Getlink, the operator of the Channel Tunnel (Eurotunnel), announced a consolidated turnover of £1.629 billion in 2023.
This is 14% higher than the previous year, despite a 17% decrease in lorry traffic, which was detrimental because of a sluggish UK economy.
Eurotunnel's turnover was £1.121 billion in 2023, an increase of 8% at a constant exchange rate.
The revenue growth of the railway network was the main driver behind this with a 26% rise to £328 million, along with a 29% increase in Eurostar traffic compared to 2022. In total, more than 10.7 million passengers travelled through the Channel Tunnel on a Eurostar train.
Meanwhile, the revenue from the shuttle service remained stable at £647 million in 2023 compared to the previous year. While the number of tourist vehicles continued to grow (+6% compared to 2022), lorry traffic suffered a 17% drop.
Getlink suggested this trend was due to the UK's economic climate and increased competition from ferry companies moving away from the French and UK business models.
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Europorte, Getlink's rail freight subsidiary, saw a 9% increase in 2023 to £134 million.
ElecLink, another subsidiary managing a high-voltage interconnection between France and the UK, generated revenue of £497 million in 2023 (+33% from 2022), its first full operating year since beginning operations on 25 May 2022.
