GETLINK SE UNSP/ADR - GRPTY STOCK NEWS

Getlink reported record traffic volumes during the Queen's Platinum Jubilee holidays, with over 57,000 passenger vehicles crossing the Channel, facilitating around 180,000 travelers. The company's Flexiplus service saw a substantial increase in popularity, more than doubling since 2019. The reopening of Duty Free shops in Folkestone and Coquelles has further enhanced customer experience, offering a wide range of products at competitive prices. Eurotunnel's Chief Commercial Officer expressed satisfaction with the customer turnout and staff performance, reinforcing its leadership in the cross-Channel market.

Getlink (Paris:GET) reports a successful first week of operations for its electrical interconnector, ElecLink, highlighting the complete sale of its capacity during initial auctions. The short-term capacity auctions began on May 24, and the full capacity was sold out, reflecting strong market interest. The ElecLink, which connects the UK and France via a 52 km cable, aims to enhance energy security and contribute to decarbonization. CEO Yann Leriche expressed satisfaction with the operational performance, indicating plans for long-term contracts starting this week.

Getlink's rail freight subsidiary, Europorte, is investing €8.5 million to modernize its fleet of Euro4000 locomotives with ETCS technology, becoming the first French rail freight company to do so. This project, co-financed by Beacon Rail and supported by European Commission subsidies, enhances Europorte's capacity for international and cross-border traffic, especially to Belgium and Germany. The upgrade aims to promote a greener supply chain and address the shortage of truck drivers, reinforcing Europorte's commitment to major industrial customers and continuity of service.

Getlink has announced that ElecLink has completed its full go-live preparations and will launch commercial operations with National Grid and RTE. This 1GW HVDC electricity interconnector between France and the UK is designed to be environmentally friendly and will enhance energy supply security and affordability for consumers. The inaugural power flow began on May 25, 2022, marking a significant milestone. CEO Yann Leriche emphasized the timely launch amid current electricity price volatility in both countries.

Getlink SE, publicly traded on Euronext Paris under the symbol GET, has reported an update as of 30 April 2022. The company has 550 million ordinary shares issued, translating to a theoretical voting rights count of 733,790,920. The total exercisable voting rights, excluding suspended shares, is 723,663,305. This highlights the company’s structure regarding voting rights, particularly the provision for double voting rights for shareholders maintaining shares for two years. The stock’s nominal value stands at €0.40.

In April 2022, Getlink reported significant traffic growth for its Le Shuttle Freight and Le Shuttle services. Truck transport increased by 14% year-over-year, totaling 128,980 trucks, aided by the suspension of competing services. Passenger vehicle transport surged 450% to 204,069 units, marking the highest monthly traffic since summer 2020, boosted by the Easter period. Since January, nearly 504,000 trucks and 500,000 passenger vehicles have crossed the Channel. Future traffic updates will be available on June 9, 2022.

On April 27, 2022, Getlink SE held a Combined General Meeting in Marcq-en-Baroeul, achieving a record shareholder quorum of 73.80%. All resolutions presented were overwhelmingly approved, including a dividend payment of €0.10 per share. The Board appointed Brune Poirson and Lord Peter Ricketts, renewing the terms for several directors, maintaining a 50% female participation rate. Chairman Jacques Gounon expressed gratitude toward departing board members.

Getlink has successfully refinanced its EUR 425m Tranche C2A loan due to mature in June 2022. The new loan features a fixed rate of 3.531% until 2031, projecting total cash savings of approximately €100m over nine years. This refinancing, aided by Goldman Sachs and BNP Paribas, demonstrates continued investor confidence despite market volatility. The Group also unwound some interest rate hedges, incurring €118m in related costs. The new notes are expected to be rated BBB by S&P and Fitch, and Baa2 by Moody's. The settlement is anticipated on May 12, 2022.