France’s SNCF Group recorded a fifth consecutive year in the black in 2025 with logistics major Geodis and Rail Logistics Europe (RLE), grouping its rail freight subsidiaries, “demonstrating notable resilience.” Group net profit increased to 1,8 billion euros compared to 1,6 billion euros a year earlier. Revenue was stable at almost 43 billion euros.
‘SNCF Group delivered solid results in 2025. They reflect the strength and complementarity of our businesses, and confirm our positive economic trajectory since 2021,” Chairman and CEO, Jean Castex, commented. RLE increased its EBITDA, a common gauge of business performance, to 260 million euros compared 211 million euros in 2024.
‘Many contracts won or renewed’
RLE’s revenue was down 1,6% to 1,8 billion euros, the decline being mainly attributable to the commercial discontinuity of Fret SNCF (now Hexafret) imposed by European Commission competition requirements. Nevertheless, the EBITDA margin rose to 14.4% versus 11.4% a year earlier. Reviewing the 2025 financial year, the SNCF Group said that RLE had delivered satisfactory results despite difficulties in Europe’s rail freight sector. An unfavourable economic environment and supply-side constraints placed significant pressure on many market participants.
Commercial momentum remained strong, with many contracts won or renewed, including the renewal of steelmaker ArcelorMittal’a freight business in France. Intermodal activities – Forwardis, Naviland Cargo and VIIA’s rolling highway operations – continued to grow as new volumes were gained. New subsidiaries Hexafret and Technis, borne out of the discontinuity of Fret SNCF and, both established at the beginning of 2025, improved service quality in a stabilised social and operational environment and increased their profitability, the SNCF Group noted.
As for Geodis, which has significant rail freight interests, with approximately 120 trains in circulation every week operating across France and Europe, 2025 revenue came to 10,6 billion euros down 3.9% from 2024 on a scope, current and methodology basis. However, it managed to preserve its profitability, holding its EBITDA -to-revenue ratio at the same level as in 2024 (10.7%).