REG-GETLINK S.E. Getlink: New Increase in Revenue for the First Quarter of 2019

Getlink SEAnnouncement

18/04/2019 07:00

      Getlink: New Increase in Revenue for the First Quarter of 2019
    

      Revenues for the first quarter of 2019 increased by 5%1 
      to €254.4 million
    

      

        Eurotunnel

        

          

            Eurotunnel Shuttle revenue grew by 5% to €146.9 million
          
          

            Railway Network revenue increased by 2% to €71.8 million
          
        
      
    

      

        Europorte: Strong increase in revenue to €32.3 million, up 9%
      
    

    

      Jacques Gounon, Chairman and Chief Executive Officer of the Group, 
      said: "For the first quarter of 2019, the Group has mobilised on 
      all fronts, especially in the initial Brexit context of 29 March, in 
      order to deliver the best possible quality of service and to meet our 
      customers’ expectations.”
    

      _______________
1 All comparisons with 2018 are 
      made at a constant exchange rate of £1 = €1.157.
    

      ► First quarter of 2019: key events
    

      

        Group

        

          

            Tenth consecutive year of first quarter growth, at constant 
            exchange rate and like-for-like.
          
        
      
      

        Eurotunnel

        

          

            Strong impact from the work-to-rule carried out by French customs 
            officers in March, which resulted in the loss of an estimated 
            110,000 Eurostar passengers and several thousand trucks and cars 
            on Le Shuttle travelling from France to the UK.
          
          

            Despite this, Le Shuttle Freight set a new first quarter record 
            with three new monthly traffic records.
          
          

            Passenger traffic is slightly down for the quarter as a result of 
            an unfavourable calendar effect with Easter departures falling in 
            April this year.
          
          

            Eurostar, spurred by the dynamism of the London – Amsterdam 
            service, saw further growth.
          
          

            Delivery of Brexit-related infrastructure for the French 
            authorities including pit-stops for trucks, a customs and 
            sanitary/phyto-sanitary centre, and e-gates.
          
          

            Signing of a contract with Bombardier for the mid-life renovation 
            programme for 9 Passenger Shuttles
          
        
      
    

      

        Europorte

        

          

            Continued growth in the context of strong competition.
          
          

            Successful start of new railway traction contracts and new wagon 
            flows at the Feyzin and Donges sites.
          
          

            Positive impact of the new rail infrastructure management contacts 
            in the Greater East (GIC) and the Hauts-de-France region (PGI), 
            which began during 2018 for Socorail.
          
        
      
    

      

        ElecLink

        

          

            Certification received on 31 January and 11 February respectively 
            from the French and British energy regulators.
          
          

            Cable installation pending final authorisation from the IGC.
          
        
      
    

      ► REVENUE: FIRST QUARTER
    

      

        

          € million
        
        

           
        
        

          

            1st quarter
2019
unaudited
          
        
        

           
        
        

          

            1st quarter
2018 
restated*
          
        
        

           
        
        

          

            Change
          
        
        

           
        
        

          

            1st quarter
2018
published **
          
        
        

        
      
      

        

          €/£
        
        

           
        
        

          1.157
        
        

           
        
        

          1.157
        
        

           
        
        

           
        
        

           
        
        

          1.137
        
        

        
      
      

        

          Shuttle Services
        
        

           
        
        

          146.9
        
        

           
        
        

          139.4
        
        

           
        
        

          +5%
        
        

           
        
        

          138.3
        
        

        
      
      

        

          Railway Network
        
        

        
        

          71.8
        
        

        
        

          70.7
        
        

        
        

          +2%
        
        

        
        

          70.1
        
        

        
      
      

        

          Other revenue
        
        

           
        
        

          3.1
        
        

           
        
        

          2.7
        
        

           
        
        

          +16%
        
        

           
        
        

          2.7
        
        

        
      
      

        

          Sub total Eurotunnel
        
        

           
        
        

          221.8
        
        

           
        
        

          212.8
        
        

           
        
        

          +4%
        
        

           
        
        

          211.1
        
        

        
      
      

        

          Europorte
        
        

           
        
        

          32.3
        
        

           
        
        

          29.7
        
        

           
        
        

          +9%
        
        

           
        
        

          29.7
        
        

        
      
      

        

          Getlink
        
        

           
        
        

          0.3
        
        

           
        
        

          0.6
        
        

           
        
        

          -51%
        
        

           
        
        

          0.6
        
        

        
      
      

        

          Total revenue
        
        

           
        
        

          254.4
        
        

           
        
        

          243.1
        
        

           
        
        

          +5%
        
        

           
        
        

          241.4
        
        

        
      
      

        

          

            * Restated at the exchange rate for the first quarter of 
            2019: £1 = €1.157.
          
        
        

        
      
      

        

          

            ** Exchange rate for the first quarter of 2018 was £1 = 
            €1.137.
          
        
        

        
      
      

        

        
        

           
        
      
    

      A. Eurotunnel
    

      At €221.8 million, Eurotunnel’s revenues increased by 4% in the first 
      quarter of 2019. Including Europorte, the Group’s consolidated revenue 
      totalled €254.4 million, an increase of 5% at a constant exchange rate.
    

