What is the profit of the SNCF in France?

The state-owned company's net profit of €2.4 billion is to be used to modernize the network and reduce the company's debt.



In 2025, the SNCF Group reported a robust financial performance with a total net profit of €1.8 billion. This represented a steady increase in profitability, with EBITDA rising to €7.6 billion (approximately 17.8% of revenue). Much of this financial success was driven by SNCF Voyageurs, which saw a 3% revenue boost thanks to high ridership on TGV and regional TER lines, and SNCF Réseau, which benefited from higher track tolls. Despite some international headwinds, such as the loss of a major tram contract in Melbourne by its subsidiary Keolis, the group maintained a strong domestic "performance plan." By early 2026, the company continues to reinvest these profits heavily into France's rail infrastructure, allocating over €11 billion toward network modernization and the purchase of next-generation high-speed trains to meet the surging demand for sustainable travel.

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SNCF Group now comprises five public limited companies, all wholly owned by the French government. Of these, SNCF Réseau and its SNCF Gares & Connexions subsidiary are responsible for all track and station infrastructure.

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SNCF is the only company offering national rail transportation because it enjoys a legal monopoly. There are two types of trains: HS trains (TGV) and “normal speed” trains (Intercités or IC). TGV can use both HS and normal tracks, when IC can only use normal tracks.

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As things stand, most TGV lines don't turn a profit but are made feasible by subsidies, paid by a state that clearly sees the economic advantages of an extensive high-speed network.

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This involved a reduction of $35 billion in the company's debt. The public authorities completed this debt repayment process in 2022 – the debt now stands at €24.4 billion, compared to €60.2 billion in 2019 – by taking over the last scheduled €10 billion.

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SNCF operates almost all of France's railway traffic, including the TGV (Train à Grande Vitesse, meaning high-speed train). In the 1970s, the SNCF began the TGV high-speed train program with the intention of creating the world's fastest railway network.

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Our premium high-speed brands in Europe SNCF Lyria operates high-speed trains between France and Switzerland, serving Geneva, Basel and Zurich in particular. It carries 4-6 million passengers a year.

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TGV is SNCF's high-speed rail service. Carrying passengers across France on trains exceeding 300kmh, TGV train has become one of the most popular modes of transport for travelling around the country.

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Track design. High-speed railway track construction in France has a few key differences from normal railway lines. The radii of curves are larger so that trains can traverse them at higher speeds without increasing the centripetal acceleration felt by passengers.

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