Operating profit was £52.3m in 2012 up from £25m in 2011, a result Eurostar says was due to an increase in passenger volumes combined with cost management initiatives implemented across the business. Sales revenues down slightly at £799m compared with £803m in 2011. However, fluctuations in exchange rates had a major impact on these results. At a constant €1.15 rate, sales revenue would have increased by 5%.
Passenger numbers for the year ending December 31 2012 increased by 2% year-on-year to 9.9 million, underpinned by a 5% increase in the fourth quarter due to a boost from the London Summer Olympic Games. Indeed, while business traveller numbers remained flat, leisure travellers increased by 3% compared with the previous year. Growth of passengers from outside of the EU was particularly strong with an 8% increase reported with Eurostar citing the impact of its marketing campaign outside of the EU during the year.
The company's £700m investment in a new fleet of trains remains on course for delivery in 2015, while several new services are being launched in 2013: a new partnership with TGV Lyria is offering a weekly service between London and some of Switzerland's most popular ski resorts, while a new service from London to Lyon and Provence will begin on a trial basis this summer.