Eurotunnel report a good year in 2011
January 30, 2012
Eurotunnel this morning reported double-digit sales growth for 2011 and said freight traffic was back to levels last seen in 2007.
Eurotunnel Chairman and CEO Jacques Gounon said the group had seen revenues rise 16%, year on year, to hit €844 million (US$1.1billion).
In 2010, Eurotunnel reported a net loss of €57 million, but predicted better fortunes for 2011, thanks in part to new services that included routes into Germany.
In July last year, IFW reported that by the end of the first half, Eurotunnel had seen a €50 million turnaround, sliding out of the red and into profit.
And today, Gounon said: “In a difficult economic context, Groupe Eurotunnel had a very good year. Our commitment to rail freight is bearing fruit. The group is well prepared to seize the opportunities which arise during 2012.”
A statement added: “For the first time in seven years, regeneration can be seen in concrete results with the launch of new intermodal services.
“The increase in the number of freight trains (up 14%) and the increase in tonnage (up 17%) prove that many companies, now convinced of its reliability, are returning to cross-Channel rail freight.”
Eurotunnel said its rail freight subsidiaries had played a full part as a vector for growth, with Europorte seeing a substantial increase in revenues – up 26% year on year – mainly as a result of new contract wins, and GB Railfreight had established new links to Italy.
Overall traffic figures for 2011 showed 1.26 million trucks had used Eurotunnel shuttles, up 16% on 2010; and rail freight operators, including group subsidiary Europorte and rivals DB Schenker and SNCF, sent 2,388 trains through the tunnel, carrying 1.32 million tonnes of freight (up 17%).
The statement said: “Overall, even though the economic crisis is not yet over and the competition remains fierce across the Channel, customer loyalty to Eurotunnel is clear.”
Courtesy of IFW
