€580k weekly operating profit for motorway firm

The operators of one of the most controversial road schemes ever built in the country generated over €580,000 per week in operating profits from the route last year.

New figures show that the M3 Motorway generated €30.2m in operating profits for its private operator, Eurolink Motorway Operation (M3) Ltd, after recording an operating profit of €41.6m in 2011.

The firm recorded €39.9m, or €109,282 per day, in revenues in 2012.

The figures are a major slump on the €50m recorded in 2011.

However, daily traffic volumes dropped by only 1% on the route last year to over 22,450 vehicles. The firm’s revenues are made up of road tolls and operational payments from the National Roads Authority (NRA). The road tolls are generated by a €1.40 charge to motorists at each of the two toll plazas on the route.

The payments from the NRA include traffic guarantee payments that are paid if sufficient volumes of motorists don’t use the tolled route.

The figures show that the firm’s pre-tax profits declined sharply by 37% from €28.3m to €17.6m.