and consolidated financial plus half-year 2012 statements are available at...

2011 PROFILE & KEY FIGURES

More information sncf.com

MORE INFORMATIONAND CONSOLIDATED FINANCIAL

STATEMENTS FOR 2011 PLUS HALF-YEAR 2012 STATEMENTS

ARE AVAILABLE AT SNCF.COM

SNCF, Direction de la Communication, 34 rue du Commandant Mouchotte, 75699 Paris Cedex 14, sncf.comPhotos: E. Bernard / J. Chapuis / W. Daniels – Lowe Stratéus / H. Parent / SNCF Médiathèque : P. Curtet – J. Guiot – C. Recoura – P. Messina – C. Curt / S. Tétu – La Company / SNCF Médiathèque-AREP / Photothèque Geodis. English text: Durban/Clementi. Design & production: Lowe Stratéus. Printing: September 2012.

REVENUE€ BILLION

GLOBAL PRESENCEIN 120 COUNTRIES

245,000EMPLOYEES

REVENUE BY MARKET

International

23 %

France

77 %

INVESTMENT€ BILLION

EBITDA(1) € BILLION

3.02

32.6 2.4A public-sector group commited to public service, SNCF draws on its foundations in rail in France to offer an extended range of services for smooth door-to-door mobility for clients, travellers, transport and logistics operators, and the regional and local governments that are its organizing authorities.

The group is made up of fi ve divisions:

• SNCF Infra Managing, operating, maintaining and developing rail and related infrastructure

• SNCF Proximités Operating local, urban and regional passenger services

• SNCF VoyagesOperating high-speed passenger rail services

• SNCF GeodisProviding freight and logistic services

• Gares & Connexions Charged with train-station management and development RECURRING NET PROFIT (2)

€664 mNET PROFIT

€125 m

SNCF IN 2011

SNCF IS A WORLD LEADER IN MOBILITY AND LOGISTICS. PRESENT IN 120 COUNTRIES, WITH A TOTAL WORKFORCE OF 245,000 GENERATING REVENUE OF €32.6 BILLION.

or 9.3% of revenue

(2) Excluding non-recurring items.(1) Earnings before interest, taxes, depreciation and amortization.

01

KEY FIGURES

KEY FIGURES FOR 2011 SNCF GROUP

(€ million) 2010 2011

Revenue 30,466 32,645

Gross profi t (EBITDA) 2,163 3,020

Current operating profi t 531 1,255

Operating profi t 1,409 821

Financial profi t -358 -359

Recurring net profi t 231 664

Net profi t (attributable to equity holders of the parent) 697 125

Self-fi nancing capacity 1,431 2,148

SNCF capital investment 2,127 2,364

Free cash fl ow -162 261

Financial net indebtedness 8,499 8,329

Workforce 240,978 245,090

SNCF CAPITAL INVESTMENT

€ BILLION

2011

2.4

2008

2.3

2009

2.2

2010

2.1

FINANCIALNET INDEBTEDNESS

€ BILLION

2008

6

2009

7.2

2010

8.5

2011

8.3

REVENUEBY DIVISION

CHANGE IN REVENUE € BILLION

2008

25.2

2009

24.9

2010

30.5

2011

32.6

SNCF Infra€ 5.3 bn

SNCF Proximités€ 12.3 bn

SNCF Voyages€ 7.3 bn

SNCF Geodis€ 9.4 bn

Gares & Connexions€ 1.2 bn

15%

35 %

20%

27 %

3 %

EBITDA(1)

IN € MILLIONS

2008

10.3%EBITDA/

REVENUE

2,591

2009

6.8%EBITDA/

REVENUE

1,688

2010

7.1%EBITDA/

REVENUE

2,163

2011

9.3%EBITDA/

REVENUE

3,020

RECURRING NETPROFIT

€ MILLION

2008

530

2009

3

2010

231

2011

664

20112008 2009 2010

FREE CASH FLOW€ MILLION

- 82 - 491 - 162

261

20112008 2009 2010

NET PROFIT(2)

€ MILLION

125

575697

- 980

(2) Attributable to equity holders of the parent.(1) Earnings before interest, taxes, depreciation and amortization.

