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20 Mar 2017

BY Jennifer Morris

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Eurostar reports strong financial start to the year

Eurostar has reported a strong start to trading this year following a 4% drop in passenger numbers in the aftermath of terrorist attacks in Europe.

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Eurostar reports strong start to the year

The company said an improvement in the trading environment at the end of last year had continued into 2017.

After a surge in late bookings towards the end of 2016, the business reported its busiest December ever and a strong start to the year. Revenues for the first 10 weeks of the year were up by 12% and the markets outside Europe were reported as “performing well”.

This follows a challenging 2016 in which passenger numbers were down 4% (10 million in 2016 and 10.4 million in 2015) in the aftermath of terrorist attacks in Europe.

 

Revenue decreased by 3% (£794 million 2016; £821 million 2015), a decline of 8% at constant exchange rates. The combination of tough trading conditions and lower demand resulted in an underlying operating loss of £25 million in 2016.

Nicolas Petrovic, chief executive of Eurostar, said: “Despite the difficult trading environment last year, we continued to make major investments in new trains, our stations and our overall service.

 

“With the return of travellers from the US and business travel on the increase, the market is now rebounding strongly and we are optimistic about the growth prospects for the year.”

Eurostar is carrying out a major programme of investment in its fleet, stations and service.

 

In addition to the introduction of its new e320 trains, the company has recently unveiled a new state-of-the-art business lounge in Gare du Nord in Paris.

The new lounge marks the first in a series of enhancements designed to transform the Eurostar experience which are due to be introduced over the coming months.

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