flow	-2.4	-2.8	-0.7	1.3	2.5	1.6
Net debt	-60.3	-38.1	-36.5	-24.4	-24.2	-24.8
Net debt/EBITDA¹ (years)	10.7	19.7	8.4	3.7	3.8	3.6
Net debt/total equity (years)	-7	3	2.5	0.9	0.9	0.9

Our corporate structure

SNCF Group is organized around 7 companies covering key business areas, including a parent company: SNCF SA.

Our 7 public limited companies

SNCF SA (holding)
SNCF Réseau manages the French rail network
Visit the SNCF Réseau website
SNCF Gares & Connexions manages manages France's 3,000 stations
Visit the SNCF Gares & Connexions website
SNCF Voyageurs, SA provides regional and long-distance passenger rail service
Visit the SNCF Voyageurs website
Keolis specializes in mass transit in France and around the world
Visit the Keolis website
GEODIS delivers supply chain optimization and related services, freight forwarding, contract logistics and more
Visit the GEODIS website
Rail Logistics Europe focuses primarily on rail freight
Visit the Rail Logistics Europe website

The impact of rail reform

This structure was created under a 2018 law reforming the rail sector in France. Its primary effects were to:

strengthen the oversight and support role of our parent company, SNCF SA
convert 4 Group entities into public limited companies (societés anonymes) wholly owned by the French State
group all domestic and cross-border passenger activities into SNCF Voyageurs SA

Carte de nos activités internationales

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