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Eurotunnels targets EBITDA of €500m (£418m) in 2015 as it finalises 2013 accounts, recording revenues of €1.092 billion (£913m), an increase of 12%

13 March 2014
by Chris Price

Eurotunnel has set its sights on earning more than €500m (£418m) in 2015 after finalising accounts for 2013, which saw revenues top €1bn (£836m).

The Channel Tunnel operator managed an EBITDA – earnings before interest, taxes, depreciation, and amortization – of €449m (£375.5m) in 2013.

Revenues reached €1.092 billion (£913m), an increase of 12%, leaving it with a net profit of €101m (£84m).

A passenger shuttle at the Channel Tunnel

A passenger shuttle at the Channel Tunnel

The company proposes increasing its dividend to shareholders by 25% to €0.15 per share from €0.12 in 2012, to be proposed at the AGM on April 29.

Eurotunnel chairman and chief executive Jacques Gounon said: “In 2013, the Eurotunnel Group recorded another record year despite the highly competitive environment.

“In this year, the 20th anniversary of the Channel Tunnel, the group has set itself new targets for the creation of value, with an objective for EBITDA of more than €500m in 2015.”

Eurotunnel also owns Dover to Calais operator MyFerryLink, which is subject to a review by the Competition Commission, which is expected to announce its decision in May.

It lost €22m (£18m) in 2013, although its established a solid share of the freight market of 9% and revenues of €74m (£61m), compared to just €7m (£5.8m) for the four and a half months of activity in 2012.

It transported 316,811 cars and 326,274 freight units in 2013.

Eurotunnel’s shuttle services carried 2.5 million passenger vehicles and 1.4 million trucks between Folkestone and Coquelles in the Pas-de-Calais.

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