Eurotunnel has released its 2010 annual results. Some of the highlights of the report include:
- Revenues increased substantially to €737 million (+26% at a constant exchange rate)
- No insurance indemnities for operating losses following the fire in 2008 accounted for in 2010 (€69 million included in 2009)
- Trading profit increased to €180 million and, like for like, by +80%
- Net loss of €57 million due to the absence of insurance indemnities and to a charge of €4.5 million linked to the reconditioning of a Shuttle
- Increase in cash to €316 million at 31 December 2010, compared to €251 million at 31 December 2009
- Continuation of dividend policy: dividend payment to be put to vote at AGM on 28 April 2011 (4 euro cents)
The board of directors, chaired by Jacques Gounon has finalised the accounts for the year to 31 December 2010:
Jacques Gounon, Chairman and Chief Executive Officer of the Eurotunnel Group stated:
“Eurotunnel has regained its place as leader in the cross-Channel market and is developing its activities in rail freight, a sector which fits perfectly with the Group’s ambitions for sustainable development. As announced previously, the delay in payment of the insurance indemnities has impacted heavily on our net result but the Group is working to rectify this situation. As proof of our confidence, we will propose a dividend payment for 2010 at the AGM.”
