SNCF Group posts net profit and accelerates investment in France’s rail industry.

Financial highlights:

• Stable revenue at €43bn, supported by sustained growth in rail ridership (revenue up 3% at SNCF Voyageurs)
• Improved margin, with an EBITDA of €7.6bn, or 17.8% of revenue (vs 16% in 2024)
• Group net profit of €1.8bn
• Massive investments of €11bn, with 52% self-financed (+17% vs 2024) and 95% channelled into the French rail sector
• Positive free cash-flow of €1.7bn, enabling a €1.6bn dividend to shareholder the French State, through its fonds de concours
• Net debt down by €470m, improving the net debt/EBITDA ratio to 3.2x (vs 3.6x in 2024)
• Standalone credit profile affirmed by all rating agencies, reflecting robust financial fundamentals and a strong trajectory.

CSR highlights:

• France’s top recruiter with 26,800 new hires, including 16,300 on permanent contracts
• Group worldwide environmental footprint reduced, with greenhouse gas emissions down 6.5% (vs 2024)
• CSR performance recognised by rating agencies, with an EcoVadis score of 89/100 (up 4 points) and an A rating from CDP (Carbon Disclosure Project), vs B en 2024
• Procurement volume totalled €20.8bn, with €17.5bn (84%) spent in France across more than 20,000 suppliers—including 12,500 SMEs—and supporting 270,000 indirect jobs
• 675 non-profit projects supported by the SNCF Group Foundation.