In brief: Eurotunnel first profits in 22 years!

Posted on March 7, 2008 by Matthieu Desiderio

For the first time since its creation in 1986 (22 years ago…), Eurotunnel, the company that operates the Channel tunnel between France and United Kingdom generated profits in 2007. Jacques Gounon, Eurotunnel Chairman and CEO announced the company may probably distribute part of these benefits to shareholders in 2009, but did not confirmed it firmly.

Net results before audit is however quite low, around €1 million, for a €775 million turnover; operational result of FY2007 is estimated at €275 million. However, this result has a symbolic meaning, considering 2006 losses of €204 million! It is probably the end of a difficult era for the company that has been in jeopardy, almost went bankrupt, and which shares almost completely lost their value. Eurotunnel announced FY2007 final results will be published on April 8, 2008.

References

Article: Premiers bénéfices pour Eurotunnel, Direct Matin, Mar. 7, 2008: paper edition
Article: GROUPE EUROTUNNEL : Des bénéfices en 2007 !, La Vie Financière, Feb. 20, 2008: here
Article: Premiers bénéfices en 20 ans d’existence pour Eurotunnel, L’Expansion, Mar. 6, 2008: here
Report: Presentation of the results for the first half of 2007 (PDF), Eurotunnel, Aug. 30, 2007: here
Website: Eurotunnel: here