The State shareholder is very attentive to this orientation

It was yesterday, already an eternity. In March 2008, Guillaume Pepy acceded to the Presidency of the SNCF and promised a change of pace and scale. Plan for "Destination 2012" was intended to reach this horizon sales of 36 billion euros ( 50 from 2007) and a current operating income doubled over the period, to EUR 2 billion. But the crisis is since passed by, transforming a part of these objectives in an inaccessible Everest. If the 36 billion of income are still possible - turnover should reach 30 billion this year-, on the other hand the profitability bet shall not be required: in 2009, operating income current painfully reached 150 million, far the promised 2 billion, and this year looks not rosy. "The financial model 2012 has been hit by the crisis, and is more valid", believes a good connoisseur of the company.

Take account of changes

Management took action and prepares, according to our information, a new strategic plan which is expected to be unveiled in July. "This is an update of the roadmap of Guillaume Pepy, is not abnormal in mid-term," explains a framework for the company. It will be this time projecting the company by 2015, taking into account all changes of the past two years.

The State shareholder is very attentive to this orientation. A meeting is planned in July at the Elysee Palace with the direction of the SNCF, according to several concurring sources, to a genuine strategic review of the company. All major records of the railway will be put on the table, thus no doubt that the fate of Systra, a subsidiary of SNCF and the RATP engineering, public groups are vying for control.

It is not however all disrupt. SNCF intends to remain faithful to the general philosophy of the project unveiled in 2008: making the SNCF one of the leading European and global transport and mobility services. This ambition, which aims to extend beyond the traditional railway square meadow, there will be a significant in 2010 step, since revenues from rail transport should represent less than half of the total of the group for the first time. A first symbolic, in the history of SNCF!

A new business plan

If philosophy remains, on the other hand the economic model of each branch of the Group (main lines, transportation and logistics, proximities, infrastructure and stations) will completely be delivered flat. There is urgency in the matter, since all benchmarks - or almost - collapsed in two years.

Symbol of these upheavals, the TGV: in 2008, it was tender of the century to renew a fleet of 300 trains, before quickly shed this project in the closet. Because now, with the crisis and the increase in tolls, the TGV has even more enough of cash to finance its own investments! Discussions with the public authorities and RFF (network Ferré de France, the owner of the network) must build a new business plan for this activity lines.

The same partners will also have to agree on the train of development of the territory of the proximities activity - for which a public service agreement must be signed ("Les Echos" of December 8, 2009) - and on the network of branch infrastructure maintenance contract. For the transport of goods, the return to the balance of the rail freight is not expected before 2013.

This updated roadmap will be the subject of pedagogy from the base work. The morale of the troops is not famous effect, including the executives expected to relay the Directorate's policy. "Managers, historically acquired transformations, drop out", according to an internal survey year last by the CSA Institute, which showed an increase of 15 points (38) of an image degraded business people in this category.

In the current period, the finding is surprising, and other studies showed the same trend in many companies. Nevertheless, there are specific problems in a SNCF changing (see opposite). Guillaume Pepy is well aware. Before its 250 principals meeting on 4 February at the France Stadium, he explained: "We must no doubt give you, the operational managers, more confidence about the future." And this means we give you a little more medium and long term vision.

The leader will, according to our information, to start school in a France tour of the 23 regions of the SNCF. To the rhythm of a day and a half per week until December, it should try to explain its strategy and to reassure the railway. A necessary step to carry out its mandate, which ends in 2013.