24 January 2017 - 6:30 a.m.
Eurotunnel Group: Revenue up for 2016 Revenues for the year 2016, are €1.023 billion, an increase of 4% like for like1, restated following the sale of GB Railfreight and reported at a constant exchange rate- Successful sale of GBRf in November 2016
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Channel Tunnel Fixed Link
- Revenues from Shuttle Services increased by 10% to €602.7 million
- Record traffic for Truck Shuttles with 1,641,638 vehicles transported, an increase of 11%
- Eurostar: 10 million passengers, with a significant improvement towards the end of the year
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Europorte (excl. GBRf): Revenue down (-6%)
Jacques Gounon, Chairman and Chief Executive Officer of Groupe Eurotunnel SE, stated: « 2016 saw the successful sale of GBRf and demonstrated the Group's ability to achieve a very significant 4% like for like growth. The Group's sustained performance enables us to be confident in achieving our objectives. »
1 All comparisons with 2015 are made using the average 2016 exchange rate of £1=€1.216 and after restating for the application of IFRS 5 following the sale of GBRf in November 2016.
► Fourth Quarter 2016: key facts Channel Tunnel Fixed Link
Eurotunnel's Truck Shuttle Service has achieved fourteen months of record traffic compared to corresponding periods. In 2016, more than 1.64 million trucks passed through the Channel Tunnel, an all-time record.
Eurotunnel's Le Shuttle Passenger Service achieved its best traffic levels since 2000, with more than 2.66 million passenger vehicles transported.
The Report "Economic Footprint of the Channel Tunnel Fixed Link", published in November 2016 by EY, shows that 25% of trade between the UK and continental Europe passes through the Channel Tunnel, representing a value of more than £91 billion.
The growth in revenues from Shuttle Services also includes a managed increase in yield and confirms the pricing power of the Shuttle activity.
Europorte and its subsidiaries
On 15 November 2016, the Eurotunnel Groupe completed the sale of its UK rail freight subsidiary, GB Railfreight, to EQT Infrastructure II.
ElecLink
The initial preparatory works have commenced with Siemens and Balfour Beatty.
► RE VENUES: FULL YEAR (excluding MyFerryLink and GBRf)
€ million | 2016 unaudited | 2015 recalculated* | Change | 2015 restated** |
Exchange rate: £1 | €1.216 | €1.216 | €1.375 | |
Shuttle Services | 602.7 | 545.9 | +10% | 579.7 |
Railway Network | 290.9 | 300.0 | -3% | 319.2 |
Other revenues | 14.1 | 15.3 | -8% | 16.2 |
Sub-total Fixed Link | 907.7 | 861.2 | +5% | 915.1 |
Europorte | 115.8 | 122.7 | -6% | 122.7 |
Revenues | 1,023.5 | 983.9 | +4% | 1,037.8 |
► REVENUES: FOURTH QUARTER (excluding MyFerryLink and GBRf)
€ million | 4th quarter 2016 unaudited | 4th quarter 2015 recalculated* | Change | 4th quarter 2015 restated** |
Shuttle Services | 135.4 | 122.7 | +10% | 132.4 |
Railway Network | 69.8 | 69.5 | 0% | 75.7 |
Other revenues | 3.2 | 3.8 | -16% | 4.1 |
Sub-total Fixed Link | 208.4 | 196.0 | +6% | 212.2 |
Europorte | 29.3 | 30.2 | -3% | 30.2 |
Revenues | 237.7 | 226.2 | +5% | 242.4 |
* Average exchange rate for 2016 : £1=€1.216.
** Average exchange rate for 2015: £1=€1,375, restated for IFRS 5 following the sale of GB Railfreight in November 2016.
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Channel Tunnel Fixed Link Concession
At €907.7 million, revenue for the Fixed Link showed an increase of 5% in 2016. Including Europorte, consolidated revenues for the Eurotunnel Group grew to €1.023 billion, a like for like increase of 4%.
Revenue from Shuttle Services increased by +10% to €602.7 million compared to the same period in the previous year through an increase in yield.
Revenue from the Railway Network was down 3% due to the reduction in Eurostar traffic as a consequence of the terrorist attacks in Belgium in March and Nice in July.
- Rail freight operators: Europorte and its subsidiaries
Revenue for Europorte was down 6% due to the long and repeated SNCF strikes which paralysed the French national infrastructure for 2 months and to the poor cereal harvest in 2016, the worst for 30 years.
► FIX ED LINK TRAFFIC: FULL YEAR
2016 | 2015 | Change | ||
Truck Shuttles | Trucks | 1,641,638 | 1,483,741 | +11% |
Passenger Shuttles | Cars ¹ | 2,610,242 | 2,556,585 | +2% |
Coaches | 53,623 | 58,387 | -8% | |
High speed trains ² | Eurostar passengers | 10,011,337 | 10,399,267 | -4% |
Rail freight trains 3 | Tonnes | 1,041,294 | 1,420,826 | -27% |
Trains | 1,797 | 2,421 | -26% |
► FIX ED LINK TRAFFIC: FOURTH QUARTER
Q4 2016 | Q4 2015 | Change | ||
Truck Shuttles | Trucks | 411,582 | 381,602 | +8% |
Passenger Shuttles | Cars ¹ | 565,144 | 532,563 | +6% |
Coaches | 13,566 | 13,784 | -2% | |
High speed trains ² | Eurostar passengers | 2,462,852 | 2,412,356 | +2% |
Rail freight trains 3 | Tonnes | 275,076 | 245,787 | +12% |
Trains | 470 | 426 | +10% |
1 Includes motorcycles, vehicles with trailers, caravans and camper vans.
2 Only passengers travelling through the Channel Tunnel are included in this table, excluding those who travel between Paris-Calais and Brussels-Lille.
3 Rail freight services by train operators (DB Schenker on behalf of BRB, the SNCF and its subsidiaries, and Europorte) using the Tunnel.
A. Channel Tunnel Fixed Link ConcessionThe advantages of the Channel Tunnel, security, reliability, speed, frequency and the environmental benefits are widely appreciated by our customers. The proof is the almost 21 million passengers carried this year.
Shuttles Services
Truck Shuttles: As a result of continuing growth in the UK economy and the security provided to transporters through the Group's investments, 2016 was an exceptional year, largely outperforming the market (5% growth), with a significant increase in volume (+11%) to reach an all-time record of
1.64 million trucks transported. Eurotunnel confirmed its place as the principal actor in the market with a market share of approximately 39.2% for the year, and continued this particularly solid dynamic as demonstrated by the December market share of 41%.
Le Shuttle Passenger: car traffic increased by +2% to more than 2.6 million vehicles and out- performing the market which declined by -2% in 2016. This is a remarkable performance in the difficult context following the terrorist attacks which led to a reduction in tourism in France. The Le Shuttle
Groupe Eurotunnel SE published this content on 24 January 2017 and is solely responsible for the information contained herein.
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