Eurotunnel in Folkestone sees revenues rise by 7% to nearly €350m (£276.5m) in third quarter of the year following passenger records this summer
Published: 17:00, 22 October 2014
Updated: 17:23, 22 October 2014
Revenues at Eurotunnel grew to nearly €350m (£276.5m) in the third quarter of this year after breaking several passenger records over the summer.
The 7% rise compared with the same time last year came as shuttle turnover grew by the same percentage to €160.3m (£84.1m).
The company, which operates the Channel Tunnel linking Folkestone and Pas-de-Calais, was also buoyed by a 20% growth in revenues at MyFerryLink to €30.3m (£24m).
However, this is dampened by the Competition and Markets Authority’s decision in June to ban the company from running cross-Channel ferries for 10 years.
Eurotunnel is still appealing the ruling.
Despite this, Eurotunnel anticipates tougher regulations on ferry pollution, known as Marpol, will give it an advantage as ferry operators are forced to raise prices to deal with the cost implications of the new rules.
“This summer Eurotunnel set new records for traffic and this momentum is continuing..." - Eurotunnel's Jacques Gounon
Chairman and chief executive Jacques Gounon said: “This summer Eurotunnel set new records for traffic and this momentum is continuing.
“The energy in the UK economy and the application of the Marpol environmental regulations to the ferry companies from January 2015, strengthen the Eurotunnel Group’s competitive advantages.”
Eurotunnel Le Shuttle broke several records this summer, with 375,000 vehicles transported in August. The daily record was broken three times, reaching a new peak of 16,416 vehicles.
The operator’s weekly record was also broken, with 85,400 vehicles were carried from August 11 to 17.
Although truck traffic on its shuttle service grew by 6% and cars by 3%, the number of trucks fell by 7% to less than 15,000.
Eurostar passenger numbers grew by 3% to 2.8m.
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Chris Price