02 03

Austria Belgium Bosnia-Herzegovina Bulgaria Czech Republic Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Latvia Lithuania

EUROPE

Luxembourg Macedonia Netherlands Norway Poland Portugal Romania Russia Slovakia Slovenia Spain Sweden Switzerland Turkey Ukraine United Kingdom

Map SNCF present

Divisions present SNCF Infra SNCF Proximités SNCF Voyages SNCF Geodis Gares & Connexions

Algeria Cameroon Chad Congo Egypt Gabon Iraq Israel Kuwait Libya

AFRICA & MIDEAST

Morocco Niger Nigeria Qatar Saudi Arabia South Africa Syria Tunisia United Arab Emirates

Argentina Brazil Canada Chile Colombia Ecuador

Australia Azerbaijan Bangladesh China Georgia Hong Kong India Indonesia Japan

ASIA-PACIFIC NORTH & SOUTH AMERICA

Kazakhstan Malaysia New Zealand Philippines Singapore South Korea Taiwan Thailand Vietnam

Mexico Peru United States Uruguay Venezuela

A GLOBAL PRESENCE

PRESENT IN 120 COUNTRIES, SNCF IS A WORLD LEADER IN MOBILITY FOR PEOPLE, GOODS AND LOGISTICS.

04 05

CORPORATE GOVERNANCE

SNCF GROUP MANAGEMENT

PIERRE BLAYAUSNCF Geodis division

JEAN-PIERRE FARANDOUKeolis

(SNCF Proximités division)

BARBARA DALIBARDSNCF Voyages division

SYLVIE CHARLESSNCF Freight

(SNCF Geodis division)

BÉNÉDICTE TILLOY SNCF Transilien

(SNCF Proximités division)

PIERRE IZARDSNCF Infra division

JOEL LEBRETONSNCF Proximités

CLAUDE SOLARDSNCF Regions & Intercités (SNCF Proximités division)

RACHEL PICARDGares & Connexions

SOPHIE BOISSARDBusiness Strategy & Development

FRANÇOIS NOGUÉCohesion

& Human Resources

ALAIN KRAKOVITCHRail Services Safety

& Quality

ALAIN PICARDFinance, Purchasing & IT

The Board of Directors defi nes Group policy, sets its direction and implements contracts with the French State. The Chairman of the Board of Directors is appointed by the Council of Ministers at the proposal of the Board. The Board of Directors comprises:• 12 members appointed

by the French State, including: – 7 representatives of the State– 5 members chosen for particular expertise, including at least one representative of clients

• 6 members, including one representative of management, elected by Group employees.

BOARD OF DIRECTORS

GUILLAUME PEPYChairman

JACQUES DAMASSNCF EPIC(1)

STÉPHANE VOLANTCompany Secretary

BERNARD EMSELLEMSustainable Development

PATRICK ROPERTCommunications

(1) SNCF EPIC is the state-owned enterprise responsible for core railway services in France.

06 07

Rail network operation & managementDirection de la Circulation Ferroviaire (rail traffi c control body)

Construction & renovation

EngineeringSystra

TER (Regional express lines)

Transilien (Rail transport for Greater Paris)

Intercités (for lines serving regional and local planning & development)

Keolis

High-speed rail operators for passengers TGViDTGVEurostarThalysLyriaAlleoElipsosGalaTGV ItaliaWestbahnNTV (Nuovo Trasporto Viaggiatori)

Long-distance coach travel iDBUS

Sales distributionvoyages-sncf.com

Global transport & logistics operatorGeodisSTVA

Rail freight (TFM)Fret SNCF CaptrainVFLIMulti-modal transport businesses

Asset managementErmewaAkiem

Station management & development in France

Multidisciplinary operations – building and outfi tting facilitiesAREPParvisA2C

SNCF INFRA DIVISION SNCF PROXIMITÉS DIVISION SNCF VOYAGES DIVISION SNCF GEODIS DIVISION GARES & CONNEXIONS DIVISION

SNCF GROUP

08 09

SNCF INFRA DIVISIONMISSION: provision, under a public-service remit, of management, operation and maintenance of the French rail network for RFF, owner of the French rail network, as well as engineering services, primarily for rail infrastructures.

Implement conclusions of the Assises du Ferroviaire debate.

Pursue deployment of train schedules calling for circulation at regular intervals that began with the 2012 Service Plan.

Continue to upgrade the rail network.

Boost production effi ciency further.

Meet the challenge of competition.

Step up SNCF Infra’s growth on international markets.

CLIENTSThe main client in France is RFF, which owns the French rail network. Outside France, clients are major construction and civil engineering companies purchasing engineering services (Europe, Asia, Middle East, Africa, United States, India, Canada and South America).

