Eurotunnel has reported an annual profit for the first time. The company said that it made a net profit of 1 million euros.
The company said that its revenues increased for the third year in a row, rising six per cent to 775 million euros.
Eurotunel said that it had an exceptional first quarter of 2008, with estimated revenue up 15 per cent to 187.6 million euros. Eurotunnel also said that passenger numbers were up with 454,076 cars (up 11 per cent) and 385,145 trucks (up 10 per cent) going through the tunnel in the first three months of this year.
Jacques Gounon, chairman and chief executive of Eurotunnel, said, 2007 shows that the new Groupe Eurotunnel is nothing like the old. Our Group recorded a pro forma profit of €1 million (excluding the exceptional profit of €3.3 billion). The results are due to remarkable levels of performance and to strict management of operating costs.
They also benefit from the massive reduction in debt achieved through the financial restructuring. The excellent level of activity in the first quarter of 2008 confirms our rapid progress. These results and the future value represented by the Channel Tunnel Concession enable us to look forward to 2008 with confidence and determination.