Eurotunnel summer revenues up following UK economy upturn
Eurotunnel saw group revenues rise by 16% to €309.8 million in the third quarter of the year as cross-channel numbers rose on the back of an improving UK economy.
Revenues for shuttle services using the Channel Tunnel increased by 4% to €144.1 million compared to the same period in the previous year.
Revenues from the railway network increased by 4% due to contributions by Eurostar.
The MyFerryLink ferry operation broke even in August for the first time in its first summer of full operations.
“This activity remains, however, marginal as far as the group is concerned in terms of revenue, with €55 million recorded for the first nine months 2013,” Eurotunnel said. “More significant, this activity broke even in August, thereby proving its viability.”
Eurotunnel faces the prospect of being forced to shut the former SeaFrance ferry operation, which now claims a 10% market share on the Dover-Calais route, following a ruling by the Competition Commission.
The company is awaiting a decision by the competition arbitration tribunal on the UK ruling which contradicted the opinion of the French competition authority’s decision made last November.
Eurotunnel chairman and chief executive Jacques Gounon said: “This summer, following a very positive first half year, Eurotunnel established many new records even though the previous year was exceptional due to the London Olympic Games.
“The upturn in the British economy has brought new impetus to our markets which we intend to make the most of.”
The number of cars using the Channel Tunnel shuttle service rose by 3% in the quarter to more than 848,000 while Eurostar passenger numbers were up by 5% to 2.7 million. MyFerryLink handled more than 138,000 cars, 93,787 trucks and 329 coaches in the three months to