GET: Groupe Eurotunnel SA: Groupe Eurotunnel SA: traffic and revenue for 2013

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UK Regulatory Announcement


2013 a record year: strong growth in revenues, +12%^1 to €1.092 billion

► Channel Tunnel Fixed Link Concession

  *Eurotunnel Shuttles: further increase in revenue (+2%)
  *High speed trains: 10 million passenger barrier broken
  *Freight trains: visible growth

► Europorte: continuing development; growth in revenue of +16% to €238.5

► MyFerryLink: The essential 3^rd shipping actor of cross-Channel market

Jacques Gounon, Chairman and Chief Executive Officer of Groupe Eurotunnel SA,
stated: “Eurotunnel has had a record year and, in spite of the highly
competitive market situation, has delivered revenues significantly above one
billion euros. For its 20^th Anniversary in 2014, the Group has confirmed its
capacity to make the most of the recent economic growth in Europe and
particularly in the United Kingdom.”

^1 All comparisons with 2012 revenues are at a constant exchange rate of £1 =


In million euros      2013        2012           Change     2012
                     un audited  recalculated*  2013/2012  published**
Eurotunnel Shuttles    477.0        469.7           +2%         478.1
Railway Network        289.3        280.8           +3%         285.7
Other revenues        12.9        12.7           +2%        12.9
Sub-total Fixed Link  779.2       763.2          +2%        776.7
Europorte             238.5       205.6          +16%       209.5
MyFerryLink           74.3        7.0            -          6.9
Revenue               1,092.0     975.8          +12%       993.1


                     4^th Quarter  4^th Quarter              4^th Quarter
In million euros      2013           2012            Change      2012
                    un audited    recalculated*  2013/2012  published**
Eurotunnel Shuttles   113.3          112.0           1%          112.7
Railway Network       71.8           68.7            +5%         69.3
Other revenues       3.1           3.4            -9%        3.4
Sub-total Fixed      188.2         184.1          +2%        185.4
Europorte            66.1          54.5           +21%       55.1
MyFerryLink          19.3          5.1            +277%      5.1
Revenue              273.6         243.7          +12%       245.6

* Average exchange rate for 2013: £1= €1.187

** Average exchange rate for 2012: £1= €1.23

The consolidated total revenues for the Eurotunnel Group for the year 2013
reached €1.092 billion, an increase of 12% compared to 2012.

A. Fixed Link Concession:

The Tunnel’s inherent advantages of speed, reliability and respect for the
environment are clearly popular with customers. The increase in the number of
passengers transported is the proof: almost 325 million passengers have
travelled through the Channel Tunnel since its opening and over 20 million
this year.


                                    2013        2012       Change
Truck Shuttles          Trucks      1,362,849   1,464,880  -7%
Passenger Shuttles      Cars ¹      2,481,167   2,424,342  +2%
                        Coaches     64,507      58,966     +9%
High speed trains ²     Passengers  10,132,691  9,911,649  +2%
Rail freight trains ^3   Tonnes       1,363,834    1,227,139   +11%
                        Trains      2,547       2,325      +10%


                                     4(th) Quarter  4(th) Quarter  Change
                                    2013           2012           
Truck Shuttles          Trucks       350,214         370,751         -6%
Passenger Shuttles       Cars ¹       561,958         555,139         +1%
                        Coaches     15,542         14,849         +5%
High speed trains ²     Passengers  2,474,486      2,473,364      0%
Rail freight trains ^3   Tonnes       356,591         320,445         +11%
                        Trains      638            600            +6%

^1 Includes motorcycles, vehicles with trailers, caravans and camper vans.

^2 Only passengers travelling through the Channel Tunnel are included in this
table, excluding those who travel between Paris-Calais and Brussels-Lille.

^3 Rail freight services by train operators (DB Schenker on behalf of BRB, the
SNCF and its subsidiaries, and Europorte) using the Tunnel.

Eurotunnel Shuttles

Shuttle Services revenues increased by 2% to €477 million in 2013, without any
change to commercial policy which sets out to differentiate the quality of
service compared to the competition.