      Shuttle revenues totalled €146.9 million, an increase of 5% over the 
      same period last year thanks, in particular, to an increase in the 
      yield, made possible by the quality of service.
    

      Railway Network revenue grew by 2%, driven by Eurostar traffic, a growth 
      unfortunately impacted by the work-to-rule action by French customs.
    

      B. Europorte
    

      Europorte saw a further strong increase in its revenue of 9% to €32.3 
      million, driven in particular by the operational launch on 1 January of 
      the contract with the Total Group.
    

      ► EUROTUNNEL TRAFFIC: FIRST QUARTER
    

      

        

           
        
        

           
        
        

          Q1 2019
        
        

           
        
        

          Q1 2018
        
        

           
        
        

          Change
        
        

        
      
      

        

          Truck Shuttles
        
        

           
        
        

          Trucks
        
        

           
        
        

          440,012
        
        

           
        
        

          423,851
        
        

           
        
        

          +4%
        
        

        
      
      

        

          Passenger Shuttles
        
        

           
        
        

          Cars ¹
        
        

           
        
        

          478,494
        
        

           
        
        

          487,203
        
        

           
        
        

          -2%
        
        

        
      
      

        

           
        
        

          Coaches
        
        

           
        
        

          10,770
        
        

           
        
        

          10,812
        
        

           
        
        

          0%
        
        

        
      
      

        

          

            High-speed passenger trains
(Eurostar) ²
          
        
        

           
        
        

          Passengers
        
        

           
        
        

          2,396,260
        
        

           
        
        

          2,379,743
        
        

           
        
        

          +1%
        
        

        
      
      

        

          Rail freight trains 3
        
        

           
        
        

          Number of trains
        
        

           
        
        

          599
        
        

           
        
        

          576
        
        

           
        
        

          +4%
        
        

        
      
      

        

          

            1 Including motorcycles, vehicles with 
            trailers, caravans and motorhomes
          
        
        

        
      
      

        

          

            2 Only Eurostar passengers travelling 
            through the Channel Tunnel are included in this table, excluding 
            those who travel
between continental stations (such as 
            Brussels-Calais and Brussels-Lille, Brussels-Amsterdam, etc.)
          
        
        

        
      
      

        

          

            3 Rail freight services by train operators 
            (DB Cargo for BRB, the SNCF and its subsidiaries, GB Railfreight, 
            Rail
Operations Group, RailAdventure and Europorte) 
            using the Tunnel.
          
        
        

        
      
      

        

        
        

           
        
      
    

      A. Eurotunnel Shuttles
    

      

        Truck Shuttles: Truck traffic saw a 4% growth in the 
        first quarter driven by a record month of March, despite the 
        work-to-rule action by French customs officers. This is mainly due to 
        stockpiling in anticipation of Brexit. Eurotunnel confirmed its place 
        as the leader in the market, with a market share close to the previous 
        year.
      
      

        Passenger Shuttles: Car traffic saw a 2% decrease with 
        478,494 vehicles transported in the context of an unfavourable 
        calendar comparison, with this year seeing Easter weekend departures 
        in April instead of March. The Shuttle car market share is 62.8% in 
        the first quarter of 2019, an increase of 1.6 points compared to the 
        first quarter of 2018.
      
    

      B. Railway Network
    

      

        High-speed trains: Eurostar saw traffic of close to 2.4 
        million passengers, an increase of 1%, despite action by the impact of 
        the “yellow vest” movement as well as the work-to-rule by French 
        customs officials in March. This growth is driven by the sustained 
        success of the London – Amsterdam service launched on 4 April 2018. 
        The addition of a third departure in June will see this continue to 
        grow.
      
      

        Cross-Channel rail freight trains: Traffic continues its 
        momentum and saw an increase of 4% in the first quarter of 2019 
        compared to the previous year, with an increase in existing services 
        (with the help of ETICA) and an improved quality of service.
      
    

      ► OUTLOOK
    

      This positive quarter, marked by strong organic growth and the 
      strengthening of pricing power, confirms the Group’s position regarding 
      its long-term outlook. Overall, in the current context, the Group 
      confirms its EBITDA forecasts to 2022.
    

      Getlink:
For UK 
      media enquiries contact
John Keefe on + 44 (0) 
      1303 284491

For other media enquiries contact
Anne-Laure 
      Desclèves on +33(0)1 4098 0467
Email: press@getlinkgroup.com

For 
      investor enquiries contact:
Jean-Baptiste Roussille on 
      +33 (0)1 40 98 04 81
Email: jean-baptiste.roussille@getlinkgroup.com

Michael 
      Schuller on +44 (0) 1303 288749
Email: Michael.schuller@getlinkgroup.com
    
View source version on businesswire.com: https://www.businesswire.com/news/home/20190417006013/en/

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