2008 Results
- Revenues and other income1: €748 million, an increase of 4% at a constant exchange rate2
- Operating margin (EBITDA): €421 million (+5% at a constant exchange rate)
- Trading profit: €261 million, an increase of 9% compared to 2007
- Net result: profit of €40 million3
- First dividend in Eurotunnel’s history
On the strength of an excellent first half year and despite the fire which reduced traffic from September onwards, Eurotunnel has continued to increase its operating margin (EBITDA) in 2008, to €421 million, which is approximately 16% above the objective in the safeguard plan (at a constant exchange rate and restated under IFRS). With this improvement in operations and with the reduction in net financial charges as a result of the financial restructuring (-2% in 2008 following -42% in 2007), the consolidated net profit for Groupe Eurotunnel SA in 2008 was €40 million. This profit enables Eurotunnel, for the first time in its history, to propose that the Annual General Meeting of shareholders approves the payment of a dividend of 4 cents of a euro per share.
Jacques Gounon, Chairman and Chief Executive of Eurotunnel stated,
“Despite the incident in September, the year 2008 clearly marks the end of financial uncertainty for Eurotunnel. Through its efficiency and the control of its costs, the Group has recorded a solid profit which, for the first time in our history, allows us to pay a dividend to our loyal shareholders”.
Appendix:
Extracts from Groupe Eurotunnel SA's consolidated accounts for the year ended 31 December 2008.
Get the full results in the attached document.
- Indemnity advances received from the insurers in relation to operating losses amounting to €44 million, after deduction of the €10 million excess.
- In order to enable a comparison between 2008 and 2007, the figures published in 2007 have been recalculated at the average exchange rate for 2008, £1=€1.216.
- Of which €24 million results from the “Sangatte” litigation.
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