Eurotunnel shows some recovery in Q4 after a difficult 2009

AFTER a difficult year, Eurotunnel is showing some positive signs. In 2009 revenues amounted to €571.1m, 16% lower than in 2008. This is an encouraging outcome against a difficult economic crisis and a period in 2008 that was heavily impacted by the tunnel fire.

Truck shuttle traffic was doubly impacted during the year by the consequences of the fire in September 2008 and by the reduction in economic activity. Only 769,261 trucks travelled through the tunnel last year, 39% lower than in 2008, which saw 1,254, 282 trucks pass through.

However, traffic increased by 12% in the fourth quarter compared to the same period in 2008. “The reduced waiting time associated with crossing the Channel via the Tunnel is a major competitive advantage – particularly for trucks – and contributes to the recovery in market share,” said the company.

Jacques Gounon, chairman and chief executive of Groupe Eurotunnel SA, said: “Despite the difficult economic conditions, Eurotunnel’s activities are showing positive signs. The fourth quarter proves that we are on the right path to regain market share and demonstrates customer confidence in our performance.

“The advantages of Eurotunnel’s transport system - its reliability in all weather, its speed and its respect for the environment - have enabled the Group’s performance to hold up in the context of the economic crisis and put us in a good position as recovery kicks in.”
 
Source: Lioyd's Loading List