Getlink revenue doubled in Q3 thanks to traffic recovery and ElecLink, company news

PARIS (Agefi-Dow Jones)–Channel Tunnel administrator Getlink, formerly Eurotunnel Group, announced Thursday that a sharp increase in passenger traffic and the establishment of the ElecLink electrical interconnection service had led to a doubling your billing in the third quarter.

For the period from July to September, the group’s turnover amounted to 466.1 million euros, an improvement of 109% at constant exchange rates in a year.

Revenue from Eurotunnel shuttles (trucks and cars) increased by 58% over the same period, to €235.1 million, while the recovery in Eurostar traffic supported revenue from the rail network. The latter improves 116% in the third quarter, to 84.3 million euros.

The turnover of the freight transport subsidiary Europorte increased by 2%, to 32.9 million euros.

In the third quarter, ElecLink contributed €107.4 million to Getlink’s revenue. ElecLink is a 1-gigawatt electrical interconnector linking France with the United Kingdom, whose commercial operations have started in recent months. In a full year, ElecLink should contribute to Getlink’s gross operating surplus (Ebitda) in the amount of 70 to 80 million euros, according to the company’s forecasts.

In the first nine months of the year, Getlink’s turnover increased by 89%, to 1,040 million euros. During the period, passenger bus traffic increased 163% in one year, to 1,661,019 vehicles transported, and truck bus traffic increased 12% in one year, to 1,102,374 trucks transported.

The group did not provide earnings forecasts for the current year.

-Dimitri Delmond, Agefi-Dow Jones; +33 (0)1 41 27 47 31; ed: VLV


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October 20, 2022 01:50 ET (05:50 GMT)

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