Getlink first-quarter revenue jumps almost 50% as travel picks up

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) – The operator of the Channel Tunnel Getlink (GETP.PA) posted a rise of almost 50% 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 over the Easter holidays show that our customers are keen to resume their travels,” Chief Executive Officer Yann Leriche said in a statement.

Getlink said that 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), as revenue generated from shuttle services and railway network grew 55% and 57%, respectively.

The traffic under the Channel has been recovering due to a gradual lifting of travel curbs, with passenger traffic jumping 154% year-on-year in January-March, and truck traffic rising 23%.

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

However, the cross-channel rail freight saw 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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