Getlink records -21% of passenger shuttle traffic for the month of July

  •   07/08/2020 - 11h43
  •   DEHOUI Lionel

When talking about the Getlink Group, experts are aware that reference is made to a private European company which will hold the concession for the Channel Tunnel infrastructure until 2086. Moreover, the company was known as Groupe Eurotunnel. Today, Getlink has a number of groups within its ranks, including the leader in cross-Channel exchanges, Eurotunnel. It also includes Europorte, ElecLink and CIFFCO. Getlink is a company listed on the Paris Stock Exchange (Euronext). But what is its balance sheet on juillet ?

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Getlink records -21% of passenger shuttle traffic for the month of July
Image copyright: Rob Sinclair

Getlink traffic down in July

Keeping abreast of the state of companies during this period of pandemic and economic crisis has become a daily exercise for investors and shareholders. Coming to Getlink, they know that in terms of transportation, this company carries 21 million passengers annually. But the issue that plagued investors and/or shareholders of this company remains the flow of shuttle traffic in July. A concern to which Getlink responded today.

According to the figures communicated by the company this Thursday, August 6, 2020, its passenger shuttles were able to transport a total of 233 172 passenger vehicles. A figure which counts for all 31 days of July. This makes for a 21% decrease compared to last year's traffic over the same period. However, this figure also reflects a recovery from the last few months prior to July.

 

Getlink details the decrease

In its balance sheet publication, Getlink has given some details that it is essential to notify. Indeed, its famous Shuttle Freight was able to transport more than 123 879 trucks during the last month (July). This logically corresponds to a 5% drop in this traffic compared to the previous year.

The Getlink Group has also provided further details on its situation since the beginning of this year (i.e. since 1 January 2020). Indeed, more than 788 000 of its passenger vehicles have made the Channel crossing aboard the transport company's shuttles. Apart from this, more than 789 000 trucks have also crossed the Channel using these same shuttles. This represents falls of 46% and 16% respectively.

Note: These percentages of decline were reported by the Group based on figures for the first seven months of 2019.

 

Reminder of Getlink's S1 results

The consolidated EBITDA published by Getlink amounts to 123 million euros for the first half of 2020. This corresponds to an annual decrease of 52%. Consolidated sales reached a peak of 369 million euros, down 29%. In terms of cash and cash equivalents, the company had 511 million euros at the end of June compared with a total of 525 million euros at the end of 2019.

It can be seen from these various figures that the company has been strongly impacted by the health crisis currently shaking the world. This has not prevented it from now counting on an Ebitda of 350 million euros against 580 million euros previously. The group has also withdrawn its objectives for the year 2022.