Getlink: All-Time High Revenue for the Group at €1.6 Billion

Rhea-AI Summary

Getlink S.E announced a record revenue of €1.606 billion for 2022, marking a 107% increase year-over-year at constant exchange rates. Eurotunnel revenue surged 63% to €1.049 billion, driven by a significant rebound in passenger traffic, with Eurostar passenger numbers up 407% compared to 2021. The ElecLink interconnector generated €420 million since its launch on May 25, 2022. Europorte also reported a 5% increase in revenue to €137 million. The company aims to enhance its sustainability efforts and accelerate growth.

Positive

• Record revenue of €1.606 billion in 2022, up 107% from 2021.
• Eurotunnel revenue increased 63% to €1.049 billion.
• Eurostar traffic rose by 407%, transporting over 8 million passengers.
• ElecLink generated €420 million since May 2022.
• Europorte revenue grew by 5% to €137 million.

Negative

• Rail freight train traffic declined by 10% in 2022.

The accelerated transformation and operational excellence of Eurotunnel, ElecLink and Europorte in their markets are bearing fruit

Financial year 2022:

• Consolidated Group revenue totalled €1.606 billion in 2022, an increase of 107% at a constant exchange rate¹ compared to 2021, a new all-time high since the Group’s creation.

• Eurotunnel: revenue up 63% to €1.049 billion, driven by the strong growth in Passenger Shuttle traffic and also Eurostar traffic which is five times the 2021 traffic.

• Europorte: solid operational performance, with revenue up 5% to €137 million.

• ElecLink: €420 million in revenue generated since 25 May 2022.

PARIS--(BUSINESS WIRE)-- Regulatory News:

GETLINK S.E. (Paris:GET):

Yann Leriche, Group CEO, said: “2022 has been a remarkable year for Getlink. The success of our customer-focused strategy and the successful commissioning of our ElecLink interconnector between France and Great Britain are enabling us to accelerate our growth. All the Group’s entities, supported by the commitment of our teams, have delivered a record performance in the service of low-carbon transport.”

► Q4 2022: business highlights

• Group
  • Publication of the Energy Sobriety Charter, aimed at strengthening the commitment to environmental excellence.
  • Inclusion in the CAC SBT 1.5°, the new Euronext index which values large French companies which are committed to drastically reducing their greenhouse gas emissions by 2030.
• Eurotunnel
  • Le Shuttle Freight :
    • Nearly 1.45 million trucks crossed the Channel on Le Shuttle Freight in 2022, confirming its status as market leader with 42.2% of the market in 2022.
    • Success of the First offer with a targeted sample of Freight customers.
    • Good progress of the unaccompanied service.
  • Le Shuttle :
    • In 2022, Eurotunnel Le Shuttle transported more than 2.1 million passenger vehicles and confirmed its status as the leader on the Short Straits market with a car market share of 62.8% for the year, supported by active marketing actions.
    • Eurotunnel Le Shuttle transported more than 100,000 tourist vehicles between Folkestone (UK) and Coquelles (France) during the holiday period at the end of the year, peaking at almost 25,000 cars between Friday 16 and Sunday 18 December.
  • Solid performance in Q4 2022 with Eurotunnel revenue up 30% compared to 2021 at €248.4 million.
• Europorte
  • Revenue up 13% in Q4 to €36.4 million.
  • Numerous commercial successes.
• ElecLink
  • Excellent operational performance since commissioning, with an availability rate of 90%.
  • Revenue of €277.9 million in Q4, in a particularly volatile market.

__________________
¹ All comparisons with 2021 are made at the average 2022 exchange rate of: £1=€1.168.

► REVENUE: FULL YEAR

€ million	2022 unaudited	2021 restated*	Change	2021 published**
Exchange rate : £1	€1.168	€1.168		€1.167
Shuttle Services	732	477	53%	477
Railway Network	295	155	90%	155
Other revenues	22	12	83%	12
Sub-total Eurotunnel	1,049	644	63%	644
Europorte	137	130	5%	130
ElecLink	420	-	-	-
Revenue	1,606	774	107%	774

► REVENUE: FOURTH QUARTER

€ million	Q4 2022 unaudited	Q4 2021 restated	Change	Q4 2021 published
Shuttle Services	161.3	137.7	17%	138.9
Railway Network	81.5	49.8	64%	50.3
Other revenues	5.6	3.6	56%	3.7
Sub-total Eurotunnel	248.4	191.1	30%	192.9
Europorte	36.4	32.2	13%	32.2
ElecLink	277.9	-	-	-
Revenue	562.7	223.3	152%	225.1

* Restated using the average exchange rate for the 2022 financial year: £1 =€1.168
** Average exchange rate for the 2021 financial year: £1 =€1.167

A. Group

The Group's consolidated revenue amounts to €1.606 billion in 2022, an all-time high. This remarkable performance is driven by the ElecLink go-live as well as by the excellence of the two other businesses in their markets.

