June 2nd 2026 - Eurostar today announces its 2025 full-year results, confirming continued growth, driven by sustained passenger demand and a long-term investment strategy focused on new fleet and customer experience.

Revenue growth driven by increasing passenger numbers  

In 2025, Eurostar traffic grew by 3% to 20 million passengers, reflecting the continued appeal of international high-speed rail travel across Europe. In 2025, Eurostar transported 500,000 additional passengers compared with the previous year. 

Routes with the strongest growth on the Eurostar network in 2025 included: 

• London–Amsterdam (+18.3%) 

• London-Brussels (+5.8%) 

• London-Paris (+5%) 

• London- Germany (via Brussels) (+10%) 

Eurostar generated total revenue in excess of €2bn, an increase of 1.7%,driven by the rise in passenger numbers. 

Eurostar achieved EBITDA of €337m in 2025 in a challenging economic climate, where inflationary pressure continued and infrastructure costs remained high, particularly in the UK.  

Major investments included first payment for new Celestia trains  

Eurostar continues to deliver against a significant investment programme, structured around two key priorities: 

Fleet growth 

• €2 billion invested in a new fleet of up to 50 trains, supporting future growth, increased capacity and the development of new international routes (London-Frankfurt, London-Geneva and Amsterdam/Brussels-Geneva). In 2025, a landmark  first payment to Alstom Group of €90m was made by Eurostar.  

Customer experience 

• Opening of the new Amsterdam cross-channel terminal, enhancing the overall journey experience for customers and tripling capacity on London-Amsterdam route.   

• Continuation of the “Ruby” refurbishment of Eurostar’s continental PBKA fleet and heavy maintenance overhauls on cross-channel e320 trains, ensuring long-term reliability, comfort and operational performance of current fleet.  

Gwendoline Cazenave, Chief Executive Officer of Eurostar, said: “Our 2025 results demonstrate the strength of demand to travel with Eurostar and the allure of high speed, cross-border European rail travel. At the same time, we are concretely investing in the future with a bespoke new fleet on its way, enhanced stations and an improved customer experience. 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.” 

A clear path towards sustainable growth 

With strong passenger demand, a solid financial foundation and substantial investments underway, Eurostar remains firmly committed to expanding international rail services and accelerating the shift towards more sustainable travel across Europe. 

Travelling by Eurostar can reduce CO₂ emissions by up to 96% compared with flying on key routes. The company is also strengthening its circularity approach through concrete initiatives such as transforming food waste into compost and redistributing unsold products. In addition, Eurostar has set the ambition to power 100% of its trains with renewable electricity by 2030. 

Compared with the previous year, Eurostar Group achieved:  

• Revenue of €2.0 billion, an increase of 1.7%  

• EBITDA of €337 million  

• Passenger numbers of 20 million (+3%)  

Solid financial structure and debt repayment underway 

Following the refinancing of its debt in 2024, Eurostar’s gross debt at the end of 2025 remained at €650m. In April 2026, the Group made a scheduled €130m repayment instalment reducing gross debt to €520m.