COVID-19 and Brexit implementation hammer Eurotunnel

source: Getlink

Eurotunnel’s shuttle services, turnover and earnings have all taken a hit last year, operating company Getlink’s 2021 annual results published on Thursday show.

Total earnings fell by 11 percent to reach 297 million euros, while revenue came out at 774 million euros, down 6 percent compared with 2020. Getlink’s main revenue streams are those coming from the Eurotunnel and Europorte, Getlink’s rail freight company. Getlink closed 2021 with a net consolidated loss of 229 million euros, more than double last year’s figure.

Truck shuttles carried more than 1,36 million vehicles, a drop of 6 percent compared with 2020 numbers. Last year, just over 953.000 passenger cars used the Eurotunnel, a 32-percent decline. The number of coaches using the passenger shuttle was cut in half to 7,052.

The number of passengers on the Eurostar was down 35 percent last year to 1,637 million, the freight volume down 9 percent to 1,04 million tonnes. Getlink explains that only Eurostar passengers that actually travelled through the tunnel are counted, not those using continental sections.

Getlink is optimistic about its 2022 financial outlook, considering that pandemic-related restrictions are currently being lifted in many countries across the EU. The company will announce its targets “when the trends in the evolution of the pandemic – which are currently positive – are confirmed.”

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Author: Nick Augusteijn

Chief Editor, RailTech.com

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