Eurotunnel Group revenues for the year 2015, excluding MyFerryLink, increased by 5% to €1.222 billion.
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As a result of the application of IFRS 5, revenues for MyFerryLink (€52 million in the first half of 2015) are excluded from the Group’s consolidated revenues for the year ended December 31, 2015.
Channel tunnel Fixed Link
Since the strengthening of security measures at the end of October, the Coquelles site has not experienced any intrusion causing disruption to traffic. Eurotunnel achieved new traffic records for its Truck Shuttle service from November, with almost 134,000 trucks crossing the Channel with Eurotunnel in November.
This trend continued through the month of December and, on December 16, 2015, Eurotunnel delivered its best operational performance of the year with almost 6,800 trucks carried in a single day. Finally, with the added benefit of the new and secure truck terminal operational from October 2015, Eurotunnel’s Truck Shuttle service has had a record year, with 1,483,741 trucks transported, the highest level ever achieved.
During the 4th quarter the Group invested in strategic projects including the introduction of the GSM-R communications system and the renewal of rails in the Tunnel. Shuttle revenue growth has also benefited from an increase in yields.
Europorte
Europorte in France and GB Railfreight benefited during the quarter from the step-up to full capacity on the new contracts signed in 2015, in particular in the UK with the traction of the Caledonian Sleeper and the seasonal work carried out for Network Rail. One of GB Railfreight’s important customers, the steel maker SSI, went into liquidation, a victim of the crisis in steelmaking.
Maritime activities
Following the decision by the Competition Appeal Tribunal on 9 January 2015 (confirmed by the Supreme Court on 16 December 2015) with regard to the prohibition on operating out of the port of Dover for the MyFerryLink ships after 9 July 2015, the Group is forced to announce its withdrawal from its maritime business, despite an excellent first half of 2015: €52 million revenue, an increase of 33% compared to 2014.
In this context, from the second half of the year the Group has applied IFRS 5 to its MyFerryLink maritime segment. As a result, this activity is not included in the revenue and traffic for the Group for 2015 or for the comparative period.
ElecLink
The project has obtained the necessary authorisations from Brussels to operate a high-voltage electric interconnector through the Channel Tunnel, and the main suppliers have been chosen for the construction of the two converter stations, as well as for the manufacture and installation of the cable. ■