20% reduction in Eurostar traffic in the first quarter of 2020

The Chairman and Chief Executive of Eurotunnel parent Getlink says it will be ready to meet the expectations of customers following the ending of lockdown.

Jacques Gounon says this is because of the immediate reaction to implement protective measures and reducing costs.

The comments come as it is revealed revenue from Q1 was €233 million, down -9% compared to the same period in 2019 and on a like-for-like basis.

Eurotunnel

At €202.1 million, Eurotunnel’s revenue is down -9% in the first quarter of 2020 compared to the same period in 2019.

Revenue for Shuttle activity was €133.6 million, down -9% in comparison to the same period last year, linked to the reduction in Passenger Shuttle traffic and the voluntary reduction in capacity on Truck Shuttles, to guarantee social distancing for drivers. Q1 2019 traffic was enhanced by stockpiling in the UK before the first Brexit date in March 2019.

Revenue for the railway network was down -8% to €66.6 million, due to the strong decrease in round trips between countries served by Eurostar.

Rail freight operators: Europorte and its subsidiaries

Europorte has seen a decrease in its revenue of -5% to €30.7 million, due to the strike by SNCF from 13 January and the COVID-19 crisis from 16 March. Despite industrial sites closing, Europorte continues to ensure all customer orders.

Railway Network

• High-speed trains: Eurostar saw a 20% decrease in traffic in the first quarter of 2020 with nearly 2 million passengers travelling. This reduction in traffic is partly explained through the impact of the SNCF strike against pension reform in January 2020, and partly by travel restrictions implemented by the UK, French and Belgian authorities in March to limit the impact of the COVID-19 pandemic.
• Cross-Channel rail freight: In the first three months of the year, the number of railway freight trains passing through the Tunnel has seen a decrease of -18%, to 491 trains.

Among the key events in 2020

• Cancellation of the 2019 dividend payment proposal;
• Governments’ decisions on lockdown, from 9 March (Italy) to 23 March (UK).

Eurotunnel

• Rapid and decisive reaction by our teams to falling traffic since the lockdown announcements by the French and then British governments : adapting on-site with social distancing and sanitary measures, furloughing of UK staff (and “activité partielle” in France), postponing projects and introducing traffic management with the new health and comfort measures (voluntary reduction in on-board capacity on Truck Shuttles);
• Appointment of Deborah Merrens as Chief Commercial Officer for Eurotunnel Le Shuttle;
• Unanimous signing of a professional equality agreement with staff representatives.

Jacques Gounon, Chairman and Chief Executive Officer of the Group said: “Travel restrictions linked to the current health crisis have affected the Group’s traffic and revenue in similar proportions to comparable modes of transport.

“In the coming weeks, the Group will build on its key strength linked to the supply of essential products to the United Kingdom and France. Having reacted immediately by implementing protective measures and reducing costs, the Group is ready to meet the expectations of its customers following the ending of lockdown.”

The full details can be viewed here.

Photo credit: Gary Perkin / Shutterstock.com

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