Infotech SNCF could lose up to 5 billion euros in 2020

SNCF could lose up to 5 billion euros in 2020

Hard hit by the health crisis, SNCF could lose nearly 5 billion euros this year, estimated its CEO Jean-Pierre Farandou on Wednesday.

“We are in negative this year. We will end the year with a significant loss ”, said Mr. Farandou before the Senate land use planning committee.

The State promises aid of “several billion euros” to SNCF

“I remind you that in the first half, which gives an idea in the middle of the year, we were in net income at -2.5 billion” euros (precisely -2.39 billion, Editor’s note). “We will not be far from doing x2”, he added.

“I wouldn’t have said that before confinement number 2”, added the leader, who hoped “A less bad second semester” than the first.

Debt flies away

“I am not validating any figure at this stage”, he then wanted to clarify, noting that his calculation was still “A little quick estimate”. “We see that it’s a lot of money. (…) It is as much money that it will be necessary to seek on the financial markets ”, noted Mr. Farandou.

during “All year 2020, we went to the financial markets, to raise money. To repay our loans, to pay salaries, to pay our suppliers… ”, he recalled. “We see the SNCF debt soar. “

Should we come back to the all-TGV policy?

“We will go part of the way by assignments”, he said.

Jean-Pierre Farandou confirmed that the public group had put up for sale the Ermewa wagon rental company, which he estimates at 2.5 billion euros.

No transfer between Geodis and Keolis

The group is considering the sale of the 50% it holds in the locomotive rental company Akiem, but no decision has yet been taken, he added.

“I am clearly opposed to any idea of ​​divesting Geodis and Keolis”, the logistics and public transport subsidiaries of the SNCF group, which “Are at the heart of the company’s strategy”, he stressed, however.

Are the night trains promised by Macron really the future of SNCF?

Jean-Pierre Farandou, who has headed SNCF since November 2019, must be reappointed, as a result of the transformation of the public group into a public limited company on January 1.

The process was delayed, the pandemic having prevented the election of the directors representing the staff in the spring, and his appointment must be validated by the regional planning and sustainable development committees of the National Assembly and the Senate.

Leave a Reply

Your email address will not be published. Required fields are marked *