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Getlink S.E.  Q1 2021: 33% Expected Decrease in Revenue With Borders Virtually Closed to Tourists

Nachrichtenquelle: Business Wire (engl.)
22.04.2021, 07:30  |  129   |   |   

Regulatory News:

Getlink S.E. (Paris:GET):

Yann Leriche, Group Chief Executive Officer said: The decrease in revenue reflects the travel restrictions put in place by the authorities and the adaptation of the freight market to the new post-Brexit customs formalities. Our teams are actively working for when the border reopens for tourists, on the ElecLink cable installation, and on accelerating the transformation of the business towards greater operational, financial and sustainability performance.”

► First quarter 2021: key events

  • Group
    • Resumption of the dividend payment policy for the 2020 financial year.
  • Eurotunnel
    • The 39% decrease in revenue, reflecting the Covid-19 public health situation, is accompanied by continued furlough for both British and French staff;
    • Preparation of teams, processes and IT systems for future reopening of borders conditional on the presentation of a negative Covid-19 test;
    • Certification by ANFOR, with a maximum score of 100%, on measures to protect customers and employees against Covid-19;
    • Signing of several partnerships to facilitate customs procedures for the Truck business, such as SGS TransitNet and ICS partnerships;
    • More than 50% of the customers of the Truck Shuttle service are now using the Eurotunnel Border Pass;
    • Current public health conditions weigh heavily on Eurostar traffic levels (down 95% compared to Q1 2020).
  • Europorte
    • Raphaël Doutrebente announced as Chairman ;
    • Launch of new traffic flows since the beginning of the year, with Axéréal transporting grain and the start of a new flows for the Lafarge Holcim Group;
    • Launch of the FlexExpress service, creating a dedicated single wagon corridor.
  • ElecLink
    • 25km of cable pulled through the Tunnel (50% complete), in line with the schedule.

► REVENUES: FIRST QUARTER

(€ million)

 

Exchange rate €/£

Q1 2021
unaudited
1.152

Q1 2020
recalculated*
1.152

 

Change

 

Q1 2020
published**
1.165

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Disclaimer

Getlink S.E.  Q1 2021: 33% Expected Decrease in Revenue With Borders Virtually Closed to Tourists Regulatory News: Getlink S.E. (Paris:GET): Yann Leriche, Group Chief Executive Officer said: “The decrease in revenue reflects the travel restrictions put in place by the authorities and the adaptation of the freight market to the new post-Brexit …

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