11th Jul 2005 07:30
Eurotunnel PLC/Eurotunnel S.A.11 July 2005 EMBARGO: Not for release before 0730 hours (UK time) on Monday, 11 July 2005 TRADING UPDATE: REVENUE & TRAFFIC INCREASES IN FIRST HALF 2005 Operating revenue up 2%; Shuttle Services revenue up 6% Eurotunnel, operator of the Channel Tunnel, today reported revenue and trafficfigures for the first half of 2005. Operating revenue Operating revenue was £268 million in the first half of 2005, a 2% increase onthe corresponding period in 2004 at constant exchange rates. Revenue from Shuttle Services, Eurotunnel's core business, increased by 6%. Railways revenue, including a £36 million payment under the Minimum UsageCharge, was stable at £117 million. Revenue from non-transport activities remains marginal. £ million H1 2005 H1 2004 % change(3) H1 2004 unaudited(1) restated(1) reported(2) Shuttle Services 146 138 + 6% 137 Railways 117 116 + 0% 115 Transport activities 263 254 + 3% 252 Non-transport activities 5 9 - 42% 9 Operating revenue 268 263 + 2% 261 (1) exchange rate £1=€1.468 (H1 2004 operating revenue has been restated at an exchange rate of £1=€1.468 to permit a direct comparison with 2005) (2) exchange rate £1= €1.496 (3) variances are calculated on underlying figures in thousands Shuttle Services Truck shuttles Eurotunnel transported 703,363 trucks in the first half of 2005, an increase of9% compared with the first half of 2004. During the first quarter of 2005,Eurotunnel benefited from the operational difficulties at the Port of Calais.In addition, the increase in traffic reflects the effectiveness of the newfreight strategy. The average yield per vehicle transported also increasedduring the first half of 2005 contributing to an increase in revenue from thetruck shuttle business. Passenger shuttles Eurotunnel transported 951,561 cars in the first half of 2005, an increase of 1%compared to the first half of 2004. The progression recorded in the firstquarter of 2005 did not continue into the second quarter; first quarter trafficbenefited from the operational difficulties at the Port of Calais, and the factthat Easter fell in the first quarter of 2005. Eurotunnel also transported 39,831 coaches in the first half of 2005, a 34%increase on the corresponding period in 2004, although growth slowed in thesecond quarter for the same reason as the car traffic. Coach operators continueto be attracted to Eurotunnel's speed, frequency and quality of service. H1 2005 H1 2004 % change Truck shuttles 703,363 trucks 646,468 trucks + 9% Passenger shuttles 951,561 cars* 944,832 cars* + 1% 39,831 coaches 29,834 coaches + 34% * including motorcycles, cars, vehicles with trailers, caravans and campervans Railways The Channel Tunnel is also used by rail services not operated by Eurotunnel:Eurostar for high-speed passenger services on London-Paris/Brussels, and EWS andSNCF for international rail freight services. Eurostar The number of passengers carried through the Channel Tunnel by Eurostarincreased by 8% in the first half of 2005, confirming the upward trend followingthe opening of the first section of the UK's high-speed line in September 2003. Rail freight The volume of rail freight transported through the Channel Tunnel fell by 13% to847,716 tonnes in the first half of 2005. The level of through-rail traffic using the Channel Tunnel currently has noimpact on Eurotunnel's revenues due to the Minimum Usage Charge arrangements,which continue until November 2006. H1 2005 H1 2004 % change Eurostar 3,675,508 passengers* 3,406,698 passengers* + 8% Rail freight 847,716 tonnes 978,717 tonnes - 13%(EWS/SNCF) * The passenger number given is for Eurostar passengers who travelled throughthe Channel Tunnel, and excludes passengers between Paris-Calais andBrussels-Lille. For media enquiries contact the Eurotunnel Press Office on + 44 (0) 1303 288728or + 44 (0) 1303 288737. Email: [email protected] For investor enquiries contact Xavier Clement on + 33 1 55 27 36 27. Email:[email protected] Eurotunnel manages the infrastructure of the Channel Tunnel and operatesaccompanied truck shuttle and passenger shuttle (car and coach) services betweenFolkestone, UK and Calais, France. Eurotunnel also earns toll revenue fromtrain operators (Eurostar for rail passengers, and EWS and SNCF for railfreight) which use the Tunnel. Eurotunnel is quoted in London, Paris andBrussels. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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