COVID-19 and Brexit implementation hammer Eurotunnel

Eurotunnel’s shuttle services, turnover and earnings have all taken a hit last year. Operating company Getlink published its annual report showing that it experienced losses in all transport segments.

Total earnings fell by 11 per cent to reach 297 million euros, while revenue came out at 774 million euros, down 6 per cent 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 compared to last year’s figures.

All traffic numbers down

Truck shuttles carried more than 1,36 million vehicles, a drop of 6 per cent compared with 2020 numbers. At the same time, freight volumes also experienced a significant decrease of 9 per cent to 1,04 million tonnes.

Regarding passenger traffic, last year, just over 953,000 passenger cars used the Eurotunnel, a 32 per cent decline compared to 2020. The number of coaches using the passenger shuttle was cut in half to 7,052. The number of passengers on the Eurostar decreased by 35 per cent last year to 1,637 million. Getlink explained 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.”

This article was officially published on our sister publication

Author: Nick Augusteijn

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