SERVICESNetwork maintenance, operational security and management of train circulation for RFF.Engineering services, contract coordination, oversight and site logistics in France and abroad.

CHANGES IN THE BUSINESS ENVIRONMENT• Institutional environment: conclusions of the Assises du Ferroviaire, a nationwide debate on the future of rail, calling for France’s rail network to be brought together under a single management entity.

• Re-launch of Systra, confi rming its rank as a world leader in engineering for public transport, by combining Systra (co-owned by SNCF and RATP, the Paris public transport company), Inexia (SNCF) and Xelis (RATP).

SNCF INFRA DIVISION AT A GLANCE

15,000trains circulating daily coordinated by DCF (Direction de la Circulation Ferroviaire, France’s rail traffi c organizing body).

36countries.

BUSINESS PROFILE CHALLENGES AND TARGETS

30,000 kmrail network maintained and monitored 24/7, including nearly 2,000 km of high-speed track.

Revenue breakdown

International1%

France99%

KEY FIGURES IN 2011

OUVERTURE

SNCF --TER

DCF (1)

(rail traffi c organizing body)

Construction & renovation

Engineering Systra

€5.3 bnrevenue

€229 mor 4.3% of revenue

EBITDA(1)

1,000major projects launched in 2011.

Over

1,000 kmof track upgraded in 2011.

(1) Earnings before interest, taxes, depreciation and amortization (gross profi t).

(1) Independent unit within SNCF that manages rail traffi c and circulation in France for RFF (owner of the French rail network).

10 11

SNCF PROXIMITÉS DIVISIONMISSION: provision of urban, suburban and regional commuter transport.

Continue building team commitment to punctuality, passenger information and service, customer service and innovation to promote passengers mobility.

Build model partnerships for the future with Transport Organizing Authorities and begin moving the business in this direction.

Continue international growth with Keolis.

The world’s no. 2 public mobility provider and no. 1 partner for French regional and local Transport Authorities, the SNCF Proximités division is involved in the entire range of collective transport services: trains, buses, coaches, metros, tram-trains, tramways, trolleybuses, bicycles, car-sharing, ferries and airport ground transport. • In France: 21 regional agreements, Intercités agreement

with the French State, 88 urban transport networks operated by Keolis in France, 74 regional networks at département level, and EFFIA carparks in 100 towns and cities.

• Worldwide: Present in 12 countries altogether through Keolis (Australia, Belgium, Canada, Denmark, France, Germany, Norway, the Netherlands, Portugal, Sweden, the United Kingdom and the United States).

CLIENTS• Transport Organizing Authorities: national and regional authorities,

STIF (responsible for public transport in the Greater Paris area), départements, communities and groupings of communities.

• 10 million passengers a day (4 million carried by TER, Transilien and Intercités trains).

MARKETProvision of public services for Transport Organizing Authorities.

CHANGES IN BUSINESS ENVIRONMENT• Steep rise in demand for commuter transport, with TER traffi c up 47.5% and Transilien traffi c up 27% since 2002.

• Growth in services linked to mobility and multimodal solutions.• Rising economic pressures.• Intercités lines set to open up to competition in 2014 as announced at the Assises du Ferroviaire.

SNCF PROXIMITÉS DIVISION AT A GLANCE


10 millionpassengers every day.

Revenue breakdown

International17%

France83%

KEY FIGURES IN 2011

TER (Regional rail traffi c)

Transilien (Greater Paris area)

Intercités (for lines serving regional and

local planning & development)

Keolis

€12.3 bnrevenue

+ 47.5 % TER traffi c since 2002.

+ 27 % Transilien traffi c since 2002.


EBITDA(1)

Keolis, The leading urban passenger transport specialist in France and a global benchmark for trams.

2ndlargest bicycle rental specialist in France.


12 13

SNCF VOYAGES DIVISIONMISSION: high-speed passenger rail services.

CLIENTSPassengers (or their employers).

SERVICES• French market through TGV and iDTGV services.• International links, primarily in high-speed services, between France and the UK (Eurostar International), with Belgium and the Netherlands (Thalys), with Switzerland (Lyria), Germany (Alleo), Spain (Gala and Elipsos) and Italy (TGV Italia).

• International links by coach with iDBUS.• Westbahn: Vienna-Linz-Salzburg service operating in Austria since December 2011.

