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Eurostar group business update third quarter results

Eurostar<.> Group, which determines the commercial direction of the overall Eurostar service, announced further improvement…

Eurostar<.> Group, which determines the commercial direction of the overall Eurostar service, announced further improvement in sales revenue and sales volumes for the third quarter of 2000. This was achieved on the back of a series of successful summer promotions and steady growth in business travel across the Eurostar business.

Financial highlights

Eurostar Group continues to respond to the demands of a highly competitive market place with steadily improving rates of sales and revenue growth over the comparable period last year follows:

In the first half of 2000:

  • A 10% increase in sales volumes was achieved
  • A 9% increase in sales revenue in sterling (19.4% in euros)

During the third quarter:

  • This upward trend has continued with an increase in sales volumes of 12% to 2,107,000 (1999: 1,889,000).
  • Sales revenue continues on an accelerating trend, increasing in the third quarter by 13% to 111.7m pounds (1999: 99.3m pounds). Expressed in euros, third quarter revenue increased by 20% to 182.2m pounds (1999: 151.7m pounds).

For the nine months:

  • For the nine months of the year 2000, Eurostar`s sales volumes have risen by 11% from 5,352,000 to 5,914,000.
  • Sales revenue has increased by 10% from 297.3m pounds to 327.4m pounds. Expressed in Euros, the increase was 20% from 447.1m pounds to 534.9m pounds.

Overseas markets continue to perform well, with sales revenue outside the UK, France and Belgium up 17% (US$) on the first nine months of the previous year. Of these, the USA and Far East are important growth areas for Eurostar`s business.

Performance update

Eurostar passenger volumes continued to outperform the air/rail market on its core routes, London/Paris/London and London/Brussels/London, with significant market share gains as follows:

  • The total air/rail market on the Brussels route increased by just 1% in the first eight months of 2000. Eurostar volume, however, increased 10,5%, producing a market share gain of 4% and a total market share of 46%. A peak of 51.7% was reached in August.
  • The total air/rail market on the London-Paris-London route increased by 8% in the first eight months of 2000. Eurostar volumes increased by 10.3%. This translated into a market share of 63.4%, reaching a peak of 68.5% in August.

In terms of punctuality, Eurostar retains a healthy lead over airline competition. In the first six months of 2000, latest period in which like-for-like figures are available (Source CAA), 81.5%Eservicrrived on time or within 15 minutesschedule, ared to 65% on parallel air routes. Customer satisfaction continuesgive high scoresEtar,h 98%passengers saying they would recommend Eto friends, family or colleagues (independent research).

Optional update

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