The French state-owned railway operator, SNCF, has announced a net profit exceeding one billion euros for the first half of 2026, marking a 19% increase from the same period last year. This performance is notable given the challenges posed by severe weather events that disrupted rail services during the winter and early summer months.
Between January and June 2026, SNCF's net profit reached €1.18 billion, up from €950 million in the first half of 2025. Revenue for the period stood at €1.94 billion, a 2% increase from the previous year. CEO Jean Castex described the results as "satisfactory," considering the "particularly difficult" climatic and macro-economic conditions, including winter storms in January and February, early heatwaves in May and June, and geopolitical tensions.
The SNCF Voyageurs division, responsible for passenger services, was a significant contributor to this growth, benefiting from increased traffic across high-speed, regional, and long-distance services. Over 81 million passengers were carried on high-speed trains in France and Europe during the period. The TER network saw a 3.9% increase in ridership, while Transilien services grew by 6.5%.
Despite the positive financial results, the company faced operational challenges due to extreme weather conditions. The early heatwaves in May and June led to the cancellation of Intercités trains, particularly those not equipped to handle high temperatures. These disruptions highlight the ongoing need for infrastructure upgrades to ensure service reliability during adverse weather events.
Looking ahead, SNCF plans to continue its investment program, including the delivery of new RER NG trainsets and the commissioning of maintenance sites for new rolling stock. The company forecasts passenger numbers to approach one billion journeys in 2026, a 6.3% increase compared to 2025, surpassing the 2019 benchmark.
These developments suggest a positive trajectory for SNCF, with expectations of sustained growth and improved service offerings in the coming years.