SNCF Group reported revenue of €43.0bn in 2025, broadly stable year on year, with net profit reaching €1.8bn.
Investment rose to €11.0bn, with the vast majority directed to rail activities in France. Network renewal and modernisation remained a priority, with €3.2bn allocated to infrastructure upgrades. During the year, 736 km of track and 239 km of overhead lines were renewed on the core network.
Passenger activity continued to expand. SNCF Voyageurs increased revenue by 3.0%, with high-speed services carrying 168.4 million passengers in France and across Europe, up 3.5% year on year. Regional TER and Transilien suburban services also recorded ridership growth.
In freight and logistics, results reflected a weaker global market, particularly in intercontinental transport. GEODIS reported lower revenue but maintained its operating margin. Rail Logistics Europe saw a slight decline in revenue but improved profitability, supported by contract renewals and growth in intermodal activities including Forwardis, Naviland Cargo and VIIA.
Overall, the group combined stable activity levels with higher profitability and continued network investment, while freight operations held up in a difficult market environment.
