The company posted a profit of €1.4m on revenue of €571m for 2009, much lower than its restated 2008 profit of €34m on €679m revenue.
However, Eurotunnel said it was pleased with the result, achieved despite a partial reduction in tunnel capacity in the first few weeks of 2009 as a result of the fire in September 2008, as well as a strong decline in the cross-Channel truck market.
Its profit would have been greater, if the operator had received full compensation for losses occurred as a result of the fire.
Insurance payments have been frozen by the courts, pending the outcome of a claim against Eurotunnel’s insurers by users including Eurostar.
Eurotunnel said it is confident it will get full compensation and said it intends to pay a dividend to shareholders.
Jacques Gounon, chairman and chief executive of Eurotunnel Group, commented: ‘The results for the year 2009 are proof of Eurotunnel’s resilience in the face of difficulties.
‘Our group has remained profitable in an unfavourable economic context.
‘This performance shows that the group is in good shape to benefit from the economic recovery, as soon as it begins.
‘The payment of a dividend is a demonstration of our confidence and determination for 2010.’
Click here to see the 2009 results in full (220KB pdf).
See also:
Mixed fortunes for Eurostar/Eurotunnel (20/01/2010)
Eurotunnel accuses Eurostar of safety breach (04/01/2010)
Eurotunnel highlights emissions savings (18/12/2009)
‘Positive signs’ in Eurotunnel Q3s (20/10/2009)
Eurotunnel still feeling fire impact (24/07/2009)