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2024 financial results and fleet update

We’re pleased to announce positive year-end results and growth for the third year running, alongside brand-new destinations we plan to serve with our new fleet.  

 

The fleet of up to 50 trains will be in service from early 2030s and is planned to operate three new direct routes:

  • London – Frankfurt
  • London – Geneva
  • Amsterdam/Brussels – Geneva

 

In the shorter term, the successful reinstatement of direct services between London, Rotterdam and Amsterdam in February 2025 will see a fourth daily service added from 9 September and a fifth from mid-December.

  

This comes as we announce our 2024 financial results. Despite a challenging economic climate, driven by high inflation and increases in fixed costs, we achieved an EBITDA of €346 million due to growth in passengers travelling and focused cost management. 

 

Shape, PictureFinancial Highlights – 2024 

 

Compared with the previous year, Eurostar Group achieved: 

  • Revenue of €2.0 billion, an increase of 2.0% 
  • EBITDA of €346 million 
  • Passenger numbers of 19.5 million, up 5% from 18.6 million in 2023

 

Our strongest-performing routes in 2024 included: 

  • London–Paris (+280,000 passengers) 
  • London–Brussels (+250,000 passengers) 
  • Paris–Brussels (+160,000 passengers) 
  • Paris–Netherlands (+140,000 passengers) 

 

In 2024, we successfully refinanced the group”s existing €963.7 million bank debt. The group’s total bank debt at the end of 2024 stood at €650 million. 

 

Fleet 

 

We currently operate a fleet of 51 trains: 17 e320 (894 seats), 8 e300 (750 seats), 17 PBKA (371–399 seats), 9 PBA (371 seats). The e320 and e300 are used on routes to/from London, while the PBKA and PBA trains operate on services between France, Belgium, the Netherlands and Germany.

 

With the upcoming investment, the fleet will grow to up to 67 trains — 17 e320s and up to 50 new units — expanding capacity and supporting new route development. 

 

A word from Gwendoline Cazenave, Eurostar CEO: 

 

 “We’re seeing strong demand for train travel across Europe, with customers wanting to go further by rail than ever before and enjoy the unique experience we provide. Despite the challenging economic climate, Eurostar is growing and has bold ambitions for the future. Our new fleet will make new destinations for customers a reality – notably direct trains between London and Germany, and between London and Switzerland for the first time. A new golden age of international sustainable travel is here.”