Wednesday, March 9, 2016

6 These disturbing figures which undermine the SNCF – Le Figaro

SCAN THE ECO – 44 billion euros of debt, declining attendance, cost of fraud or delays, aging infrastructure … Le Figaro passes review some issues that undermine the public company, while railway workers went on strike Wednesday.

• 12 billion accounting depreciations

the accounting depreciation of the SNCF in total exceed 12 billion euros, according to the assessment of the statutory accounts of the public group. The cause? Several Impairment losses are added during the past year. Indeed accounting standards require companies to value their assets according to the projection to 50 years ahead financial flows. In detail, railway network, the Infrastructure Manager, shows 9.6 billion euros of writedowns for the valuation of its network. To this amount, add 2.2 billion euros for SNCF Mobility. And finally EUR 450 million for the stations

“” ALSO READ:. SNCF will depreciate 12 billion euros of assets

• 44 billion debt

the debt of the railway reached 44 billion euros at end 2014, including 37 billion for SNCF network. At this rate, 50 billion will be significantly exceeded in 2020. Especially since the construction of HSR lines are a financial drain on the company. According to a report from the Court of Auditors, published in October 2014, existing lines are less profitable, new projects are not funded for lack of resources and benefits of high speed no longer sufficient to ensure a positive outcome for all SNCF.

• 4.9 billion for maintenance and network maintenance

the infrastructure of the railway are old . This is why, in part, the numerous delays. For example in the Ile-de-France, 40% of roads and 30% of referrals were more than 30 years. To overcome the problem and strengthen security lines, SNCF performs sites. In all, it is 4.9 billion euros that are dedicated to the modernization of the network in 2015 with 1,500 yards engaged. Notably, the train park “outline” the Reef 1970 and 80, should be completely renewed by 2025. The state will allocate 2 billion euros. Delivery could start at best in 2020.

• 400 million deficit on Intercity

The Intercity deficit will rise in 2016 to 400 million euros for the train and to a lesser extent to the state. Their attendance dropped 20% since 2011, according to Alain Vidal, Secretary of State for Transport. Of all of the deficit recorded by the Intercity network in 2016, 25% comes from night trains carry only 3% of travelers. Which requires the state to subsidize every ticket sold to the tune of a hundred euros on average. Consequently, only two of the eight current lines should survive the restructuring planned by the State

“” ALSO READ:. SNCF disengages night trains

• fraud of EUR 113 million

in its annual public report, the Court of Auditors says that fraud weighs at least 113 million euros in the accounts SNCF just on the Transilien. On this network, the fraud rate has increased. It went from 2.6% to 4% in 2014

“” ALSO READ:. Transport in Île-de-France: a “collective failure” against fraud

• 19.5 million penalty due to lack of punctuality in the Ile-de-France

the penalty paid by SNCF to STIF, which organizes transport in Ile-de-France, for non-compliance with the objectives (regularity, punctuality, deteriorating infrastructure) have tripled since 2010 from 6.3 to 19.5 million euros in 2014.

“” ALSO READ: Transport in Île-de-France: the network is too old and regularity … random


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