• NTV: seven cities will soon be served in Italy (Turin, Milan, Bologna, Florence, Rome, Naples and Salerno).

CHANGES IN BUSINESS ENVIRONMENT • Fierce competition from road and air transport.• International rail transport opened up to competition since year-end 2009.• Plans call for domestic market to open towards the middle of the current decade.

• Planned expansion of current high-speed rail network in Europe and worldwide, combined with rising environmental concerns, will drive development of rail transport and offer a potential relay for growth.

SNCF VOYAGES AT A GLANCE

Priorities: high-quality service for clients and profi table growth through improved operational performance.

Rhine-Rhone TGV line opened in December 2011, linking eastern and southeastern France.

In a struggling economy, TGV business faces a very sharp rise in external costs, particularly energy and track access fees paid to RFF.

Expand international business:Develop the high-speed link between France and Spain; enhance Lyria offering; launch TGV Italia, NTV and Westbahn links; prepare Eurostar and Thalys for new competitors; and make iDBUS the European benchmark for long-distance coach travel.

Ambitious targets for raising revenue and bringing external operating costs under control to meet new challenges.


1/5Nearly 1/5 of revenue is generated outside France.

KEY FIGURES IN 2011

No.1Voyages.sncf.com is France’s leading ticket-sales portal, ahead of shops, in-station sales counters, ticket vending machines and travel agencies.

122 millionSince start-up in 1994, Eurostar has carried over 122 million travellers between Europe and London.

126 millionpassengers carried in 2011. Up 3.6% from 2010, with strong growth in both domestic and international traffi c. 2005 2008 2009 2010 2011

80

100 98.4 98.5102.5

No. of passengers in FranceTGV + iDTGV trains 2005-2011 (millions)

TGV France

TGV Europe

Auto-trains special trains

iDTGV

EurostarThalysLyriaAlleoWestbahnNTV (Nuovo Trasporto Viaggiatori) Gala Elipsos TGV Italia

iDBUS

voyages-sncf.com(Rail Europe, RailSolutions, etc.)

CA

RR

IERS

DIS

TRIB

UTI

ON

€ 7.3 bnrevenue

€1,020 mor 14% of revenue

EBITDA(1)


14 15

Fret SNCF(French rail freight

business)

GeodisSTVA

Captrain VFLI EcorailMulti-model transportcompanies (Ecorail, ITC, Naviland Cargo, Novatrans and Lorry Rail)

ErmewaAkiem

SNCF GEODIS DIVISIONMISSION: global multi-modal operator in freight transport and logistics.

Confi rm ranking in the top 5 contenders worldwide.

Continue to reorganize rail freight industry in France.

Expand presence outside continental Europe.

Enhance platform coordinating worldwide freight fl ows for large industrial clients.

Promote innovation, modal options and sustainable solutions for land-based freight transport in Europe.

CLIENTSBusinesses shipping goods and commodities.

MARKETFully open and competitive.

CHANGES IN BUSINESS ENVIRONMENT• Global economic environment in fl ux, with increased competition among operators.

• Rising demand for sustainable freight transport solutions and low-impact urban logistics.

• Development of multi-modal platforms for transshipment.• Stronger growth in emerging countries, particularly Asia, and especially in freight forwarding (air and maritime).

SNCF GEODIS DIVISION AT A GLANCE

BUSINESS PROFILE CHALLENGES AND TARGETSKEY FIGURES IN 2011

Revenue breakdown

International45%

of which 29% in Europe

France55%

No. 4Europe’s 4th largest operator in freight transport and logistics, and no. 7 worldwide

120countries servedon fi ve continents.

GEODIS

GLO

BA

L FR

EIG

HT

TRA

NSP

OR

T A

ND

LO

GIS

TIC

S

TFM

(TR

AN

SPO

RTS

FE

RR

OV

IAIR

ES

DE

MA

RC

HA

ND

ISE

S)

RA

IL F

REI

GH

T

ASS

ET

MA

NA

GEM

ENT

€ 9.4 bnrevenue

Revenue by businessFreight forwarding (air and maritime) 25%Rail and multi-modal services 23%Express delivery services 19 %Supply chain optimization (4PL) 10 %Logistics 10 %Road 9 %Transport of fi nished vehicles (STVA) 4%


EBITDA(1)


16 17

GARES & CONNEXIONS DIVISIONMISSION: manage and develop 3,029 passenger stations in France, including new services and new mobility areas in city centres.

