Eurotunnel Shows Continued Growth

Overall under the direction of the new Groupe Eurotunnel, traffic through the Channel tunnel had a pro forma profit of €1 million in 2007, leading Jacques Gounon, chairman and CEO of the organization to note that, “2007 shows that the new Groupe Eurotunnel is nothing like the old.”

Claiming to be the world leader in intermodal transport volume, Eurotunnel moved some 1.415 million trucks on its shuttles during 2007. It reached a milestone of moving its 12 millionth heavy goods vehicle last May. The increase in truck traffic was 9% more in 2007 than 2006.

Eurotunnel says it has a 38% share of its market. It boasts that 90% of trains leave within three minutes of their scheduled time. Average door-to-door transit time between France and England is 90 minutes. As truck drivers have become familiar with the automatic registration system installed in 2006, there has been a reduction in the average time for each transaction. Such operations took an average of 45 seconds as 2007 began and by the end of the year that time was reduced to 30 seconds.

In January 2007 a revised timetable was introduced for the Shuttle. It has been adjusted for seasonal variations in traffic. Now during eight months of the year there is at least one departure every 15 minutes. Such a schedule was maintained for only six weeks during 2006.

Overall revenues for the first quarter of 2008 are €187.6 million, an increase of 15% year over year. Observes Gounon, “The results are due to remarkable levels of performance and to strict management of operating costs. 
They also benefit from the massive reduction in debt achieved through financial restructuring.The excellent level of activity in the first quarter of 2008 confirms our rapid progress. These results and the future value represented by the Channel Tunnel Concession enable us to look forward to 2008 with confidence and determination.”

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