31 March 2021
Key figures 2020
Turnover €165.6M (-70% vs 2019)
EBITDA - €78.5M
Passengers carried 2.5M (-70% vs 2019)
2020, a pivotal year for Thalys
The unprecedented health crisis has had a direct impact on Thalys' operations, with a 70% drop in commercial sales, down €385M compared with 2019.
However, this sudden fall in sales has been partially mitigated by the introduction of two major measures that began in March 2020, and will result in savings of almost €150M:
Adapting the transport plan to meet demand, with a 60% reduction in Thalys traffic, resulting in savings of €106M.
Implementing a cost-cutting plan, with savings of €42M.
The EBITDA closed at -€78.5M, and net profit for the year at -€137.7M.
External funding in 2021
Despite this loss, the cash flow was still positive on 31 December 2020, but is forecast to slip into the red in April 2021.
For this reason, Thalys will have to seek external funding for the first time: ‘The pandemic we are facing is the most serious crisis in our history. Travel restrictions have been weighing heavily on our business for more than a year, and continue to do so today. In 2021, we will still be making a loss and, for the first time in our history, will have to seek external funding,’ Bertrand Gosselin, Thalys CEO explains.
Thalys is looking to the future
Despite a difficult 2020 and an uncertain start to 2021, Bertrand Gosselin, Thalys CEO, looks to the future with confidence. ‘We are convinced of the significant potential for the growth and development of high-speed, international rail transport in Europe. In fact, 2021 has been designated ‘European Year of Rail’. This proves that the train still has a bright future ahead, as it is acknowledged to be a reliable and environmentally friendly mode of transport.’
Although Thalys carried 2.5 million passengers in 2020, 70% fewer than in 2019, it is preparing for a recovery. ‘We have prepared the expansion of our transport plan and are ready for an increase in frequency and to welcome more passengers, as soon as the health situation permits,’ Bertrand Gosselin continues.
‘Starting in June 2021, Thalys will also be celebrating its 25th anniversary. To mark the occasion, we are preparing a number of surprises for our customers, to coincide with this long-awaited recovery. An anniversary that will also be a symbol of renewal with the arrival of our new trains.
Finally, our staff remain convinced that the city-centre to city-centre journey, the very low environmental impact of our activity and our acclaimed quality of service will all be compelling reasons for our customers to choose the train,’ Bertrand Gosselin concludes.