TIDMGETS
Jacques Gounon, Chairman and Chief Executive of Groupe
Eurotunnel SA (Paris:GET) (LSE:GETS), stated: "In a difficult
economic context, Groupe Eurotunnel has 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."
? 2011 REVENUE: (FULL YEAR)
2011 2010 Change 2010
In million euros un audited recalculated* 2011/2010 published**
Eurotunnel Shuttles 398.8 362.4 + 10% 365.9
Railway network 278.4 261.1 + 7% 263.3
Other revenues 9.8 9.6 + 1% 9.7
Sub-total Fixed Link 687.0 633.1 + 9% 638.9
Europorte 157.8 97.0 + 63%1 97.7
Revenue 844.8 730.1 + 16%2 736.6
126% like for like
211% like for like
? REVENUE FOR THE FOURTH QUARTER 2011
In million 4th quarter 4th quarter Change 4th quarter 2010
euros 2011 2010 2011/2010
un audited recalculated* published**
Eurotunnel 100.5 88.1 + 14% 86.2
Shuttles
Railway network 68.1 68.2 0% 67.3
Other revenues 2.4 2.5 - 4% 2.4
Sub-total Fixed 171.0 158.8 + 8% 155.9
Link
Europorte 46.0 31.2 + 48% 31.1
Revenue 217.0 190.0 + 14% 187.0
*Average exchange rate for 2011: GBP1=EUR1.148
**Average exchange rate for 2010: GBP1=EUR1.169
The consolidated revenues for Groupe Eurotunnel for 2011 reached
EUR844.8 million, an increase of 16% compared to 2010 (11% like for
like).
A. Cross-Channel Fixed Link
The advantages of the Channel Tunnel, its reliability, its speed
and respect for the environment are appreciated by its customers.
Shuttle Services have seen strong growth, 10%, in revenue in 2011.
The number of cars transported has continued to increase, reaching
more than 2.2 million, a higher level than recorded in 2007,
alongside more than 1.2 million trucks.
In just short of 18 years, 284 million people and 57 million
vehicles have travelled through the Channel Tunnel.
? TRAFFIC 2011 (full year)
2011 2010 Change
Truck Shuttles Trucks 1,263,327 1,089,051 + 16%
Passenger Shuttles Cars ¹ 2,262,811 2,125,259 + 6%
Coaches 56,095 56,507 - 1%
Passenger trains Passengers 9,679,764 9,528,558 + 2%
Eurostar ²
Rail freight trains3 Tonnes 1,324,673 1,128,079 + 17%
Trains 2,388 2,097 + 14%
? TRAFFIC FOR THE FOURTH QUARTER 2011
4th quarter 2011 4th quarter 2010 Change
Truck Shuttles Trucks 344,696 305,100 + 13%
Passenger Cars ¹ 508,863 455,121 + 12%
Shuttles
Coaches 13,089 12,766 + 3%
Passenger Passengers 2,353,276 2,278,702 + 3%
trains
Eurostar ²
Rail freight Tonnes 287,469 267,902 + 7%
trains3
Trains 550 509 + 8%
¹Includes motorcycles. vehicles with trailers. caravans and
camper vans.
²Only passengers travelling through the Channel Tunnel are
included in this table. excluding those who travel between
Paris-Calais and Brussels-Lille.
3Rail freight services by train operators (DB Schenker on behalf
of BRB. the SNCF and its subsidiaries. and Europorte) using the
Tunnel.
Eurotunnel Shuttles
-- Truck Shuttles: Over the year, Freight Shuttle traffic
experienced double figure growth, 16%, increased its market
share
substantially, 3.5%, to reach more than 38% for the full
year,
culminating at 45% during December. The cross-Channel market
for
trucks saw a further year of growth (estimated at +5%); the
growth in
Eurotunnel traffic which was well above the overall market
should not
hide the contraction in the cross-Channel market as a result of
the
economic crisis which is estimated at -12% compared to 2007.
-- Le Shuttle (Passenger Shuttles): Eurotunnel car traffic has
proven to be just as dynamic (+6%) even though the
cross-Channel
market contracted slightly in 2011. It should be noted that 2010
was
marked by the paralysis of air traffic following the eruption of
the
Icelandic volcano, which prompted a major transfer of traffic
to
surface routes. Eurotunnel increased its market share by almost
3
points in 2011, with customers who were concerned about the
control
they have over their travel arrangements (storm delays,
industrial
action), choosing Le Shuttle as a reliable and cost
effective
alternative (when travelling with several passengers per
vehicle,
crossing with Le Shuttle can bring significant savings). The
Tunnel
has retained a strong competitive position and has shown growth
above
that of the ferries, underlining the strength of its model and
the
efficiency of its staff in adapting to sudden changes in
demand.
During each of the holiday periods, which are crucial moments
for
transport operators, Eurotunnel carried more cars than in
2010.
Overall, even though the economic crisis is not yet over and the
competition remains fierce across the Channel, customer loyalty to
the Eurotunnel service is clear. The high frequency of Shuttle
departures, the speed of crossing, the punctuality and the minimal
impact on the environment are what continue to attract business
users and passengers to Eurotunnel. In the fourth quarter, the
problems at SeaFrance added to the growth in both truck traffic,
which increased by 13%, and car traffic (+12%).
Railway Network
-- Passenger trains Eurostar: The growth apparent in the first
half year slowed in the second. Eurostar continues to maintain
its
progress, despite a reduction in capacity provided (2 return
trips
less per week day, between London and Paris and London and
Brussels,
compared to 2009), and as a result carrying close to 9.7
million
passengers, just short of the goal of 10 million. Exceptional to
come,
such as the Jubilee celebrations in June and the London Olympic
Games
in the summer, should enable new records to be reached in
2012.
-- Train operators: rail freight services: For the first time in 7
years, the regeneration can be seen in concrete results with
the
launch of new intermodal services. The increase in the number
of
freight trains (+14%) and the increase in tonnage (+17%) prove
that
many companies, now convinced of its reliability and
punctuality, are
returning to cross-Channel rail freight. Rail freight is a mode
of
transport for the future, competitive and respectful of the
environment.
B. Rail freight operators: Europorte and its subsidiaries
The rail freight subsidiaries have played a full part as a
vector for growth. Europorte has seen a substantial increase in
revenues (+26% like for like) as a result of the signature of new
contracts and the maintenance of all the established Europorte
France contracts. Industry has shown its confidence in the way the
group is developing rail freight based on service quality,
punctuality and satisfactory working conditions for the employees.
To continue in this vein, Europorte has made significant
investments in rolling stock and recruitment. The vitality of GB
Railfreight, the third largest rail freight operator in the UK, and
of Europorte Channel has been maintained, with GB Railfreight
establishing new links to Italy and Europorte Channel lines to
Spain for the refrigerated transport of fruit and vegetables.
1 All comparisons with 2010 are made at a constant exchange rate
of GBP1=EUR1.148
2 Like for like, taking account of GBRF revenues for the period
from January to May 2010 (before it was acquired by Groupe
Eurotunnel on 28 May 2010), the growth in consolidated revenues for
the group is 11%.
3 The like for like growth in Europorte revenues is 26%.
For media enquiries contact John Keefe Consultant on +44 (0)
1303 284491Email: press@eurotunnel.com
For investor enquiries contact Michael Schuller on +44 (0) 1303
288749Email: Michael.schuller@eurotunnel.com
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