Eurotunnel 2007 Traffic and Revenue figures: a remarkable year
- Revenues increased: €775 million (+6% pro forma*)
- Strong revenue growth from Shuttle activity (+8%)
- First Europorte 2 trains
2007 was a remarkable year for Eurotunnel, with significant pro forma growth in revenues and traffic through the Tunnel confirming, for the third successive year, its continued growth. The end of 2007 also saw the start of a new activity for Eurotunnel with the launch of services by its subsidiary Europorte 2.
Revenues reached €775 million, an increase of almost €50 million, or 6% on a comparable basis (i.e. at a constant exchange rate and without the guaranteed payments from the Railways (MUC) which ceased contractually at the end of November 2006).
For reference, Eurotunnel received €95 million under the MUC in 2006. This significant loss of revenue was largely compensated in 2007 by an unprecedented development of activity in Eurotunnel’s recent history.
The growth in revenue (excluding MUC) is, for the third consecutive year, largely the result of Eurotunnel’s operation of its Passenger and Truck Shuttles, its core business, which grew by 8%, reaching the symbolic threshold of €500 million.
Eurotunnel also saw growth in its main traffic through the Channel Tunnel: during the past year Eurotunnel’s Shuttles transported 1,414,709 trucks (+9%) and 2,141,573 cars** (+6%) between Folkestone and Calais-Coquelles, and Eurostar carried 8,260,980 passengers between London, Paris and Brussels (+5%).
Eurotunnel considers that this success is proof that its millions of customers appreciate the Group's constant efforts to improve the quality of its service and its environmentally considerate transport system.
Rail freight traffic was the only activity to decline in 2007, as was anticipated. Eurotunnel made all possible efforts to participate in the re-launch of rail freight activity, with the announcement on 23 October of a new pricing strategy in favour of open access and by launching operations for its subsidiary Europorte 2 on 26 November, including responsibility for the traction of SNCF trains between Frethun (Pas de Calais) and Dollands Moor (Kent).
Jacques Gounon, Chairman and Chief Executive of Groupe Eurotunnel SA, declared,
“For the third year in succession Eurotunnel has significantly increased* revenues. This is an unprecedented moment in the Eurotunnel’s recent history. We are now substantially ahead of the business plan for the financial restructuring. These remarkable results and the future value represented by the Channel Tunnel Concession enable us to start 2008 with confidence and determination.”
* At a constant exchange rate and without the payments from the Railways guaranteed under the Minimum Usage Charge (MUC) which ceased contractually at the end of November 2006.
**Includes motorcycles, vehicles with trailers, caravans and camper vans.
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