Eurotunnel results upbeat despite rise in security costs

As the turmoil in Calais continues, the Eurotunnel Group has revealed that it spent €13 million on security measures during the first half of the year.  The figure is comparable to the total expenditure for the whole of 2014.

In its half-year results, the cross-Channel Fixed Link operator also indentified that it is seeking a reimbursement of €9.7 million from the French and British governments to address security costs, as it has done previously.

Despite the disruption caused by the large concentration of migrants in the Calais area and the ongoing industrial action by SCOP SeaFrance personnel, Eurotunnel reports that ‘business remains dynamic, driven by the recovery in the UK economy and, to a lesser extent, in the Euro zone’.

The half-year results statement also outlines that during the first half of this year revenues for the Shuttle Services increased by 9% overall compared to the first half of 2014.  The truck business saw an increase of 8% in volumes to 752,290 vehicles, with a market share of 37.5%.  The rail freight business also grew by 4% in the first half of 2015 largely due to the commercial impact of the Eurotunnel Incentive for Capacity Additions (ETICA).

Jacques Gounon, Eurotunnel Group’s chairman and chief Eexecutive officer, stated: “The Eurotunnel Group’s results for the first half year of 2015 are consistent with the dynamism of the previous quarters.

“We are confident that this positive trend will continue through the second part of the year.  At the same time, we continue to invest in the quality of service of our rolling motorway so that we will be ready to transport two million trucks in 2020.

“This performance is the fruit of the efforts and commitment of our 4,000 employees on both sides of the Channel who, despite a sometimes complicated environment, ensure that we offer our customers an excellent, competitive, fast, reliable and comfortable service, every day.”