Channel Tunnel operator Eurotunnel sees first quarter revenues rise by 8%

Eurotunnel has hiked first quarter revenue by 8% despite harsh winter weather hitting freight traffic.

The Channel Tunnel operator reported today that total group revenue for the first quarter of 2013 increased to £202million, up 8% on the same period in 2012 (£188million).

As much as £85million came from the Shuttle operation and £47million (up 9%) from its Europorte rail freight business.

The number of cars transported increased by 4% to 445,653, while rail freight train numbers rose by 6% to 624 trains.

But Truck Shuttle traffic fell back by 9% to 333,167 vehicles. Eurotunnel blamed "the particularly harsh winter, which led to significant disruption on both sides of the Channel".

Its controversial purchase of three former SeaFrance ferries and leaseback to a French co-operative to create My Ferry Link brought in £9.5million.

The cross-Channel operator between Dover and Calais carried 56,795 trucks and 30,323 passenger vehicles.

The British Competition Commission has given a preliminary ruling against the deal, contrary to a decision by its French counterpart.

Eurotunnel said if the ruling is confirmed, it would "penalise" customers because My Ferry Link had "demonstrated its relevance, its value and its potential for customers".

Jacques Gounon, group chairman and chief executive, said: "The start of the year has been marked by a severe winter which disrupted both road and rail traffic on several occasions.

"In a difficult economic climate and in the absence of the positive leverage brought by the London 2012 Olympic Games, the Eurotunnel Group has maintained an attractive and efficient level of service across all segments of activity, as reflected in the rise in revenues."

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