SNCF Réseau

The 2014 railway reform gave France a truly unified railway infrastructure manager, SNCF Réseau, with all the operational means to carry out its tasks. In 2018, a new reform transformed the establishment, as of 1 January 2020, into a public limited company attached to the new SNCF group and interrupted the recruitment of staff to the statute on that date. Despite these reforms and the contribution that will also be made to SNCF Réseau by the State’s takeover of part of its debt, the stabilisation of its economic and financial model will have to be confirmed by an improvement in the company’s performance, at the risk of excessive debt being replenished in the future. The company’s current investment trajectory also marks a decline in the network renovation effort, which, at a constant size, will be difficult to address without an increase in State aid. This report is available on [the Court’s website] (https://www.ccomptes.fr/en/publications/sncf-reseau). The published files correspond to the data that served as the basis for the preparation of the report.