Deliver useful services to passengers, carriers and the city, as travellers spend more time in stations: operations, passenger information and comfort, equipment and services.

Continue station renovation and programmes to increase traffi c without impacting carriers, and in a period of shrinking budgets; €1.8 billion between now and 2016, including public investments by State, regional, municipal and other authorities.

With the arrival of new rail companies on the market, facilitate integration and provide equitable and transparent services.

CLIENTS AND PARTNERSRail companies, Transport Organizing Authorities, communities, urban transport and businesses.

SOURCES OF REVENUE• Station access charges paid by carriers for use of stations and services (regulated prices).

• Income from commercial concessions (advertising, parking facilities, businesses in stations and offi ce rentals).

• Architecture and design services sold on international markets (AREP).

CHANGES IN BUSINESS ENVIRONMENT• Open to competition from international rail transport. The French government’s “Passenger station and other service infrastructure” decree, issued 20 January 2012, sets out the types of services that station managers must offer and how these must be billed.

• First non-SNCF train operator appeared in December 2011.• Charter signed by the Association of French Mayors and RFF to build and develop the stations of the future and surrounding neighbourhoods.

• New positioning of train stations: open to the city around them, and at the centre of transport hubs.

GARES & CONNEXIONS DIVISION AT A GLANCE


€773 min station access charges, or 66% of total revenue. These charges are paid by carriers in exchange for essential services that must be made available on a transparent, non-discriminatory basis to all rail operators.

Revenue breakdown

International1%

France99 %

2 bntravellers transit through stations each year.

3,029passenger stations in France.

180,000sq. m. of shops and offi ces.

€133 min commercial revenue, or 11% of the total.

€ 855 min investments by SNCF between now and 2016.

GARE SNCFGARE SNCF

KEY FIGURES IN 2011

Management & development of French train stations

AREPParvisA2C

€1.2 bnrevenue

€175 mor 15 % of revenue

EBITDA(1)


18 19

OFFER BICYCLE SERVICES AT 1,800 STATIONS BETWEEN NOW AND 2013Aim: encourage travellers to cycle between home and the station by expanding bicycle parking and rental services in stations.

INTRODUCE AN ENVIRONMEN-TAL MANAGEMENT SYSTEM (EMS) AT ALL SNCF ENTITIES BETWEEN NOW AND 2015 to anticipate risks and improve environmental performance by eliminating sources of pollution and controlling their impact.

ENCOURAGE DIVERSITY IN RECRUITMENT BY HIRING 500 PEOPLE WITH DISABILITIES BETWEEN 2012 AND 2015 This company-wide agreement is a natural follow-up to the policy fi rst launched in 1992. Annual budget: €10 million.

INCREASE SOCIALLY RESPONSIBLE PURCHASING TO €35 MILLION IN 2015 by working with suppliers that employ workers with disabilities and the long-term unemployed.

SUSTAINABLE MOBILITY FOR ALLTrains generate only 1% of CO2 emissions in France, yet carry 10% of travellers and freight — making them the backbone of a commitment to sustainable mobility.

REDUCING OUR ENVIRONMENTAL IMPACTMaking sustainable mobility a reality has an impact on the environment. And minimizing that impact is the only way ahead.

TAKING OUR POLICY OF SOCIAL RESPONSIBILITY FORWARDAt SNCF, we work with trade unions to address diversity, quality of life at the workplace, and ethical business practices and behaviour.

ENCOURAGING REGIONAL INITIATIVESWe have three priorities in the communities where we operate: keeping youngsters on track, helping the long-term unemployed, fi ghting social exclusion and bringing marginalized members of the community back into the mainstream.

4 CHALLENGES 4 COMMITMENTS 3-YEAR IMPACT

SOCIAL AND ENVIRONMENTAL RESPONSIBLITY AT SNCF

Number of stations with bicycle parking and rentals

% of entities with EMS (2) (ISO 14001-certifi ed or with modifi ed EMS)

Number of workers with disabilities (2)

Total socially responsible purchasing (2) (€ millions)

2009

2009

2009

2009

2010

2010

2010

2010

2011

2011

2011

2011

1,249

12 %

4,706

12.5

1,641

18 %

5,087

21

1,700 (1)

27 %

5,300

25

(1) Estimate (2) parent-company fi gures (SNCF EPIC)

20

and consolidated financial plus half-year 2012 statements are available at...

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