Eurotunnel reports major increase in rail freight activity

The cross-Channel operator has recorded significant growth figures during the first half of 2011, reports Michael Parry

Eurotunnel’s half year results for the first six months of 2011 show that revenue increased to €396 million, an increase of 22% over the same period last year.  A net profit of £2 million is in stark contrast to a loss of £47 million for the same period last year.

From the beginning of this year to the end of June truck shuttles increased by 21% (from 500,975 to 608,632), while rail freight tonnage improved by the same percentage figure (from 589,044 tonnes to 709,861 tonnes).

Jacques Gounon, Chairman and Chief Executive Officer of Groupe Eurotunnel SA, stated: “This first half result is very satisfying: we have increased traffic without sacrificing prices which is positive given the strongly competitive nature of the Short Straits market.  Developments in rail freight have brought expected growth and provide new opportunities for the future.”

With regard to passenger shuttles, Eurotunnel recorded a market share close to 50% for the first half of 2011.  Its market share for truck shuttles has been stable at above 37%.

A statement from the cross-Channel operator identified that ‘the spectacular growth in tonnage transported on rail freight trains travelling though the Channel Tunnel (21%) is linked to the development of ‘Open Access’, which has improved the competitiveness of rail freight, whilst a short term increase in steel traffic has brought an acceleration of this growth’.

Jacques Gounon further indicated that the increase in rail freight movements was in part due to rising fuel costs and environmental concerns.

Earlier this month Groupe Eurotunnel was certified by the Carbon Trust Standard for its policy and achievements in carbon footprint reduction.  Besides being the only cross-Channel operator to publish its carbon footprint, Eurotunnel has achieved a cumulative reduction of 55.5% since 2006.

For further information, visit: www.eurotunnelfreight.com

Published: 22/07/2011