Getlink SE
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Getlink SE
Getlink SE, previously known as Groupe Eurotunnel, is an integral player in the infrastructure and transportation sector, primarily recognized for its operation of the Channel Tunnel. This ambitious engineering marvel connects the United Kingdom and France, providing a lifeline across the English Channel. The company generates revenue by facilitating the seamless transit of passenger and freight trains beneath the water via its Eurotunnel Shuttle service, which encompasses both passenger and freight transport with a robust, reliable service that has become crucial for businesses and travelers alike. The shuttles handle substantial volumes annually, charging fees for passage, contributing a significant portion to Getlink's revenue stream. Moreover, Getlink licenses access to the Channel Tunnel to other railway operators, like Eurostar, broadening its revenue base.
Beyond its core tunnel operations, Getlink has diversified to include other transportation and rail-related services, enhancing its financial stability and growth potential. One prominent venture is its equity stake in ElecLink, a project designed to construct and operate an electricity interconnector between Great Britain and France, leveraging the geographical positioning of the Channel Tunnel infrastructure. This venture is aimed at tapping into the burgeoning energy market by facilitating cross-border electricity trading. Furthermore, Getlink invests in maintaining and upgrading its infrastructure, ensuring safety and efficiency remain paramount, thus fortifying its standing as a critical player in the European transportation network. Through strategic operational expansions and a commitment to technological advancement, Getlink SE continues to play a vital role in connecting economies and facilitating trade across the continent.
Getlink SE, previously known as Groupe Eurotunnel, is an integral player in the infrastructure and transportation sector, primarily recognized for its operation of the Channel Tunnel. This ambitious engineering marvel connects the United Kingdom and France, providing a lifeline across the English Channel. The company generates revenue by facilitating the seamless transit of passenger and freight trains beneath the water via its Eurotunnel Shuttle service, which encompasses both passenger and freight transport with a robust, reliable service that has become crucial for businesses and travelers alike. The shuttles handle substantial volumes annually, charging fees for passage, contributing a significant portion to Getlink's revenue stream. Moreover, Getlink licenses access to the Channel Tunnel to other railway operators, like Eurostar, broadening its revenue base.
Beyond its core tunnel operations, Getlink has diversified to include other transportation and rail-related services, enhancing its financial stability and growth potential. One prominent venture is its equity stake in ElecLink, a project designed to construct and operate an electricity interconnector between Great Britain and France, leveraging the geographical positioning of the Channel Tunnel infrastructure. This venture is aimed at tapping into the burgeoning energy market by facilitating cross-border electricity trading. Furthermore, Getlink invests in maintaining and upgrading its infrastructure, ensuring safety and efficiency remain paramount, thus fortifying its standing as a critical player in the European transportation network. Through strategic operational expansions and a commitment to technological advancement, Getlink SE continues to play a vital role in connecting economies and facilitating trade across the continent.
Revenue: Q3 revenue was EUR 305 million, down 17% year-on-year, showing improvement from earlier in the year.
Traffic Trends: Truck traffic was robust, down only 3% in Q3, while car traffic fell 30% but recovered strongly over the summer.
Strong Cash Position: Cash at the end of Q3 was EUR 596 million, EUR 85 million higher than at the end of June.
Cost Control: The Shield plan aims to cut OpEx, CapEx, and employee costs, but specific savings targets were not disclosed.
Dividend: Board aims to resume dividends in 2021, but the amount is likely to be lower than before.
Guidance Withdrawn: Due to the ongoing sanitary crisis, previous year-end guidance is no longer confirmed.
Brexit & ElecLink: Preparations for Brexit are on track; ElecLink project expects approval to pull cable in December.
Eurostar Impact: Rail segment (Eurostar) remains heavily impacted, with Q3 passenger volumes down 89%.