Eurotunnel revenues boosted by shuttle demand

Eurotunnel revenues boosted by shuttle demand

A strong demand from passengers has led to Channel Tunnel operator Eurotunnel to report stronger revenues in 2010, despite falling rail freight.

Car shuttle traffic rose 11 percent on 2009, while truck and coach traffic also improved year-on-year. However rail freight figures, which includes income from Eurostar as well as freight services, fell.

Overall, revenues rose a healthy 26 percent to €736.6m.

Eurotunnel also said it experienced a 3 percent overall growth in passengers travelling through the tunnel.

Chief Executive Jacques Gounon said: “Despite the very difficult economic situation, Eurotunnel’s activities have shown strong growth. Regaining our market share across the Channel has been continuous and we have, at the same time, successfully integrated the new rail freight businesses.

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“The group is ready to continue in the same vein.”

Eurotunnel’s fourth-quarter revenues were up 29 percent as truck shuttle traffic recouped some of the losses of the previous three quarters.

“The extreme bad weather in December 2010 has had a significant impact on the roads leading to and from the terminals and speed limits on Eurostar trains affected the volumes throughout the month, which could therefore have been even better,” Eurotunnel said.