Eurostar narrowly misses 10 million passenger target

St Pancras International station, complete with Eurostar class 373 sets
St Pancras International station, complete with Eurostar class 373 sets

by business editor Trevor Sturgess

Eurostar high-speed international trains through Kent boosted passenger numbers and profits last year.

The operator narrowly missed the 10 million passenger milestone as the total edged up 2% from 9.7m to 9.9m in 2012.

The number of passengers from outside the European Union jumped 8%, and Eurostar reported a strong post-Olympic surge in the final three months of the year, with traffic up 5%.

Operating profits doubled from £25m in 2011 to £52.3m, although total sales were slightly down to £799m (2011: £803m).

While business travel remained flat, leisure defied the economic downturn, with a 3% rise in passenger numbers.

Eurostar, which runs services from St Pancras International to Paris and Brussels via Ebbsfleet International and Ashford International, capitalised on the publicity generated by the Diamond Jubilee celebrations and London 2012 by heavy promotion outside the EU.

Nicolas Petrovic, chief executive, Eurostar, said: “Despite the challenging economic climate we delivered a strong performance in 2012.

"The combination of the Olympic Games and the Jubilee gave London a major boost showcasing the city as a prime travel destination.

"Growth in traveller numbers was particularly strong in the fourth quarter of the year as European and international travellers flocked to the capital.”

The operator is investing £700m in a new fleet of trains and a facelift for its existing rolling stock.

Both are being designed by Pininfarina, the Italian design house, and will be introduced by 2015.

This summer, new direct services to Lyon and Provence will launch for a trial period.

Mr Petrovic added: “The next couple of years will see the transformation of our business with a range of initiatives including the delivery of a new fleet and the launch of new services.

"Today’s results are testament to the substantial growth opportunities within the business and the continuing drive to unlock this potential.”

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