GET: Groupe Eurotunnel SA: Eurotunnel Group revenue and traffic figures for the first quarter 2014

  GET: Groupe Eurotunnel SA: Eurotunnel Group revenue and traffic figures for
  the first quarter 2014

UK Regulatory Announcement

  *Revenues increased by 8%^1 to €260.5 million
  *Channel Tunnel Fixed Link Concession

       *Shuttle revenues: €106.5 million (+5%)
       *Eurostar: 2.3 million passengers (+3%)
       *Rail freight: +13% in number of trains

  *Europorte: Revenues of €62.4 million, an increase of 11%

Jacques Gounon, Chairman and Chief Executive Officer of Groupe Eurotunnel SA,
stated: “There is a very positive trend marking the start of the year. The
upturn in the UK economy is lifting the Eurotunnel Group’s activity. The
vectors for growth of its rail freight subsidiary and, to a lesser degree its
maritime subsidiaries are also playing their role, as can be seen from the
very good progress in the Group revenues.”

PARIS

REVENUES

The total revenues for the Eurotunnel Group (ParisGET) for the first quarter
of 2014 reached €260.5 million, an increase of 8% compared to 2013 (€240.5
million) at a constant exchange rate of £1=€1.207.

REVENUE             1^st quarter     1^st quarter                 1^st quarter
                  2014           2013            Change   2013
€ million
                    unaudited        recalculated*                published**
Eurotunnel        106.5          101.8           +5%      100.9
Shuttles
Railway network   70.2           68.9            +2%      68.2
Other revenues    3.1            2.6             +20%     2.6
Sub-total Fixed   179.8          173.3           +4%      171.7
Link
Europorte         62.4           56.0            +11%     55.4
MyFerryLink       18.3           11.2            +64%     11.2
Total             260.5          240.5           +8%      238.3

* Exchange rate 1^st quarter 2014: £1 = €1.207
** Exchange rate 1^st quarter 2013: £1 = €1.183

A. Channel Tunnel Fixed Link Concession

The Fixed Link segment recorded growth of 4% in revenue for the first quarter
of 2014 at a constant exchange rate, to €179.8 million.

Revenues from the core activity, the transport of trucks and passenger
vehicles in its shuttles, increased by 5% to €106.5 million. In a growing
market, Eurotunnel makes a difference due to its premium service which allies
speed, ease and reliability with a high frequency of departures.

Revenues from the railway network reached €70.2 million, an increase of 2% for
the first quarter.

Other revenues grew by 20% to €3.1 million.

B. Rail freight operators: Europorte and its subsidiaries

Revenues from the rail freight subsidiaries amounted to €62.4 million in the
first quarter, corresponding to an increase for the quarter of 11%.

C. MyFerryLink

Competing against other ferry operators who have 25% of the market or more,
MyFerryLink reached a market share of 9.9% in the first quarter of 2014,
compared to almost 7% in the same period the previous year. Quarterly revenue,
which reached €18.3 million, shows the relevance of the service provided by
this new cross-Channel operator.

TRAFFIC

A. Channel Tunnel Fixed Link Concession

                                          1^st quarter   1^st quarter
TRAFFIC                                                             Change
                                          2014           2013
Truck Shuttles            Trucks      347,021       333,167       +4%
Passenger Shuttles        Cars*       448,481       445,653       +1%
                          Coaches     11,963        12,740        -6%
High-speed passenger      Passengers  2,305,578     2,232,516     +3%
trains (Eurostar)**
Rail freight trains       Tonnes      399,991       323,230       +24%
***                       Trains      706           624           +13%

* Includes motorcycles, vehicles with trailers, caravans and camper vans.
** Only passengers travelling through the Channel Tunnel are included in this
table, excluding those who travel between Paris-Calais and Brussels-Lille.
*** Rail freight services by train operators (DB Schenker on behalf of BRB,
the SNCF and its subsidiaries, and Europorte) using the Tunnel.

Truck Shuttles

Truck Shuttle traffic has increased (+4%) to 347,021 vehicles, the activity
performed well through the winter, a period which is generally more difficult
for the transport sector. Eurotunnel saw its market share reach 37.9%.

Passenger Shuttle

The number of cars transported increased by 1% to 448,481 vehicles, despite
the severe flooding in the UK which disturbed daily life for the British
population. This growth was also achieved despite the Easter holidays being in
the second quarter of the year in 2014, giving an unfavourable calendar effect
in this first quarter compared to 2013. The Passenger Shuttles continue on
their path in a growing Short Straits market, with an increase in market share
of more than 2.5 points for the quarter.

Coach traffic declined (-6%) due to the previously mentioned calendar effect.

Railway network

Eurostar

With 2,305,578 passengers in the first quarter, Eurostar has renewed its
growth (+3%).

Rail freight trains

The number of rail freight trains increased by 13% in the first quarter to 706
trains. This growth is linked in large part to the success of ETICA
(Eurotunnel Incentive for Capacity Additions), the system of financial support
started in 2013 for companies launching new intermodal services through the
Channel Tunnel, and to the continuation of existing traffic.

B. Rail freight operators: Europorte and its subsidiaries

Europorte, which is composed of the rail freight subsidiaries of Groupe
Eurotunnel SA, continues on its growth path through the careful selection of
contracts to optimise profitability. In France, the first quarter has seen the
consolidation of activities in line with the business plan and notably an
expansion in the cereal sector, with significant growth in volumes and an
enlarged geographic coverage (Belgium, South and East of France).

GB Railfreight, the third largest operator in the UK, also continues to forge
ahead. Amongst several contracts signed is that with Sibelco for 11 train
movements per week carrying silica sand from Norfolk to Yorkshire. GB
Railfreight also ran the first train through the new Ipswich Chord, which
opened for service on 31 March. This joins the East Suffolk Line to the Great
Eastern Mainline and enables operators to run from Felixtowe to the Midlands
without having to go via London. GB Railfreight was recognised at the Golden
Whistle Awards as the best railway operator, in particular for its excellent
punctuality.

C. MyFerryLink

TRAFFIC  1^st quarter 2014  1^st quarter 2013  Change
Trucks   91,450             56,795             +61%
Cars^1   35,474             30,308             +17%
Coaches  420                15                 -

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

MyFerryLink, which has brilliantly overcome all the handicaps which have been
imposed upon it has seen its traffic increase, with a truck market share of
9.9%, a clear sign that customers want an alternative maritime operator and
real choice when crossing the Channel by ferry. The number of trucks
transported reached 91,450 for the first quarter, and 35,474 cars. However,
MyFerryLink is awaiting the verdict of the UK Competition and Markets
Authority in May. The Eurotunnel Group considers that this maritime activity
has proven its relevance, its usefulness and its potential for customers. The
prohibition on its operation would lead to a reduction in available capacity
leading automatically to an increase in prices to the detriment of the
consumer.

^1 All comparisons with 2013 have been made using the exchange rate for the
first quarter of 2014 of £1=€1.207.

Press:
Eurotunnel Group
For media enquiries,
John Keefe, + 44 (0) 1303 284491
Consultant
Email: press@eurotunnel.com
or
For investor enquiries,
Michael Schuller, +44 (0) 1303 288749
Email: Michael.schuller@eurotunnel.com

Contact:

Groupe Eurotunnel SA
 
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