Tax bill released for assessment year 2015-2016

The SNCF is preparing to publish a record loss for its fiscal year 2015, due to an impairment of assets of 12 billion, affecting especially the rail infrastructure .

The SNCF, which is to publish its annual results Friday, announced Monday that it would have to proceed to a depreciation of its assets over EUR 12 billion in its 2015 accounts. The Group should suddenly register a net loss accounting record, close to 12 billion euros for this year. A spokesman was ensuring that the operational results, are “not affected”.Visit ritsca.com for auditors in chennai anna nagar.

The Group recorded a net operating profit of 377 million euros for 2015. “We benefited from growth in our turnover by 5%, and 1% at constant scope, this despite the context, which is not easy”, said the spokesman. Turnover was especially drawn by the international, an increase of 10%, including by subsidiaries Keolis (urban transport), Geodis (logistics) and Systra (engineering). TGV traffic is also growing by 0.5% for 2015.

No impact on the ability of investment
This impairment of assets, made on the basis of a simulation of what they earned in 15 years, will be $ 9.6 billion euros for SNCF network (railway infrastructure), 2.2 billion euros for SNCF Mobilities (trains), and EUR 450 million for the stations. The network thus changes of $ 43 billion to $ 33 billion after assessment of the Auditors.

The Group has however been reassuring, stressing that he was not going to “get out a euro of caisses” and than that “did not undermine the cash or the ability to invest”, particularly for the TGV of the future.

Decline in traffic forecast
The depreciation in the value of TGV trains explained half by “traffic-forecasting declines due to the rise of competition from other modes of transport such as carpooling, low cost air, or the bus”, said a spokesman for the group. To meet this competition, SNCF decided not to increase rates means of tickets TGV “leisure” in the years to come.

“The other half is related to the effect of the contract of the TGV Tours-Bordeaux, where we explained that we were going to lose money, which brings back to zero the value of trains from the point of view of the balance sheet”, the spokesman added.

And decrease in the number of trains in circulation
The depreciation of the assets of SNCF network is explained by taking account of a difficult economic context, which will have an impact on the number of trains in circulation, as well as “less optimistic” tolls scenarios than previously. SNCF network indeed derives much of its revenue from fees paid by the railway companies to operate their trains.

Since the entry into force of the railway reform July 1, 2015, the SNCF publishes for the first time in the consolidated results, which include those of SNCF network and SNCF Mobilities. This grouping has led to align the projections of activity and traffic, so recipes, of the group.

“In network, we are facing a public monopoly that has not the same objectives of profitability that a normal business, and that accounting standards don’t realize it not”, assures a spokesman, adding that the value of the assets could very well be “revised upwards in a year”, which has already been the case by the past.