Eurostar has reported total revenues “in excess of” €2 billion for the 2025 financial year, marking a 1.7 per cent year-on-year increase, the company announced this week.
The rail operator connecting the UK to mainland Europe through the Channel Tunnel achieved an EBITDA (earnings before interest, taxes, depreciation, and amortisation) of €337 million in 2025, despite facing a “challenging economic climate”.
Revenue growth was primarily due to a 2.6 per cent rise in passenger numbers, reaching 20 million travellers.
As previously reported, Eurostar’s London–Amsterdam saw the strongest growth in 2025, with a 18.3 per cent year-on-year increase in passengers. This surge followed the opening of its new UK Terminal in Amsterdam last February, which allowed for greater capacity on direct services between the UK and the Netherlands.
Meanwhile, Eurostar’s London to Germany service via Brussels saw passenger growth of 10 per cent, while its London-Brussels route was up 5.8 per cent and London-Paris saw a 5 per cent increase in passenger numbers.
Eurostar CEO Gwendoline Cazenave said: “Our 2025 results demonstrate the strength of demand to travel with Eurostar and the allure of high-speed, cross-border European rail travel… Even in difficult economic conditions, Eurostar continues to welcome more passengers than ever from across the world and forge the future of sustainable travel in Europe.”
Eurostar lowered its gross debt to €520 million by making a scheduled repayment of €130 million in April 2026. This comes after its €2 billion investment, announced last October, in a new fleet of 30 double-decker Celestia trains, which will enter commercial service from 2031.