Figures relating to 2007 given on this page are extracts from the 2007 consolidated accounts for Groupe Eurotunnel SA which are prepared in accordance with IFRS.

Groupe Eurotunnel SA’s pro forma consolidated income statement for 2007 is intended to present the impact on the year of the implementation of the new financing; it consists of the combined income statement of TNU up to the operating result and of the gross cost of servicing debt using the hypothesis of an implementation of the financial restructuring on the theoretical date of 1 January 2007 for the first half of the year, and of the consolidated income statement of GET SA for the second half year.

The comparative figures for 2006 and 2005 are extracts from the combined accounts of the TNU Group, and to allow a better comparison between the three years, they have been restated to exclude the impact of the MUC top up and at a constant exchange rate of £1 = €1.437.

In 2007, Eurotunnel’s results (pro forma) achieve break-even for the first time in its history.

In a buoyant cross-Channel market, Eurotunnel consolidated market shares for its Shuttle services in 2007. Shuttle services revenue reached €500 million. Supported by this growth, revenue amounted to €775 million which, combined with a slight reduction in operating costs, resulted in an EBITDA* of €439 million – a 12% improvement. Thanks to the  implementation of the financial restructuring, the cost of servicing the debt has fallen considerably. Excluding the profit arising from the financial restructuring, the Group made a small pro forma net profit of €1 million.

Shuttle revenue in €m**	Revenue in €m**

Operating expenses in €m**	EBITDA* in €m**
EBITDA* / Revenue**	Gross cost of servicing debt in €m**
Net result in €m (2007: pro forma)

* EBITDA : Earnings Before Interest, Taxes, Depreciation, Amortisation, and other operating charges

** See Presentation of accounts above 

Information published on 8 April 2008