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Getlink posts eighth straight growth year

Getlink (Groupe Eurotunnel) revenue increased by 4% to €1.033B, with EBITDA up by 6% to €526M

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Jacques Gounon, Chairman and Chief Executive Officer, stated: "The Group has seen its eighth consecutive year of growth and has had another excellent year from both operational and financial perspectives. The outlook for the years to come is equally positive notably for cash generation, enabling the Group to commit to a dividend increase of €0.05 per year for the next few years."

Highlights of the year included:

  • The passenger and truck shuttles carried 2.6M passenger vehicles and 1.64M trucks respectively.
  • This represents a 54.9% share and a 39.1% share of the Dover-BoulogneCalais pasenger car and truck markets respectively.
  • The Pets service, one factor in customer loyalty, had another record year, with 331,372 animals transported (an increase of 10% compared to 2016).

On the "wholesale" business side, revenue increased by 4% to €293M in 2017.

  • Eurostar carried more than 10.3M passengers in 2017, buoyed by a record end to the year. This return to traffic growth, the announced launch of Eurostar services between London and Amsterdam on 4th April 2018 and the prospect of services to other cities in France are further encouragement for future growth in this traffic.
  • Through train rail freight recovered in 2017 from the shocks of 2015 caused by the migrants’ crisis, with traffic returning. More than 1.2 MT of rail freight was carried in over 2000 trains, compared to 1.04 Mt in 1800 trains in 2016. One highlight was the first intermodal train from China. Further growth in through rail freight is expected this year.

Revenue improved for Getlink’s Europorte rail freight business in France (Socorail and Europorte France brands), due to increasing volumes from customers in the automobile, chemicals and cereals sector.

Finally, says Getlink, work on Eleclink, the 1GW electrical connector running through the northbound tunnel, is said to be progressing well and it should be ready in 2020. Building the interconnector requires the installation of direct current cables in the North rail tunnel, the construction of two converter stations at Folkestone and Peuplingues and the burying of ac cables to reach the networks of British operator NGET and French operator RTE.

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