Regulatory News:
GROUPE EUROTUNNEL SE (Paris:GET)
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
► 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
► 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. »
► 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.
► REVENUES: 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.
A. 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.
B. 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.
► FIXED 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%
► FIXED 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 Concession
The 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 car market share grew to 55% in 2016. The trend in
the last quarter was positive with +6% additional traffic.
Railway Network
- High speed trains: Although
Eurostar traffic was down for 2016 as a whole, it is interesting to
note that the trend was reversed in the final quarter with a growth
of 2%, supported by a record month in December (+9% compared to
December 2015). The upturn of traffic at the end of the year, the
good figures for the 2016 Christmas period and the upcoming launch
of Eurostar London-Amsterdam services all augur well for growth of
this traffic through the Channel Tunnel.
- Cross-Channel rail freight
suffered a reduction in traffic in 2016 (number of trains down by
26%, goods tonnage down by 27%) due to the pressure of migrants on
the SNCF Réseau yard at Calais-Frethun during 2015, which led to
route changes for some operators. There has, however, been an
upturn in the trend over the past few months, with traffic up by
10% compared to the fourth quarter of 2015.
The Eurotunnel Group’s full year results will be published on
the 1st March prior to the opening of trading.
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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170123006162/en/
Eurotunnel
Contacts:For UK media enquiriesJohn Keefe
on + 44 (0) 1303 284491press@eurotunnel.comFor other media
enquiriesAnne-Laure Desclèves on +33(0)1 4098 0467orFor
investor enquiriesJean-Baptiste Roussille on +33 (0)1 40 98 04
81jean-baptiste.roussille@eurotunnel.comorMichael Schuller on +44
(0) 1303 288749Michael.schuller@eurotunnel.com
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