Getlink’s Q1 revenue jumps nearly 50% as travel resumes


The logo of Channel Tunnel operator Getlink, formerly known as Eurotunnel, is seen during the company’s 2018 annual results presentation in Paris, France, February 21, 2019. REUTERS/Charles Platiau

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April 21 (Reuters) – Channel Tunnel operator Getlink (GETP.PA) reported a nearly 50% rise in first-quarter revenue on Thursday as travel in Europe gradually recovers from the pandemic.

“The strong rebound in passenger traffic and the levels reached during the Easter holidays show that our customers are eager to resume their journeys,” Chief Executive Yann Leriche said in a statement.

Getlink said the first quarter of 2022 was marked by strong organic growth and high booking levels for the summer period.

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The company’s January-March revenue rose 46% to 227.8 million euros ($247.03 million), with revenue from shuttle services and rail network growing 55%, respectively. and 57%.

Traffic under the Channel has recovered thanks to a gradual lifting of travel restrictions, with passenger traffic jumping 154% year-on-year in January-March and truck traffic 23%.

Eurostar, one of Getlink’s main customers operating trains between France, Britain, Belgium and the Netherlands, saw a 1,032% increase in cross-Channel traffic in the first quarter, Getlink said.

However, cross-Channel rail freight has seen a 15% reduction in the number of trains due to the disruption of international supply chains.

($1 = 0.9222 euros)

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Reporting by Anait Miridzhanian; Editing by Bernard Orr

Our standards: The Thomson Reuters Trust Principles.

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