  *Freight Shuttle Service: following an exceptional year in 2012 with the
    London Olympic Games, truck traffic in 2013 has returned to its historic
    levels in a highly competitive market. Eurotunnel has shown its underlying
    strength, as can be seen in its market share which, at 38.6% for the year,
    remained above the average market share recorded before 2012. The Short
    Straits cross-Channel truck market has seen real growth (estimated at
    4.7%) but remains 5% below its 2007 level.
  *Passenger Shuttles: Eurotunnel’s passenger traffic has been strong and has
    continued to grow (+2% for cars, +9% for coaches) to reach close to 2.5
    million cars in 2013, in a cross-Channel market which has itself increased
    by 2.8% over the year. This is a particularly remarkable performance given
    that it has been achieved in a year without a major catalyst such as the
    Jubilee or the 2012 Olympic Games. Le Shuttle market share remained stable
    in 2013.

Coach traffic continued to improve, with an almost 9% growth and a market
share which reached 41.6% (+0.5 point). In 2013, coach traffic was
strengthened by the launch of the new scheduled services from ID Bus, Megabus
of Stagecoach in 2012.

Overall, albeit the financial crisis is not yet over, and competition remains
vigorous across the Channel, customer loyalty to the Eurotunnel system is
clear. The renovation of terminal facilities and mobile services below the
Channel have brought a new era of modernity which, added to the high frequency
of Shuttle departures, the short crossing time, the punctuality levels and the
minimal impact on the environment continues to attract both leisure passengers
and commercial transporters to Eurotunnel.

Railway Network

  *High speed trains: For the first time in its history, Eurostar has broken
    through the symbolic hurdle of 10 million passengers (+2%). The launch of
    new services announced by Eurostar, London-Lyon-Marseille in 2015 and
    London-Amsterdam in 2017 are welcome portents for the growth of this
    traffic through the Channel Tunnel.
  *Cross-Channel rail freight has shown double digit traffic growth in 2013
    (number of freight trains increased by 10%), due particularly to the
    transport of steel, to the re-launch of intermodal services and to new
    services generated through the ETICA (Eurotunnel Incentive for Capacity
    Additions) scheme, which provides support for start-ups put in place by
    Eurotunnel, using its own resources. Since 2010, the growth in
    cross-Channel rail freight has been 21%. In view of the activity
    stimulated by ETICA, Eurotunnel is now considering extending the scheme
    whilst continuing to seek solutions to the many barriers external to the
    Channel Tunnel. The Groupe is convinced that there is an important future
    for these pan European traffic flows.

B. Rail freight operators: Europorte and its subsidiaries

Europorte is fulfilling its role as a vector for growth and recorded a
substantial increase in its revenues (+16%) due to new contracts and the
increase in its traffic for existing customers. The British and French rail
freight subsidiaries are positioned as the third largest operators in each
country and the first private operator in a sector which is becoming more and
more similar to infrastructure management.

The vitality of GBRf, the third largest UK based rail freight operator,
continues. GBRf signed a contract with Sibelco Europe to provide freight
services to transport silica sand. The sand is carried on two trains per day
from the Sibelco quarry near Kings Lynn, Norfolk, to the Guardian Industries
plant at Yoole, Yorkshire, and to the Ardagh glass manufacturing sites at
Barnsley and Doncaster. This contract strengthens GBRf’s position in the
aggregates business.

C. MyFerryLink


        2013     2012 ¹
Trucks   326,274  11,417
Cars ²   316,811  45,908
Coaches  721      11


        4^th Quarter 2013  4^th Quarter 2012 ¹
Trucks   91,110             9,760
Cars ²   61,680             36,369
Coaches  113                8

^1 MyFerryLink began commercial operations on 20 August 2012.

^2 Includes motorcycles, vehicles with trailers, caravans and camper vans.

Following the administration of SeaFrance at the start of 2012, Eurotunnel
purchased three ships and, as ship owner, leased these ships to an independent
company, the SCOP SeaFrance. The new activity, which started on 20 August
2012, saw revenues increase from €7 million in 2012 to €74 million in 2013 as
a result of a service that attracted both freight transporters and car
passengers. The addition of MyFerryLink services has also brought an increase
in the choice of services available to cross the Channel, a great benefit for
consumers. Even though approved by the French competition authorities,
MyFerryLink is the object of an investigation by the British Competition
Commission which should announce its decision as to whether the Group bought
assets or, on the contrary took over SeaFrance, the company, after it was put
into administration, at the end of April.

Eurotunnel Press:
For UK media enquiries contact John Keefe on + 44 (0) 1303 284491
For investor enquiries contact Michael Schuller on +44 (0) 1303 288749


Groupe Eurotunnel SA
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