TIDMGETS
Jacques Gounon, Chairman and Chief Executive Officer of Groupe
Eurotunnel SA (Paris:GET) (LSE:GETS), stated:
"In an active market, the Eurotunnel Group has made significant
progress in all areas of the business. Attention to customer needs,
transparent pricing and protection of the environment are the three
pillars of our service offer which is proving to be increasingly
attractive, especially as we approach the London 2012 Olympic
Games."
Revenues
Total revenue for the Eurotunnel Group in the first quarter of
2012 reached EUR222.5 million, an increase of 21% compared to 2011,
at a constant exchange rate of GBP1=EUR1.199.
A.Channel Tunnel Fixed Link
Revenues for the Fixed Link segment increased sharply in the
first quarter of 2012, led by the Shuttle business and revenues
from the railway network.
Revenues from the core business, the transport of trucks and
passenger vehicles by Shuttles, reached EUR101.7 million, an
increase of 21% compared to the same period in the previous year at
a constant exchange rate.
Revenues generated by the usage of the railway network reached
EUR67.5 million, an increase of 10% for the first quarter of
2012.
Other revenues increased by 18% to EUR2.3 million.
B.Rail freight operators: Europorte and its subsidiaries
The Europorte rail freight subsidiaries generated EUR51 million
during the first quarter, an increase in revenues for the period of
38%.
Revenue
In million euros 1st quarter2012unaudited 1st quarter2011recalculated* Change2012/2011 1st quarter2011published**
Eurotunnel Shuttles 101.7 83.9 + 21% 81.7
Railway network 67.5 61.5 + 10% 59.9
Other revenues 2.3 2.0 + 18% 1.9
Sub-total Fixed Link 171.5 147.4 + 16% 143.5
Europorte 51.0 36.8 + 38% 35.7
Revenue 222.5 184.2 + 21% 179.2
* Exchange rate 1(st) quarter 2012: GBP1=EUR1.199
** Exchange rate 1(st) quarter 2011: GBP1=EUR1.132
Traffic
1st quarter2012 1st quarter2011 % change
Truck Shuttles Trucks 364,724 301,074 + 21%
Passenger Shuttles Cars ¹ 427,739 399,869 + 7%
Coaches 10,615 9,544 + 11%
Passenger trains Passengers 2,235,083 2,152,369 + 4%
Eurostar ²
Rail freight trains3 Tonnes 313,056 305,789 + 2%
Trains 589 589 0%
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 travelbetween Paris-Calais and Brussels-Lille.
(3) Rail freight services by train operators (DB Schenker on behalf of BRB, the SNCF and its subsidiaries andEuroporte) using the Tunnel.
A. Channel Tunnel Fixed Link
Eurotunnel Shuttles
Shuttle traffic increased significantly in all areas compared to
the first quarter in 2011, particularly for the Truck Shuttles
which are all the more competitive in the current state of the
cross-Channel market. During the quarter, Eurotunnel benefitted
from the transfer of some traffic from SeaFrance which ceased
operations in November 2011, but proportionally less than the other
cross-Channel operators who put significant extra capacity into
service. The Tunnel attracts its customers due to its long-term
core strengths: the speed and frequency of departures, the high
levels of punctuality and the simplicity of the transport
system.
Truck Shuttles
The positive trend seen at the end of 2011 has been largely
confirmed during the first quarter in terms of both market share
and yield. The number of trucks transported by Shuttles increased
to 364,724, 21% more than in the same period in 2011, due in part
to a higher than forecast level of express deliveries in a market
which grew at an estimated 2 to 3% (after adjusting for calendar
effects due to the Leap Year). Eurotunnel's commercial strategy,
with its long term approach and independence from fluctuations in
the price of oil, is appreciated by customers seeking
stability.
Passenger Shuttles
The number of cars transported increased by 7% to 427,739,
supported at the end of the quarter by the start of the Easter
holidays, which in 2011 fell in the second quarter. The Channel
Tunnel consolidated its competitive position in a market which had
contracted by an estimated 1.4% in the first quarter. The coach
business saw traffic increase by 11%, with large numbers of British
holiday makers heading for the ski slopes.
Horse transport
The horse transport service continues to develop to meet the
increasing demand for the London 2012 Olympic Games. The French
Equestrian Team has chosen Eurotunnel to transport its horses for
the London Olympics.
Railway network
Eurostar passenger trains
With 2,235,083 passengers, Eurostar continues to show progress
in traffic transported through the Tunnel (+4%), largely due to
promotions for leisure travel linked to sporting events organised
in France during the quarter (Six Nations and European Cup
Rugby).
Rail freight services
The number of freight trains is stable (589 trains) compared to
the same period last year: the extra toll imposed by Réseau Ferré
de France (RFF) at Frethun, on each operator passing through the
Tunnel, appears clearly to have a negative impact on the growth
that Eurotunnel had achieved in the rail freight sector. In order
to reduce this extra cost, Eurotunnel has suggested to RFF, that it
take over the management of the yard at Frethun.
B. Rail freight operators: Europorte and its subsidiaries
The rail freight subsidiaries of the Eurotunnel Group, which
operate as Europorte, continue to see strong growth across the full
range of services:
Infrastructure management: Europorte continues to strengthen its
position. Ports de Paris has chosen Europorte, in partnership with
Colas Rail, to manage the operation and maintenance of the railway
infrastructure at the ports in Gennevilliers (92),
Bonneuil-sur-Marne (94) and Limay (78). Ports de Paris, which has
railway infrastructure of almost 60km, is the largest river port in
France and the second largest in Europe.
Railway operations: the contract with leading European transport
and logistics company, Gefco, has started as planned with weekly
services between Gevrey, Amberieu, Fos-sur-mer, Marseille, Toulouse
and Bordeaux.
GB Railfreight, the third largest rail freight operator in the
UK, continues to grow. It has recently won a two year contract to
transport more than a million tonnes of waste from tunnelling on
the Crossrail project in London. The material will be taken from
the Westbourne Park tunnel in west London to Northfleet in Kent.
During the course of the contract, GB Railfreight will provide
around 860 trains hauled by class 66 locomotives.
Rail freight, the sustainable transport solution for the future,
continues to demonstrate its potential for growth every day.
Forthcoming event in 2012:
26 April 2012: Groupe Eurotunnel SA AGM at 10 a.m in Coquelles
(France), Salle Calquella, Chemin Rouge Cambre, 62231 Coquelles
Documents are available on line at www.eurotunnelgroup.com
1All comparisons with 2011 are made at the exchange rate for the
first quarter of 2012: GBP1=EUR1.199.
Groupe EurotunnelFor media enquiriesJohn Keefe, +44 (0) 1303
284491Consultantpress@eurotunnel.comorFor investor enquiriesMichael
Schuller, +44 (0) 1303 288749Michael.schuller@eurotunnel.com
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