The securing of career paths is the priceToday a multifaceted moral crisis is installedDarrois report took observers in opposite The Board is savonnée believe the unionsIdomeneo must therefore be played and published RushdieDifficult to find in the air sector crisisBut evolution does not take place as this5 x number of hours paid gross monthly pay 15and then hand make its weapons on the ground5 of the capital is not presented to the AssemblyThere are two ways to apprehend the SNCF 2008 accounts. The sorrows spirits could if worry to see net profit share of the Group almost halved from 2007 ( 48 to EUR 575 million), which boded ill for the suite in a period of severe turbulence. Guillaume Pepy, its President, prefer calling them "reassuring." Surprisingly Not so much, if it goes back the steps of the income: with operating margins (equivalent of the gross operating surplus), up 12 to 2.59 billion, the SNCF is the evidence that his activity has not too suffered year last of the crisis. As its turnover is also ( 7), EUR 25,18 billion.
"Chosen last year's growth strategy is supported by these results", said Guillaume Pepy. The RADIUS SNCF has seen its four branches (outline, TER, transport and logistics, infrastructure) contribute positively to current operating result, against two last year. "These four trades are those in our next five years and beyond", prevents the leader.
So far, strong degradation of the benefit net share of the group is not considered pure accounting Fireworks. This deterioration is explained largely by a depreciation of assets of $ 325 million. The reason Taking note of the profitability almost zero branch infrastructure, the SNCF is committed to drastically lower the value of its assets in the matter. "These are the most prominent figures of 2008 LES LES recognizes Guillaume Pepy. "They reveal a kind of impasse of our economic model: there will be no relief without renegotiation of our contracts with Réseau Ferré de France (RFF)", the owner of the network.
Clearly, the difficulties are to the SNCF. Especially as the effects of the economic crisis well amortized until then will intensify this year. It is particularly true for the domestic transport and logistics, to the day since a few months. "In the fourth quarter of 2008, net sales fell by 2.4, against a growth of 7.8 over the first nine months, and operational loss cut 44 million over the period, against 12 million more losses for the nine months," to alarm Pierre Blayau, his boss. The year 2009 continues on this course, with volume falls between 15 and 20. The public group is nevertheless not idly, especially for cargo SNCF, whose social reform failed in the fall and whose losses could widen to 430 million in 2009 (345 million in 2008). "We are preparing something." "It must be determined what SNCF can do, what the Chargers are prepared to accept and that the State may consider to support the rail offer", launches Pierre Blayau.
As if that weren't enough, the cash cow of the Group the outline with the TGV advance in measured steps in 2009. "We have a very strong lack of visibility". "The year began very soft way: expected growth of the volumes is not produced for the moment", recognizes Guillaume Pepy. Not issue to fall in the gloomy: investment will remain at a record level of about 2 billion and the financial objectives of the "Destination 2012" plan are maintained (an increase of 50 of revenues, operating income doubled in five years). "They are obviously more difficult to fill," concedes the leader.