B. Eurotunnel

At €1.049 billion, Eurotunnel revenue saw an increase of 63% at a constant exchange rate, a level never before seen for this business.

Revenue from the Shuttle business increased by 53% to €732 million compared to 2021, in a context marked by the return of tourist traffic, thus confirming people’s appetite for travel.

Revenue from the Railway Network saw a strong growth up to €295 million, thanks to the upturn in Eurostar traffic.

C. Europorte

Europorte revenue was up 5% in 2022 to €137 million.

► EUROTUNNEL TRAFFIC: FULL YEAR

		2022	2021	Change
Truck Shuttles	Trucks	1,446,765	1,361,529	6%
Passenger Shuttles	Passenger vehicles1	2,127,438	960,205	122%
High speed passenger trains2 (Eurostar)	Passengers	8,295,005	1,637,687	407%
Rail freight trains3	Trains	1,488	1,654	-10%

► EUROTUNNEL TRAFFIC: FOURTH QUARTER

		Q4 2022	Q4 2021	Variation
Truck Shuttles	Trucks	344,391	375,982	-8%
Passenger Shuttles	Passenger vehicles1	466,419	328,190	42%
High speed passenger trains2 (Eurostar)	Passengers	2,400,825	992,774	142
Rail freight trains3	Trains	355	375	-5%

¹ Including cars, motorcycles, vehicles with trailers, caravans, camper vans and coaches.
² Only passengers travelling through the Channel Tunnel are included in this table (excluding those who travel between Brussels-Calais, Brussels-Lille, Brussels-Amsterdam, etc)
³ Rail freight services by train operators (DB Cargo on behalf of BRB, SNCF and its subsidiaries, GB Railfreight, RailAdventure and Europorte) using the Tunnel.

The strengths of the Shuttle - ease, environmentally friendly, reliability, speed and frequency- remain popular for customers.

A. Eurotunnel Shuttles

• Le Shuttle Freight: Le Shuttle Freight transported nearly 1.45 million trucks in 2022, confirming its place as market leader with 42.2% of the market during the year.

• Le Shuttle Passenger: With 2,127,438 vehicles transported in 2022, Passenger traffic was more than two times higher than 2021, driven by the return of tourist traffic. Le Shuttle confirms its status as market leader on the Short Straits with a car market share of 62.8%.

B. Railway network

• High speed passenger trains: In 2022, Eurostar traffic was more than five times higher than in 2021 with nearly 8.3 million passengers transported.

• Cross-Channel rail freight was down 10% in 2022.

The Group’s annual results will be published on Thursday 23 February before the markets open.

About Getlink

Getlink SE (Euronext Paris: GET) is, through its subsidiary Eurotunnel, the concessionaire of the Channel Tunnel infrastructure until 2086, and operates Truck and Passenger Shuttle services (cars and coaches) between Folkestone, UK and Calais, France. Since 31 December 2020 Eurotunnel has been developing its smart border so that the Tunnel remains the fastest, most reliable, easiest and most environmentally friendly way to cross the Channel. Since its inauguration in 1994, more than 476 million people and 98 million vehicles have travelled through the Channel Tunnel. This unique land link, which sees 25% of trade between the United Kingdom and continental Europe, has become a vital link reinforced by the ElecLink electrical interconnector installed through the Tunnel, which helps to balance the energy needs between the UK and France. Getlink complements its sustainable mobility services with its rail freight subsidiary Europorte. Committed to low-carbon services that control their impact on the environment (through its activities the Group avoids the equivalent of 2 million tonnes of CO₂ being released per year), Getlink has placed at the heart of its concerns the place given to people, nature and land.

https://www.getlinkgroup.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20230125005802/en/

Getlink Contacts:

For UK media enquiries contact

John Keefe on + 44 (0) 1303 284491

Email: press@getlinkgroup.com



For investor enquiries contact:

Michael Schuller on +44 (0) 1303 288749

Email: Michael.schuller@getlinkgroup.com



For other media enquiries contact

Anne-Sophie de Faucigny on +33 (0)6 4601 5286

Romain Dufour on +33(0)6 2000 3138

Source: GETLINK S.E.

FAQ

What was Getlink's revenue in 2022?

Getlink reported a record revenue of €1.606 billion in 2022.

How much did Eurotunnel's revenue increase in 2022?

Eurotunnel's revenue increased by 63% to €1.049 billion.

What factors drove the revenue growth for Eurotunnel?

The revenue growth was driven by a significant increase in passenger shuttle traffic and Eurostar traffic.

How much revenue did ElecLink generate since its launch?

ElecLink generated €420 million since its launch on May 25, 2022.

What was the change in Eurostar passenger traffic in 2022?

Eurostar passenger traffic increased by 407% compared to 2021.