The station posted a net loss of 980 million euros in 2009
March 24, 2010
The station announced a net loss of 980 million, paying a year marked by crisis and massive write-downs, and it does not anticipate "clear recovery" from his business in 2010.
The public group of railway issued an operating loss of 460 million euros, against a profit of 856 million euros in 2008.
The assets of Fret SNCF, in the branch station Geodis, have been depreciated to the tune of 721 million euros plus 245 million for impairment of assets maintenance of its railway network SNCF Infra.
Without the impairment in the freight operating margin recurring division of Geodis is 318 million euros, the company said.
The annual net loss compares with a profit of 575 million in 2008 and 1.11 billion in 2007.
Revenues fell 3.6% in 2009 at constant scope and exchange rates, to 24.88 billion euros.
The operating margin, which was recovered in the second half, remains positive at 1.69 billion euros, thanks to conservation measures of 550 million euros, the company said.
Net debt has meanwhile increased by 19% to 7.172 billion euros at end 2009.
"The 2009 results confirm (…) structural problems masked by the benefits of TGV and whose resolution has been delayed too long," said the president of the SNCF, Guillaume Pepy, in a statement.
"SNCF does not anticipate further deterioration of the economic situation, or free recovery," the group confirms its growth target of 4% of its turnover in 2010 to 30 billion euros.
The public company has not discussed the possibility of paying a dividend to the state or its employees. Last year, it distributed 183 million dividend to the state shareholder.
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