Eurotunnel recorded a net profit of €1.4m (US$1.9M) last year, despite traffic declines due to the recession, bad weather and the knock-on effects of the 2008 fire.
The profit is proof of its resilience, said CEO Jacques Gounon.
Eurotunnel said freight traffic declined in 2009 because of the recession, a fire in the tunnel at the end of 2008 that meant continued reduced capacity until February 2009, and bad weather at the end of the year. It estimated that the cross-Channel truck market had fallen 20% on 2007 levels.
A reduction in external operating costs of 11%, excluding insurance premiums, contributed to the net profit.
Gounon said: “The results for the year 2009 are proof of Eurotunnel’s resilience in the face of difficulties.
“Our group has remained profitable in an unfavourable economic context. This performance shows it is in good shape to benefit from the economic recovery, as soon as it begins.”
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