Getlink, the Paris-based company known until recently as Groupe Eurotunnel, has reported its 2017 financial results with consolidated revenues for 2017 reaching €1.033bn - an increase of 4% over 2016.

The CAC Mid 60 component, which operates the Channel Tunnel and its associated infrastructure, said operating costs reached €507m - an increase of only 1% - while its consolidated EBITDA amounted to €526m - an improvement of €32m compared to 2016 at a constant exchange rate.

Trading profit increased by €30m to reach €374m, a 9% rate of growth.

The consolidated net profit for the group for the year reached €113m, compared to €188m in 2016, although that included €114m of non-recurring profits.

Looking at key events during the 2017 year, Getlink said the refinancing of its floating rate debt reduced interest payments by €60m per year, and reduced its average cost of debt to below 4% from the second half year of 2017.

In 2017, Eurotunnel’s road vehicle shuttles carried 2.6 million passenger vehicles and 1.64 million trucks.

Revenue from shuttle services increased 3%, which the board put down to increased yield thanks to a high quality of service.

Le Shuttle attained an annual car market share of 54.9%, confirming once again its leadership in the short straits market.