Getlink, Eurotunnel’s parent company, has confirmed that truck traffic moving through the tunnel dropped by 21% in Q1 compared to the same time period in 2020.
In a recent statement, Getlink said adapting to the new post-Brexit border administration rules and the Covid-19 pandemic have heavily impacted cross-Channel trade. It added that the market had shrunk by 16.3%, although Eurotunnel also maintains its position as market leader with a truck market share of 38.9%.
Moreover, in the first 3 months of 2020, the number of railway freight trains passing through the Eurotunnel was down 10%. Getlink said disruption caused by Brexit and the situation in the automotive sector were the reasons for the drop.
Naturally, the Covid-19 also had a major impact on revenues. Eurotunnel Shuttle revenue was €87.8m, down 34% due to travel restrictions.
In addition, due to the uncertainty over Covid-19 travel restrictions, Getlink said that Eurotunnel would be postponing the announcement regarding its 2021 financial performance.
Commenting on the figures, Yann Leriche, Group Chief Executive Officer said:
The decrease in revenue reflects the travel restrictions put in place by the authorities and the adaptation of the freight market to the new post-Brexit customs formalities. Our teams are actively working for when the border reopens for tourists, on the ElecLink cable installation, and on accelerating the transformation of the business towards greater operational, financial and sustainability performance.