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SNCF network (former rail network in France), the manager of the railway tracks in France, continues to live beyond its means. And, therefore, into debt. At the end of 2014, the net loss amounted to € 213 million, it was 60 million in 2013 for a turnover of € 5.9 billion, up 4%, announced the public company Thursday, February 19.
By cons, the debt has increased much more strongly. In 2014, it accounted for 36.78 billion euros against 33.7 billion a year earlier. The drift of the debt SNCF network is not completely the fault of the public company. Far from it. Certainly, and for many years, the former RFF does not fully cover the costs of maintenance and network development due to insufficient public funding. But in addition, SNCF network is sealed by financial expenses of 1.4 billion euros per year to manage the debt inherited in 1997 from the train.
There are also the decisions of the State, not always consistent. Between 2012 and 2016, the railways manager must spend its money – it did not and must therefore borrow – € 1 billion per year to pay for part of the four new high lines speed (LGV) currently under construction.
THE SLOWER drift DEBT AFTER 2017
Once these lines will be installed, a golden rule, however, enter into force imposed by the railway reform passed in the summer of 2014 if the state decides to LGV, it can not to shift the financial responsibility for train network. The measure is late, but it should be a deterrent to the network credit development.
Meanwhile, the debt will continue to swell until 2017 significantly. It should slow its expansion as spending down and that the group will improve productivity and streamline purchasing. By 2020, SNCF network promises a reduction in costs and purchases of 500 million euros, including reviewing its cooperation with suppliers.
ILL PAYING WEIGH ON CASH
In addition, SNCF network faces more than 1.35 billion euros of outstanding claims in its accounts by public authorities. If high-speed rail construction was entrusted to the construction giant in the form of public-private partnerships, with half of these projects is paid for by public money. Whether SNCF network, the State or public authorities. In this case, it is the public company that collects money from communities and groups lends to construction lines.
However, the authorities refuse to pay for political pressure on the state . Thus, for the TGV-Est line, for example, some communities are calling for the electrification of the line Paris-Troyes, a decision that was never cohosh. And public company should hang these communities to court so they end up paying.
For the Paris-Bordeaux line communities north of Bordeaux ceased payment of the new TGV line waiting whether they are correctly (in their eyes) served by the new line. And south of Bordeaux, communities refuse to pay as the extension of the line to Toulouse is not cohosh …
TRAFFICKING down, INCREASE THE WORK
At the same time, due to both the economic situation, the strike of June 2014 and the rationalization of the supply of the SNCF (fewer trains, better filled), traffic on the routes operated by SNCF down a Network few (1.6%) and with it the income. Over ten years, traffic fell by 10% between freight and passenger, weighing on the company’s accounts. In the regions, it is expected to continue as the regional authorities are streamlining their offer.
However, the train does not intend to slow down the work. In 2015, the infrastructure manager will invest EUR 2.14 billion for maintenance and 2.77 billion for the renovation, two and a half times more than in 2007. The only Ile-de-France will benefit from a budget of 1.1 billion euros. And in total, fifteen hundred yards should be hired to renovate a thousand kilometers of track, as in 2014.
Without arms, twenty works programs planned for 2015 will be postponed to 2017, as ‘announced Alain Vidal, Secretary of State for Transport Wednesday 18 February, time to launch four new high-speed line, which involve many employees SNCF network.
However, despite the increase in average assigned to the renovation of the rail system, the network continues to aging of a month and a half year. It was not until 2025, when SNCF network maintains this level of investment support for the network begins to rejuvenate …
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