Traffic and revenues
11 July 2007 - 5:30PM
UK Regulatory
RNS Number:0364A
Eurotunnel PLC/Eurotunnel S.A.
11 July 2007
11 July 2007
Immediate release
Eurotunnel:
Revenue and traffic figures for first half of 2007
* Shuttle revenues up by 8% and total revenue up by 7% to #252m compared to
first half of 2006 (on comparable pro forma basis)
* Strong traffic growth: trucks (+9%), cars (+8%), Eurostar (+5%)
Eurotunnel notes with satisfaction a net increase in its revenues and main
traffic during the first half of 2007 compared to the same period in the
previous year (on a comparable basis), thereby reinforcing its position as
leader in the cross-Channel market.
During the period under review, Eurotunnel revenues were #252 million, an
increase of 7% without the minimum usage payments which came to an end in
November 2006.
The number of trucks (+9%) and cars (+8%) carried on Eurotunnel Shuttles has
grown significantly, as has that of Eurostar passengers travelling through the
Channel Tunnel (+5%).
Revenues
During the first six months of the year, Eurotunnel has recorded a clear
increase in revenues from its core activity, the transport of trucks and
passenger vehicles on board its Shuttles: this is up to #162 million, an
improvement of 8% compared to 2006 at a constant exchange rate.
Revenues from railway operators, which no longer include the payments guaranteed
under the Minimum Usage Charge (MUC), were #86 million. Excluding the MUC, these
revenues have increased by 6% in the first six months. For comparison, the MUC
payments for the first half of 2006 were #37 million.
Revenues from non-transport activities remained marginal, at #4 million.
Total revenues for the first half of the year were up to #252 million, an
increase of 7% on a comparable pro forma basis (#252 million compared to #236
million).
The ending of the minimum payment from the railways should have led to a
mechanical reduction in total revenues of 14% (portion of 2006 first half
revenues represented by the MUC). In fact revenues have only decreased by 8%:
the company has therefore already compensated for a major part of the MUC.
1st half 1st half % change 1st half % change
Revenues 2007* 2006 excl. MUC 2006
# million (un-audited) excl. MUC MUC included
(restated*) (restated*)
Shuttle Services 162 150 + 8% 150 + 8%
Railways (excl. MUC) 86 81 + 6% 81 + 6%
MUC - 37
Railways 86 118 - 27%
Non-transport activities 4 5 - 14% 5 - 14%
Revenues 252 236 + 7% 273 - 8%
* Exchange rate: #1=Euro1.478
Shuttle traffic
The quality of service offered by Eurotunnel, the speed, ease and reliability of
its transport system, which is also more environmentally friendly than its
competitors for crossing the Channel, have led to even more customers choosing
to use the service during the first half of 2007.
The number of trucks carried rose to 707,422, an increase of 9% over the first
half of 2006.
The number of cars transported (955,510) rose by a similar amount (8%), or
68,046 vehicles.
1st half 2007 1st half 2006 2007/2006
% change
Truck shuttles 707,422 649,596 + 9%
Passenger shuttles Cars* 955,510 887,464 + 8%
Coaches 32,500 33,030 - 2%
* Including motorcycles, vehicles with trailers, caravans and camper vans.
Railways traffic
3,913,283 people travelled on Eurostar* during the first half of 2007, an
increase of 5% even though the final section of the high speed line to London,
High Speed 1, will not come into service until November 2007.
By contrast, railway freight trains travelling through the Tunnel during the
first half of 2007 carried only 680,531 tonnes of goods, a decrease of 14%
compared to the first half of 2006. This traffic remains significantly below the
original forecasts and the capacity of the Channel Tunnel.
Eurotunnel is working hard with its partners Fret SNCF, EWS and BRB to re-launch
this activity.
1st half 1st half 2007/2006
2007 2006 % change
Eurostar* 3,913,283 3,733,403 + 5%
(passengers)
Rail Freight tonnage 680,531 791,672 - 14%
(EWS/SNCF)
* Only Eurostar passengers passing through the Channel Tunnel are included in
this table. This excludes those travelling between Paris-Calais and
Brussels-Lille.
Jacques Gounon, Chairman and Chief Executive of Groupe Eurotunnel declared "
Having succeeded in restructuring its finances, Eurotunnel has now completed its
return to the cross-Channel market with significant growth in its main traffic.
It is clearly market leader."
No 028/2007
For media enquiries contact on + 44 (0) 1303 284491
Email: press@eurotunnel.com
For investor enquiries contact Michael Schuller on + 44 (0) 1303 288 749.
Email: michael.schuller@eurotunnel.com
www.eurotunnel.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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